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2K Manufacturing is pleased to announce a multi-stage funding agreement with Foresight Group, a leading environmental investor, to support a multi-site rollout of plastics recycling facilities. The company will manufacture an environmentally friendly plywood substitute board for the construction industry. Foresight has supported a £5million funding package to open the first facility during 2009 as part of a larger framework agreement with Foresight to support rapid expansion of the company.

The multi award-winning "EcoSheet" is made from recycled waste plastics otherwise headed for landfill and is, in turn itself entirely recyclable. Ecosheet offers substantial environmental, commercial and operational benefits for its users, with the construction and signage industries being the main target markets.

To enable this, 2K has licensed the use of the ground-breaking Powder Impression Moulding ("PIM") technology, a patented process owned by ERT plc. The PIM process allows the production of strengthened plastic composite forms using low-grade co-mingled polymer material, in a low carbon footprint moulding process. This process essentially allows 2K to recover waste plastics and re-introduce them back into commercial applications. These products are themselves in turn fully recyclable at the end of their useful life. The licensing arrangement gives 2K exclusive rights to manufacture and sell these products within the EU, as well as the first option over other main territories.

Andrew Page, the Foresight partner responsible for the firm's investment in 2K Manufacturing, commented: "2K is one of a small group of leading companies in the field of waste plastic recycling, with its product addressing very large markets and offering a compelling proposition; cost savings and performance benefits as well as the obvious green credentials. The company has strong partners in the construction industry which give it a significant head start in capitalising on the opportunities which lie ahead."

Omer Kutluoglu, CEO of 2K Manufacturing, commented: "This milestone funding agreement enables 2K Manufacturing to fully implement its multi-site business strategy, with its first mass-production facility to open later this year. We are delighted to have teamed up with one of the UK's leading environmental investors, and enthusiastically welcome Andrew to the Board of Directors."

The East of England's green credentials have been given a significant boost via a £500,000 grant offered to 2K Manufacturing Ltd, manufacturers of the environmentally friendly, award winning 'EcoSheet'.

The EEDA funding will allow 2K Manufacturing to set up its first plant and start production of the 'EcoSheet' - an environmentally friendly alternative to Plywood.

The plant, which is to be based in Hertfordshire, is set to bring an anticipated 40 jobs to the area, and will be the first of its kind in the UK.

2K Manufacturing, which was established in 2007 by Omer Kutluoglu and Turul Taskent, will manufacture flat sheets made from recycled plastics, which would otherwise go into landfill.

Not only will the new EcoSheets help to save the planet, they are described as being better value and easier to use than the main alternative.

Trevor Conway - Access to Finance Manager said:
"The grant will enable 2K Manufacturing Ltd to set up a plant here in the East of England. Not only bringing an exciting new product to the region, but also an anticipated 40 new jobs. This is exactly the type of project The Grant for Business Investment programme was set up to fund. This is good news for the environment and good news for the region"

Omer Kutluoglu, director, 2K Manufacturing said:
"Thanks to the EEDA grant, 2K Manufacturing can set up base in the East of England enabling it to compete both in the UK and international markets. We have already been working hard and building relationships with the key players in the construction Industry. This looks set to be an exciting time for 2K Manufacturing and the construction industry as a whole".

2K Manufacturing are delighted to have been included in The Guardian Library House CleanTech 100 list of the "most promising private companies in Europe focusing on clean technology..".

For more, see: http://www.guardian.co.uk/environment/cleantechnology100