Re-turn planning to use some of its €89.8m to build bottle-to-bottle recycling facility

The company had a cash balance of €89.8 million at the end of last year, having retained €66.7 million in unclaimed deposits after the national recycling rate for drinks containers rose from 49% to 91% since the scheme’s introduction.

Re-turn, the operator of the country’s Deposit Return Scheme, is planning to build a multimillion-euro recycling facility for plastics, which it hopes will be operational by the end of next year.

The company currently exports up to 90% of PET plastic collected through the scheme due to the absence of a bottle-to-bottle facility in Ireland that can process the material needed to produce new drink containers.