We are proud to collaborate with Recykal, a portfolio entity of Morgan Stanley, to facilitate project financing for four plastic waste collection, recycling, and channelization projects across India. Recykal has rapidly emerged as a leader in the waste management sector, achieving remarkable scalability and impact within a short span of time. Leveraging our expertise in sustainable finance and environmental stewardship, we are working diligently to secure project financing that will enable Recykal to further expand its operations and drive positive environmental outcomes.
Recykal's transformative initiatives, including the Recykal Marketplace, EPR Loop, Smart Centre solution, and Deposit Refund System (DRS), have revolutionized the waste management industry. In just two years, Recykal has expanded its presence from 2 states to over 30 states and union territories in India. Furthermore, waste channeling has increased exponentially, from 10,000 metric tons annually to an impressive 200,000 metric tons in 2021. These achievements underscore Recykal's commitment to sustainability and innovation, positioning them as a key player in addressing the plastic waste challenge.
Our partnership with Recykal exemplifies our shared dedication to driving impactful change and fostering sustainable solutions. By facilitating project financing for Recykal's plastic waste management projects, we aim to catalyze further growth and enable the realization of Recykal's ambitious vision for a circular economy and a cleaner, greener future for India.