CEFC finance helps Visy increase recycling, cut emissions

CEFC finance helps Visy increase recycling, cut emissions

The Clean Energy Finance Corporation (CEFC) is providing funding to help significantly increase the waste recycling and processing capabilities of Visy Industries, in part to offset the impact of changes in the international recycling market.

Visy currently recycles 1.2 million tonnes of paper and cardboard each year, and plans to invest $30 million of CEFC finance across a range of energy-efficient, renewable and low-emissions technologies over the next four years. The finance is part of a pipeline of potential projects to increase Visy’s manufacturing capacity to recycle waste materials by 10%; increase the amount of materials that can be recycled via better processing and sorting technologies; and increase renewable energy generation internally to help offset grid energy needs.

“With this investment, Visy will upgrade its existing recycling infrastructure as well as invest in new equipment to support greater resource recovery,” said CEFC Bioenergy Sector Lead Henry Anning. “This is about processing non-recyclable waste so we reduce landfill volumes and also cut emissions from decomposing waste.

“We see clean energy technologies playing an increasingly important role in enabling Australian industry to reduce its energy intensity and better manage its energy-related operating costs. Visy is already a great example of this, meeting a part of its energy needs, including heat, through its existing biomass and energy from waste investments.

“The CEFC finance will allow Visy to further complement these energy sources with new investment to lift the overall energy efficiency of its operations. These are proven technologies that can be considered right across the manufacturing sector.”

“Visy is an Australian and global leader in recycling and the use of energy-efficient and renewable energy technologies,” added CEFC CEO Ian Learmonth. “We are proud to work with the company to respond to the urgent waste crisis we face.

“As a major Australian manufacturer, Visy is also leading the way in investing in energy-efficient equipment and technologies to help power its 24-hour operations. We see this as a model for other manufacturers grappling with high energy prices and commend Visy on its leadership.”

Image credit: ©stock.adobe.com/au/Olivier Le Moal

Related News

Emissions reduction commitments laid bare

A new initiative will track emissions reduction commitments made by Australian companies,...

Solar Victoria appoints new CEO

Solar Victoria has appointed a new CEO, Stan Krpan, who will lead the implementation of the state...

Developing low-cost tandem perovskite solar cells

Research is underway at the University of Toledo to create a high-efficiency, low-cost material...

  • All content Copyright © 2019 Westwick-Farrow Pty Ltd