SPF’s inaugural investment is particularly timely, as it anchors the fast-growing and hugely successful Pulse Plastics business in its home region, in the face of stiff competition from locations in the Southeast of England.
The £1.7m SPF loan is set to generate 30-40 new jobs over time, in a long-established company that complements two of CCR’s wider sector priorities: Energy & Environment (Pulse Plastics’ pioneering reprocessing of high-grade material prevents the use of new plastic in a wide range of industries) and MedTech (reprocessed plastics are increasingly being used in the manufacture of medical supplies, enabling Pulse to become part of the ecosystem for one of CCR’s most important priority sectors).
Matt Southall, Managing Director of Pulse Plastics Limited, is delighted to have secured the ideal location for the growth of a business that is carving out a high-value niche in sustainability:
“Pulse has been championing green solutions in the plastics sector for 25 years and the move to this fantastic site on the Rassau Industrial Estate will ensure we continue for the next 25 years – helping clients such as Tata, ArcelorMittal and Vernacare address the serious impact of the Plastics Virgin Tax, and preventing materials going to landfill and incineration.
“Our current 18,000 square foot site in Abercarn has served us well, enabling us to become a leader in recovering, reprocessing and reusing plastics, manufacturing a wide range of products for use in different industries – and our new home on the Rassau Industrial Estate is the perfect place to grow further and radically transform our business ratios.
“We will be futureproofing the business with further significant investment in renewable energy on the 5-acre site, bringing the potential for a substantial rise in production and reprocessing levels, and significant new job generation, with 20 roles being secured or created immediately.”
Councillor Stephen Thomas, Leader of Blaenau Gwent Council, warmly welcomed the investment:
“We enjoy a close and productive working relationship with CCR and thoroughly endorse the SPF investment in a business that is a key employer within the region – a local success story that is returning to Blaenau Gwent and quite rightly earning plaudits for its pioneering work in helping create a more sustainable world.”
Rob O’Dwyer, Head of Infrastructure for CCR, says:
“This loan is a perfect example of what the SPF is for – supporting the delivery of new and refurbished employment space, facilities and premises, to maximise opportunities for growing businesses across the entire Region. I’m sure it’s the first of many SPF investments that will help drive indigenous growth, attract inward investment and strengthen confidence in our key sectors.”
George Richards, Senior Director Investment Advisory at CBRE, who manages the Strategic Premises Fund on behalf of CCR, said:
“This is an excellent, ground-breaking investment in a target project that reflects CCR’s priorities across innovation, business growth and regeneration.
“The SPF is geared to increasing and accelerating private-sector-led development and site-specific infrastructure, and as the appointed fund advisor, we are keen to build on this success, shaping further investments to support businesses across South East Wales and boost the wider economy.”