The Resource Recovery Market Development Fund has been launched in Craigieburn, where a trial is being undertaken to resurface a road using an asphalt mix containing plastic bags, printer cartridges and glass.
The Victorian Government announced the new $2.5 million fund to help develop markets for Victoria’s recyclable waste, and boost research and development into recycling.
Construction firm Downer received $67,000 from the fund, which will be managed by Sustainability Victoria and support researchers and industry in finding new ways to use recovered resources.
Minister for Energy, Environment and Climate Change Lily D’Ambrosio said, “There are many ways that plastics and glass can be recycled, but these initiatives often need a kickstart.”
Downer estimates that up to 15 per cent of asphalt could contain soft plastics and that up to 10 million tonnes of recyclable waste could be diverted from landfill every year using their new approach.
Sustainability Victoria provided Close the Loop with $40,000 for equipment to develop the plastic additive used in the asphalt mix.
The fund builds on $80 million over four years invested by the Labor Government into waste and resource recovery.
Applications for the Resource Recovery Market Development Fund will open in July.
