MDF Recovery receives further funding boost as it nears commercialisation27 June 2018
A North Wales company that is developing a world-first technology to recycle MDF waste has received new funding of £165,000.
MDF Recovery, which won a TTJ innovation award last year, has secured the additional investment from a group of angels who have previously backed the business.
The company is nearing commercialisation having successfully concluded proof of concept trials to develop a commercially viable process to recover wood fibre from used or off-cuts of MDF.
The process is designed to offer the first ever alternative to landfilling or incineration of MDF and offers a closed loop recycling opportunity for the wood panel sector.
The company, based on Anglesey, has previously attracted funding from SUEZ Recycling and Recovery UK and Innovate UK.
Craig Bartlett, MD of MDF Recovery, has also brought on board two non-executive directors, Henry Dixon and Steve Harvey.
“The new funding and the appointment of Henry and Steve come at an important stage in MDF Recovery’s journey,” said Mr Bartlett.
“Our innovative technology has attracted the interest of various parties including the manufacturers of MDF materials and MDF equipment as well as other engineering companies.
“As we gear up for the accelerated growth of the business, it is important we have the best team in place to ensure we achieve our commercial objectives. Henry and Steve have important skills which will be invaluable as we move forward.”
MDF Recovery’s solution generates a new secondary material source for the wood/natural fibre industry that displaces the need for new virgin materials and comes at a time when demand for virgin timber from many other sources is growing.The company has a pilot plant which is currently being used to optimise the process and host demonstrations for industrial end users.