Nonprofit polyolefin recycling company Polyco is preparing to kick off its final project funding cycle for 2015, which would see the two-year-old company invest another R9-million in projects to grow the recycling volumes of polyolefin packaging products in South Africa.

The company’s third 2015 call for proposals – focused on supply chain efficiency projects for mechanical recyclers – would start on August 17, with the final submission date set for September 25 for recycling companies interested in obtaining interest-free loans to ramp up their recycling initiatives.

This followed on the closing of the second round in May, which would result in about R5-million being invested into the recycling industry once Polyco finalised its evaluation and announced its preferred projects early in August.

“Three times a year, Polyco issues a call for proposals from either collectors or recyclers who need funding support to take their businesses to the next level. To enable this process, Polyco has developed a self-sustaining funding model,” explained CEO Mandy Naudé.

Polyco provided 80% of its funding support through interest-free loans repayable over three years, with the balance provided through grants redeemed against recycling growth volumes.

The nonprofit group said R17-million had already been injected into various separation, collection, sorting and recycling projects across South Africa.

This was in line with Polyco’s ambitions of growing the recycling of one of the most common types of plastic – polyolefin packaging products – by a further 300 000 t over the next five years.

“Making up approximately 70% of plastics packaging in South Africa, these plastics bear the polymer identification codes two, four or five, and are tough, resilient and in high demand, owing to the fact that they are 100% recyclable,” she added.

In 2014, 171 000 t of polyolefin was recycled, representing a recycling rate of 31.8%. The Integrated Waste Management Plan’s recycling target rate was 35% or 238 000 t of recycled polyolefin by 2020.