Massive plastics recycling project draws federal backing
A Pennsylvania project from International Recycling Group has gained momentum, with a commitment for a multimillion-dollar loan from the U.S. Department of Energy.
Following an extensive application process with the DOE, IRG received a guarantee of up to $182.6 million in loans, according to a DOE press release. The loan would provide about 60% of the financing required for the project, which will include a plastic recovery facility, or PRF, to mechanically process plastics in Erie, Pennsylvania and equipment to produce an iron-reducing feedstock for steel-making furnaces at a facility in northwest Indiana. The plastics recycling portion of the project has previously been described as a “SuperPRF,” given its scale.