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Inside Capital has invested about $3.1 million to support WeCycle’s proposed local and regional expansion plans.
- WeCycle currently collects waste paper and cardboard made in Mauritius and exports to recycling plants in Asia.
- The funding is expected to increase WeCycle’s waste collection capacity.
Mauritius private equity fund manager, Inside Capital, will be supporting WeCycle, a recycling company located in the island nation to make the country cleaner. Inside Capital has invested about $3.1 million to support WeCycle’s proposed local and regional expansion plans.
WeCycle which is based in Riche Terre North East of the capital Port Louis. The company’s speciality is the collection of recyclable waste paper and cardboard. The collected waste, in turn, is exported to recycling companies in India, Indonesia, South Korea and Madagascar. With this new funding, WeCycle is expected to increase its waste collection capacity considerably and impact the overall environment of Mauritius.
According to Ludovic Henry, CEO of WeCycle, the partnership with Inside Capital will also enable WeCycle to strengthen our current recycling services and allow them to offer an ultimate solution by transforming waste locally into raw material for the Mauritian packaging industry, thus solving waste disposal problems and contributing to a circular economy that will benefit the whole country.
WeCycle currently collects and sells about 5,500 tonnes of waste annually.