Funding of £550,000 has been secured by metal recycler Ultromex to expand its business.
The Merseyside-based firm intends to use the funding to increase its turnover to £10 million in the next few years.
Ultromex has developed a process that enables it to recover high-value metals from electronic and industrial waste. It is currently building an 8,000 tonne per annum plant in Ellesmere Port, Cheshire.
It has received the funding from the North West Fund for Energy and Environmental, which is managed by CT Investment Partners.
Ultromex founder and chief executive Jonathan Quinn said: “Working with the North West Fund for Energy and Environmental will enable us to develop our technologies further.
“Our products are focused on the specialised process and refining segments of the market. They allow businesses to recover more metals at lower operating costs, while simultaneously increasing their energy efficiency and lowering their carbon emissions.”
