Partner Article

Merseyside metal recycling firm scoop £550,000 funding

Merseyside’s Ultromex Ltd has secured £550,000 to expand its metals recovery business to £10m turnover in the next few years.

The funding has come from the North West Fund for Energy & Environmental, managed by CT Investment Partners.

Ultromex has developed processes to recover high-value metals from electronic and industrial waste products.

The business operates alongside global metal recycling and industrial business, recovering valuable materials and lowering energy use and emissions.

Currently, Ultromex are commercialising processes for the recovery of metals from printed circuit boards and lead from leaded glass, with an 8,000 tonne per annum plant under construction in Ellesmere Port.

This latest funding will be used to develop processes for recycling of catalysts, industrial sludges and dross.

Jonathan Quinn, founder and chief executive of Ultromex, said: “Working with The North West Fund for Energy and Environmental will enable us to develop our technologies even further.

“Our products are focused on the specialised processes 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.”

Adam Workman, partner at CT Investment Partners and manager of The North West Fund for Energy & Environmental, said: “Metal recycling is a worldwide industry with more than 400 million tonnes of metals worth £200bn every year.

“Ultromex is a fantastic investment opportunity. The market for recycled metals has shown steady growth over the past 15 years and we expect this trend to continue further in the coming years.”

Adam Workman will join the board of the company as a non-executive director with immediate effect.

This was posted in Bdaily's Members' News section by Tom Keighley .