Leicester-based recycler K2 Polymers has invested £500,000 in machinery with a goal of increasing turnover by £1m to £3.5m.
The firm, which handles steel and fibre reinforced plastics, processes material from the global offshore oil and gas industries. Its investment was made possible by funding from Yorkshire Bank's Leicester Financial Solutions Centre.
Managing director Kevan Kirby told the Leicester Mercury: "We've been at the forefront of recycling complex fibre and steel reinforced plastics for many years and investing in the new machine will enable us to double the production we do on site.
“We're reprocessing materials from all over the world in Leicestershire, from piping used in the North Sea to the Gulf of Mexico and Brazil.”