Circulate Capital invests in Indian plastic recycler Deluxe

Singapore-based investment management firm Circulate Capital has invested in Mumbai-based plastic recycling company Deluxe through its $112-million Circulate Capital Ocean Fund (CCOF I). Deluxe will use the funding to add three new facilities in western and southern India, which will increase its capacity three-fold. Deluxe recycles multilayer plastics (MLP) like sachets and used beverage cartons into new, valuable products such as pallets and rickshaw seats.