Closed Loop Partners extended a multi-million-dollar catalytic loan to Superior Fine Grind, a family-owned recycling plant based in Connellsville, Pennsylvania.
The financing will help the company expand recycling services in rural communities in Appalachia, where such infrastructure remains limited compared to urban areas.
Closed Loop’s Catalytic Capital & Private Credit arm, which provides flexible and below-market loans for circular infrastructure, led the investment. Closed Loop, founded in 2014 and backed by corporate investors including PepsiCo and Walmart, has deployed more than $500 million across 80 companies.
Last year, Closed Loop invested in Eureka Recycling to increase recycling access to residents in Minneapolis.
Recycling
According to the Institute of Scrap Recycling Industries, the US recycling industry supports almost 600,000 direct and indirect jobs and contributes nearly $169 billion annually to the national economy. Yet less than a third of Americans have access to curbside recycling and rural communities are even more underserved, with collection rates often less than half those of urban areas.
