Re Pet, a County Durham-based plastics recycler, is set to plough £1.6m in its production facilities with the help of a £100,000 investment from Wrap's Accelerating Growth Fund.
Having secured total second round investment support totalling £500,000 with money from Wrap, and with cash coming from other sources including the North East Accelerator Fund and some input from the company's management, Re Pet plans to upgrade its plant with a view to doubling its output to around 13,000 tonnes of material.
The investment strategy is also expected to lead to the creation of up to 25 jobs at the group's Houghton Le Spring facility in County Durham.
John Forrest, Re Pet's managing director, said: "We're delighted to have secured such substantial investment which will allow the expansion of our business to be accelerated."
Re Pet was founded in late 2010 and began processing mainly Europe-sourced material in March last year. Having started operations on a 4-day week schedule, by July the group's plant was working 24/7, such was the demand for its output, said Forrest.