The Victorian Government, a state government in Australia, has chosen Plasgain and Pinegro, two local companies, to support the state’s efforts to shift towards a circular economy system.
The two selected businesses, will receive funding through the A$2.25m ($1.46m) Circular Economy Infrastructure Fund.
Go deeper with GlobalData
Plasgain will be granted A$250,000 to develop light poles made from recycled plastic, known as ‘Plaspole’.
The initiative, which will create approximately ten jobs, is set to reduce reliance on imported materials and virgin plastics in urban development projects.
Meanwhile, Pinegro has been allocated A$1m to install decontamination equipment at its Morwell facility within the state.
This installation will enable the conversion of an extra 65,000 tonnes of organic waste from household green bins into premium landscaping and garden potting mixes each year, creating eight jobs in the process.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThese investments form part of the national Labor Government’s A$515m overarching strategy to overhaul Victoria’s waste and recycling sector to further minimise waste and enhance resource utilisation.
Victoria Environment Minister Steve Dimopoulos said: “We congratulate Plasgain for its innovation, turning hard-to-recycle waste plastics into critical products for our construction industry – diverting additional waste from landfill and protecting our precious natural environments.”
