A company which turns waste into recyclable materials has secured a £2.5 million funding package.

P&D Material Recovery, based in Chatham Docks, has bought new machinery which will automatically sort waste material into categories, allowing up to 90% of it to be recycled.

The company will have capacity for up to 22 tonnes an hour, removing aluminium, ferrous metals, paper, cardboard, plastic film and plastic bottles.

This can then be exported as a commodity.

Launched last year, its directors David Jenner and Paul Watkinson who have more than 50 years’ experience between them in the waste management industry, having worked for industry giants including Biffa.

Mr Jenner said: “Current recycling methods often mean a great deal of material remains in the process, which then ends up either going to landfill or incineration.

“The loss of good-quality recyclate to burial or combustion significantly hinders the industry’s aspirations to achieve a more circular economy.

“Having worked in the industry for a long time we identified the need to change this, especially as legislation around recycling is tightening.

“The latest tranche of funding will allow us to get our operations off the ground and start paving the way as one of the leading waste management services in the country.”

Luke Ponikwer, relationship manager at Lloyds Bank, which provided the £2.5 million funding package, said: “The facility we provided combines trade and asset finance, and enabled the business to make staged payments to European suppliers during the shipment and installation period, and then continue to invest in its operations without impacting day-to-day working capital.”