Gateshead’s GAP Group creates jobs in HSBC UK-backed plastic recycling venture

A recycling firm says it is primed to lead a dramatic cut in UK plastic exports following eight-figure funding.

Gateshead-based GAP Group is installing a 50,000sq ft plant capable of separating plastic components from electronic goods.

Bosses say the venture – which will create 20 jobs – will turn traditionally difficult-to-recycle rigid plastics into components for future products while significantly reducing exports.

The HSBC UK-backed outlay further boosts GAP Group’s green operations, with the business already recycling around 2000 fridges a day and separating materials such as cabling, copper, aluminium and circuit boards for new use.

Director Peter Moody [pictured, above] said: “The team at HSBC UK have really taken time to understand our industry and support the needs of our business.

“They’ve been fully invested in our goals to achieve both a circular solution and net-zero and we look forward to celebrating this milestone and continuing our relationship with them.”

Ben Foster, HSBC UK’s relationship director, added: “It’s brilliant that GAP Group’s ambitions are helping us to reduce our recycling exports.

“Electronic devices can be complicated to recycle, so it’s been fantastic to work with a company that’s enabling them to become part of the circular economy.”