New Funding Announced

London Re-use Limited is delighted to announce a second tranche of investment from the London Waste and Recycling Board (LWARB), having exceeded its re-use and recycling targets for a third consecutive year.

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The new investment of £1.25 million is made up of a small £100k loan as well as a £1.15 million revenue participation agreement, will allow LRL to focus on growing the network and in particular to increase our retail presence.

Charles Craft, Managing Director of London Re-use said London Re-use is delighted with the further support from LWARB to achieve its goal of a network of sustainable re-use services working together across London…the investment will allow the network to grow its services throughout the capital and provide a greater diversity of benefits to Londoners whilst achieving environmental and social benefits for all’.

Matthew Pencharz, the Mayor of London’s Senior Advisor – Environment & Energy and London Waste and Recycling Board member said: ’With London’s population increasing by over 100,000 a year and commodity prices likely only to go up, London needs to become more resource efficient…LWARB’s investment into the London Re-use Network will divert thousands of tonnes of material that would otherwise be disposed of, saving Londoners money and carbon, and illustrating the value of a circular economy’.

The receipt of this funding means LRL look forward to an exciting and productive 2015 which will see us focus on our mission of the diversion of re-usable goods from landfill or incineration.

Key to achieving this will be LRL’s newly appointed Chief Operating Officer, Pyarali Jamal whose primary mandate is to lead LRL’s strategic planning and operational improvement as we move forward in 2015. Pyarali brings to LRL a wealth of experience in the public, private and third sectors, including Board appointments on Big Issue Invest.

Please visit the LWARB website for further information about funding agreement.