A firm that has developed recycling technology which it reckons can help slash the emissions associated with concrete production has won seven-figure backing from a group of investors led by prominent oil services entrepreneurs.
Aberdeenshire-based Recycl8 has developed a process that involves using ash from the bottom of incinerators to replace quarried ingredients in the production of concrete.
The company reckons its process will allow Incinerator Bottom Ash (IBA) to account for up to 60 per cent by volume of the concrete it is used in, with big benefits for the environment.
READ MORE: Aberdeen oil services heavyweight wins renewables work
“In working with us, waste-to-energy facilities can avoid sending their ash to landfill, and cement manufacturers can deliver a significantly reduced carbon footprint to our ever-growing sustainable built environment,” said Recycl8’s founder and managing director Ian Skene.
The investment round provides a big vote of confidence in the potential of Reclycl8’s technology.
It was led by Mike Wilson and Doug Duguid, both of whom have developed successful North Sea oil services businesses.
Mr Wilson said the technology Recycl8 has developed is a first in its field.
He noted: “If all UK concrete was made with Recycl8 technology we’d save around 2.1 million tonnes of CO2. This is a hugely exciting prospect, in particular for both the construction industry and waste to energy industry in their bid to tackle the carbon emissions challenges they face.”
Mr Skene said Recycl8 will use the funding to accelerate the development and commercialisation of its additive for concrete manufacture for the global construction industry.
Mr Skene launched Recycl8 in 2019 with fellow directors Yvonne Walker and Raymond Cowan after looking for ways to reuse the large amounts of ash left after waste is incinerated.
READ MORE: Private equity investors see potential in Edinburgh food waste to energy plant
A graduate of Robert Gordon University, Mr Skene has spent more than ten years working on energy from waste projects with businesses such as Agile Energy Recovery.
Cement production is reported to account for around eight per cent of global carbon dioxide emissions.
Mr Wilson founded Ecosse Subsea Systems in 1996 and grew it into a global player in the market to provide services such as subsea trench-digging for oil and gas and renewable energy firms.
He sold Ecosse for more than £50 million in 2018 to US heavyweight Oceaneering International.
Mr Duguid founded Enermech with Michael Buchan in 2008, to provide engineering services on offshore equipment such as cranes and used acquisitions to help the firm achieve growth around the world.
READ MORE: Aberdeen oil services firm sold in blockbuster deal
The firm was bought by US private equity giant Carlyle in 2018 in a deal it is thought was worth £450m.
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