Investment & Fund Management
which provided a loan guarantee backed by the European Investment
Full Credential Description
Bage Plastics, established in 2014, specializes in recycling shredded fridge plastics and converting them into high-value plastic granules and compounds. This innovative approach allows them to replace primary raw materials in various products, including plant containers and electrical equipment, thereby reducing costs and promoting environmental sustainability. The company's mission is to support a closed-loop economy by maximizing material recycling and minimizing waste, as articulated by Ms. Luisa Bernardi, Head of Marketing.
Despite their rapid growth and status as one of the largest fridge recycling companies in Europe, Bage Plastics faced significant challenges in securing financing for new machinery. Local banks were unwilling to take risks on the young company, requiring a guarantee as a precondition for any loan. To overcome this hurdle, Bage Plastics sought assistance from aws, which provided a loan guarantee backed by the European Investment Fund (EIF) and the EU. This support enabled the company to acquire the necessary machinery to meet high demand, facilitating their continued growth and operational capacity.