The Connecticut Department of Energy and Environmental Protection (DEEP) announced last week a statewide public-private partnership with Closed Loop Fund targeting a $5 million investment in recycling infrastructure in Connecticut in 2018. The investment will come in the form of 0% loans to municipalities and below-market loans to private companies with substantial business operations in Connecticut. DEEP will assist in the identification and initial due diligence screening for applicants.
Closed Loop Fund invests in sustainable consumer goods, advanced recycling technologies, and the development of the circular economy. Closed Loop Fund aims to invest $100 million by 2020 with the goal of creating economic value for cities by increasing recycling rates in communities across America.
In 2017, Closed Loop Fund partnered with City of Waterbury to increase recycling rates through an investment in recycling trucks as well as 95 gallon recycling containers for every household in the city. Early returns show that Waterbury’s recycling rate doubled in the first month of the new program.