Majestic Corporation Plc (AQSE:MCJ) founder and CEO Peter Lai speaks with Proactive's Stephen Gunnion about the company’s role in revolutionising recycling within the precious and base metals sector. Founded in 2018, Majestic Corporation specialises in sustainable circular economy solutions,...

TDR’s financing comes after Stonegate faced defaulting on its £3 billion debt pile, with the British investor sacrificing its stake to one of the pub group’s lenders.

We believe that awareness and education is one missing piece, but in general we see that the larger missing puzzle piece is the general approach to simple access to plastic recycling. It's like a lost or a missing art or craft. Although the entire world talks about plastic and recycling, there is almost no access for people to simply and cost-efficiently take part in it.

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David McDowall, the chief executive of Stonegate, said: “We have always said we would achieve the right outcome on our refinancing requirements, and I am delighted we can now move forward with confidence and certainty, having achieved our balance sheet goals.”

Leo joins us with a degree in Media Production from Bournemouth University. His work includes reporting for the UK editorial team and video editing for the broadcast team. He comes with an expertise in video editing and producing. Leo’s specialities include hospitality and leisure, support services, tech and video games. Read more

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Albacore Capital Group is one of the lenders included in the refinancing, with the private equity firm receiving a stake and a seat on the board in return for the cash injection.

TDR’s decision comes weeks after it took a controlling stake in Asda, with it now owning 67.5% of the supermarket due to Zuber Issa offloading his share.

Announcing the partnership during PRSE, Manfred Hackl said: "The young founders and their dedicated team exude pioneering spirit, want to shape the future with their work and put their heart and soul into the circular economy and plastics recycling. We believe in this company. plasticpreneur can enable plastics recycling in areas where no recycling is possible.”

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Mr Hackl was open for any kind of support from the first day we met – even when we had not yet started discussions about a partnership or shares. We have gained a lot of insights and motivation through the regular meetings we had with him and others from the EREMA Group. Through its know-how and EREMA’s standing in the recycling industry we hope to be able to connect with other like-minded people and expand the access to small-scale plastic recycling.

The compact, hand-made machinery of Austria-based start-up plasticpreneur caught the eye of Rob Coker during the Plastics Recycling Show Europe (PRSE) 2022 in Amsterdam. There he learned from CEO Sören Lex how the equipment had also caught the eye of recycling machinery giant EREMA Group, which has acquired a minority share in the business.

Today’s refinancing allows Stonegate to extend its borrowings until 2029, easing some of the pressures facing the company as it continues to navigate a difficult period due to the pandemic and cost of living crisis.

We have presented as speakers at a conference and EREMA Group CEO Manfred Hackl was in the audience. Right after the presentation we connected and started a conversation. It seemed that for Mr Hackl it was quite eye opening to work on small-scale, decentralised plastic recycling solutions.

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Stonegate, which owns around 4,000 British pubs, previously warned that there was “material uncertainty” over the ability to continue as it attempted to refinance around £2.2 billion of its debt.

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Slug and Lettuce owner Stonegate is set to be rescued through a £250 million cash injection from private equity firms which include Asda owner TDR Capital.

It is very simple. People without any prior knowledge can recycle plastic waste into new products within minutes. The machines can be operated very simply and, depending on the set-up, they can be even shipped by courier to arrive on your doorstep. That's why our machines are now in use in more than 70 countries. They come pre-assembled, ready to use, and everybody can become a plastics recycler. Only single-phase electricity is needed; they are light and mobile and therefore simple to move around.