American Beverage, in partnership with Closed Loop Partners, announced a $3 million loan to support the San Antonio-based facility of Balcones Recycling, one of the largest independent privately held recycling companies in the U.S. The loan, part of a multi-million-dollar investment across several partners, supports the development of a new 200,000 square-foot materials recovery facility.
The new facility will impact nearly 1.5 million San Antonio residents, multifamily buildings and commercial customers by better sorting and cleaning recyclables, allowing more materials to be processed and remade rather than wasted in a landfill. 鈥淭his state-of-the-art facility is a critical step toward improving San Antonio鈥檚 recycling infrastructure,鈥� said Carol McGarah, executive director of the Texas Beverage Association. 鈥淲e are proud to be a part of this project and build on Every Bottle Back鈥檚 work in Texas to ensure recyclables, like our bottles and cans, are remade into new materials as intended.鈥�
The $3 million loan to Balcones from American Beverage, through Closed Loop Partners鈥� Infrastructure Group, financed the installation of new equipment to improve the processing and recycling of materials and adds recycling capacity at the facility. With new sorting technology, the facility aims to significantly improve the recycling rate of a range of materials including polyethylene terephthalate (PET) plastic bottles, which will be returned to supply chains and can be used for new bottles, helping keep these materials in circulation.
鈥淐losed Loop Partners is proud to be a longstanding partner of the American Beverage Association, working collaboratively to strengthen recycling infrastructure and advance a circular economy for materials in the U.S. We are excited to support the development of Balcones鈥� facility in San Antonio alongside a diverse group of stakeholders and financing partners,鈥� says Jennifer Louie, managing director and head of the Closed Loop Infrastructure Group at Closed Loop Partners.
This project is expected to yield nearly one million tons of recyclables over the next decade. This includes nearly 60,000 tons of PET plastic and more than 20,000 tons of aluminum, both of which are used to make recyclable cans and bottles.