The joint venture of MBA Polymers Inc. and European Metal Recycling Ltd. may decide by the end of August or September on the site of its next plant for recovering plastic resin from the waste of end-of-life durable goods.
``We might base the plant in the [United Kingdom] or maybe in China,'' said Michael Biddle, MBA founder and president. ``Anything is fair game'' although financial incentives may drive the decision.
``We hope to be up and running in a year or so,'' Biddle said.
MBA is in Richmond, Calif., and EMR in Warrington, England.
The new site will focus on shredder residue from the recycling of cars and initially will have a rated annual capacity of 132 million pounds that could be expanded to 176 million pounds.
The plant will use specialized equipment that can concentrate shredder residue at a metal recycler's site. Then that residue can be shipped to an MBA facility to be recycled. EMR is using that type of equipment in England.
MBA has secured another $40 million in funding ``to grow with this next plant and further plants beyond that,'' Biddle said. ``We hope to build a plant a year.''
Leaders of the new funding round are Honeywell Capital Management and Citi Sustainable Investments, part of New York-based Citigroup Inc. Others include current investors Doughty Hanson & Co. and Balderton Capital, both of London, and Asia West LLC of Greenwich, Conn.
A funding round in May 2007 obtained $20 million.
MBA employs about 200 at joint ventures Guangzhou GISE-MBA New Plastics Technology Co. Ltd. in Guangzhou, China, and MBA Polymers Kunststoffverarbeitung GmbH in Kematen, Austria; and at its headquarters/pilot facility in Richmond.
The plants in China and Austria each have rated annual capacity of 88 million pounds and primarily recycles electronic waste.
``We are getting a lot closer to the rated capacity'' at each site, Biddle said in a telephone interview. ``Once the third plant is running, we will have a roughly 50-50 split between automotive and electronics'' recycling streams.