Closed Loop funds truck purchases

Closed Loop Partners has announced its Infrastructure Fund has agreed to a second loan to support the municipal recycling efforts of Broken Arrow, Oklahoma.

Closed Loop, based in New York, says its Closed Loop Infrastructure Fund (CLIF) signed and funded its second loan to the Broken Arrow Municipal Authority. The new loan of $1 million is being used to help Broken Arrow purchase five new automated side loader recycling trucks.

Last year, the CLIF closed its first loan of $2.6 million to Broken Arrow to help purchase more than 37,000, 96-gallon recycling carts, three recycling trucks and four maintenance vehicles.

“Our work is centered in advancing more efficient circular supply chains for recyclable materials—from the collection to processing stage,” says Ron Gonen, founder and CEO of Closed Loop Partners. “The Broken Arrow Municipal Authority plays a key role in this work, building systems to ensure that valuable recyclable materials are collected and kept in circulation. We’ve made good progress advancing recycling in the Southwest United States, and we look forward to seeing that continue.”

Jerry Schuber, director of solid waste and recycling in Broken Arrow, says “The new equipment helps us increase our tonnage and diversion rates so that we’re diverting more waste from the landfill and into efficient recycling systems. We have a goal of increasing diversion tonnage to 25 percent of solid waste generated. The new equipment will help tremendously with achieving that goal.”

Broken Arrow’s Recycling Program serves 35,000 households in the city, according to Closed Loop. The city of about 100,000 people is considered the largest suburb of Tulsa, Oklahoma.