DOE offers ‘game-changer’ $182M loan to IRG plastics recycling project
The U.S. Department of Energy plans to loan up to $182.6 million to International Recycling Group in Erie, Pennsylvania, the agency announced Tuesday. The loan, which both parties plan to finalize in the coming months, will support what is expected to be one of the largest plastic recycling facilities in the U.S.
The project was first announced in 2020 and has earned the support of local and state-level backers. In 2022, it earned a $509,000 grant from the state to construct a rail siding as well as a $5 million redevelopment grant.