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Freepoint Eco-Systems Announces Project Finance Facility with ING

1. ING Capital closed a $50 million loan for Freepoint's upcycling facility. 2. This facility is a pioneer in plastic reclamation for hard-to-recycle plastic. 3. The facility processes 180 million pounds of plastic waste annually. 4. ING's involvement indicates commitment to sustainability and circular economy sectors. 5. Forecasts predict growing demand in plastics recycling and upcycling finance.

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Why Bullish?

ING's support for innovative sustainability projects could enhance its reputation and business prospects. Historical trends show financial institutions that back green initiatives tend to see positive market responses, akin to how investment in renewable energy firms boosted stock values in the past.

How important is it?

The article highlights ING's strategic investment in sustainable finance, which is increasingly critical in today's market dynamics. As sustainability becomes central to corporate strategies, ING's proactive measures in this realm may enhance its competitive standing and investor appeal.

Why Long Term?

The facilitation of this loan may establish ING as a leader in sustainability financing, potentially fostering long-term partnerships and diversifying revenue streams in green financing. Similar partnerships have historically taken years to materialize significant returns, reminiscent of the gradual rise of ESG-focused investing.

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FREEINGA NAINGA.ASING USING.N
, /PRNewswire/ -- Freepoint Eco-Systems LLC ("Freepoint Eco-Systems") is pleased to announce the closing of a $50 million non-recourse project finance facility for its plastic waste upcycling facility located in Hebron, Ohio. The term loan facility, underwritten by ING Capital LLC ("ING"), is the first of its kind in the developing plastic reclamation space for hard-to-recycle plastic. "We are excited to be partnering with ING in demonstrating that plastic upcycling facilities that utilize new technology have access to the project finance loan markets," said Jeff McMahon, Managing Director at Freepoint Eco-Systems. "At 180 million pounds per year of plastic waste processing capacity, our Hebron, Ohio facility is one of the largest commercial scale facilities in the world, reclaiming waste plastic destined for landfills or incineration and upcycling it into a hydrocarbon-rich liquid from which our customers make new products. We believe that this transaction is an important first step in executing our strategy to build numerous waste plastics upcycling facilities across the globe." Subha Pasumarti, Managing Director at ING Capital said, "We are thrilled to close this ground-breaking loan facility for Freepoint Eco-Systems' first commercial-scale upcycling facility. This transaction reiterates ING's commitment to support clients active in the circular economy and sustainability sectors. We anticipate demand for debt capital in the plastics recycling market will continue to grow as more waste plastic is recovered and recycled worldwide." About Freepoint Eco-Systems Freepoint Eco-Systems and its related companies are affiliates of Freepoint Commodities LLC, a global commodities merchant providing supply chain management services and eco-friendly products and solutions to its customers. Among other things, Freepoint Eco-Systems is in the business of helping companies and waste collectors improve their collection and disposal of plastic waste by upcycling it into a valuable commodity. Freepoint Eco-Systems and its related companies are engaged in business operations in the U.S., Europe, and Asia. More information can be found at www.FreepointEcoSystems.com About ING ING Capital LLC is a financial services firm offering a full array of wholesale financial lending products and advisory services to its corporate and institutional clients. ING Capital LLC is an indirect U.S. subsidiary of ING Bank NV, part of ING Groep NV (NYSE: ING), a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is: empowering people to stay a step ahead in life and in business. ING Bank's more than 60,000 employees offer retail and wholesale banking services to customers in over 100 countries. ING Group shares are listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N). Please note that neither ING Groep NV nor ING Bank NV have a banking license in the U.S. and are therefore not permitted to conduct banking activities in the U.S. Media ContactPaige ThorntonRF|Binder212-994-7554[email protected] SOURCE Freepoint Eco-Systems LLC WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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