Binn Group, an integrated recycling and waste management centre based in Glenfarg, Perth, will use the funding to purchase a new state-of-the-art picking line.

This machinery will significantly improve efficiency, allowing Binn Group to significantly increase the volume of material it recycles from 15 tonnes of waste per hour to 50.

The new picking line will also enable Binn Group to recycle additional materials, reducing end of life waste.

Allan MacGregor, CEO at Binn Group, said: “We are incredibly thankful to HSBC UK for assisting us in improving the site through Green Asset Finance Facilities. The new picking line is the next step in our mission to drive the waste management sector toward being a more sustainable, environmentally friendly industry.”

Neal Tully, global relationship director at HSBC UK, said: “We have worked closely with Binn Group for the last eight years. It has been brilliant watching the business expand as it continues to focus on reducing landfill waste as much as possible.”

The new recycling line sits within Binn Group’s 62-acre eco park which also includes a wind farm, wood recycling, green waste composting, anaerobic digestion, fridge recycling and energy from waste facility under construction.