PRS obtains the recognition of the European Commission, which grants it financing amounting to 1.6 million Euros
The Navarrese company has been selected among 2,025 SMEs from all over Europe
The Navarran company Plastic Repair System 2011 SL (PRS)leader and pioneer in the repair of returnable transport packaging (RTP) made of plastic, has obtained a financing of 1.6 million euros, after having passed Phase II of the SME Instrument, of the EU H2020 Research and Innovation Program under grant agreement # 880032. The SME Instrument is a European Commission financing tool aimed at supporting those SMEs, traditional or innovative, that have the ambition to grow, develop and internationalize, through an innovation project with a European dimension.
PRS has been one of the 94 companies selected, among the 2,025 SMEs that presented themselves from all over Europe, in this call. To overcome this second Phase, the company defended its project in Brussels, before the experts appointed by the European Commission, who valued the proposal of PRS from the point of view of the solution it brings to the market, its added value, the risks and opportunities, the competition, the business model, the commercialization, the marketing strategy and the financial projection of the company.
RECYCLING IS 187 TIMES MORE POLLUTANT THAN REPAIRING
PRS is a benchmark company in Circular Economy, which thanks to its repair service achieves the total recovery of the functionality of the repaired object, an economic saving of 70% for its customers, and a CO2 emission 182 times lower than that produced with the next best alternative to repair, which would consist of recycling and subsequent replacement of ERTs, such as pallets, containers, boxes, pallets, etc.
In 2018 , PRS repaired more than 100,000 plastic packaging, which has led to the reuse of more than 1,575 tons of plastic. By avoiding the disposal and replacement of these packaging,PRS has achieved a retention of more than 6,917 tons of CO2, which would have been emitted by other alternative solutions to repair, such as recycling, incineration, or burial.
BUSINESS STRATEGY
PRShas been in business for more than eight years, and has a Network of 17 Authorized Workshops, distributed throughout the national geography, of which 4 are Special Employment Centers.
Currently, it is the undisputed leader in our country in the repair and maintenance of plastic packaging solutions for transport and, last September, it launched its first facility outside the national territory, specifically in the State of Puebla (Mexico ).
During the current year 2019, the company has increased its own funds, by another million and a half euros, through the contributions made by its partners, the incorporation to the capital of Easo Ventures, Private Venture Capital Company, of the Basque Country, and the obtaining a loan from the National Innovation Company (ENISA).
This increase in equity, together with the financing now obtained, by the European Community, in addition to allowingPRS continuing with its internationalization plan, in its aspiration to also lead the European market, will allow it to develop other projects: new technologies for the repair of different plastic materials, the automation of certain phases and other improvements in the industrialization process, as well as the improvement in the traceability of the repairs carried out.
To face these new challenges, the Company has also introduced important changes at all levels. There have been two new additions to the Board of Directors: that of Pedro Muñoz-Baroja, Managing Partner of the Venture Capital Company recently incorporated into the Share Capital and that of Patxi Arboniés Corera, who assumes the Presidency of the Board, after having been in charge of the General Management of the company, for more than six years.
The new General Management is occupied by Mª Eugenia Sádaba Etayo, a Law graduate from the University of Navarra and with a long career in the business world, very specifically in the area of the Environment and Circular Economy. Likewise, the company has reinforced the Production department and the R + D + i department with the hiring of two engineers.
PRS ACKNOWLEDGMENTS
In 2018 PRS received the Seal of Excellence and passed Phase I of the EC SME Instrument Project, also receiving in Spain, from the Ministry of the Environment, the European Environment Award for Business in Spain (EBAE), as well as an Accésit in the European Phase. The EBAE represent the highest distinction, both at national and European level, in environmental matters.
In 2019, in addition to passing Phase II of the EC SME Instrument Project, PRS has also received the Innovative SME Seal, by the Ministry of Industry, Commerce and Tourism.
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