Brookfield to invest up to $700 million in U.S. recycling business

Publicly traded Brookfield Renewable Partners LP struck a deal with Closed Loop Partners LLC to establish a company called Circular Services.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300A welcome email is on its way.

Brookfield has invested US$200 million for a minority stake and committed as much as US$500 million more to help Circular Services pursue growth opportunities. The investment is being made via the Brookfield Global Transition Fund. “There’s a massive opportunity to scale up the recycling infrastructure to actually provide more of the product that’s really in demand, which is recycled materials,” Natalie Adomait, chief investment officer of the transition fund, said in an interview. The recycling rate in the U.S. is around 20 per cent to 30 per cent of waste, compared with 50 per cent in Europe, she said.Article content

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