Coca-Cola Enterprises, the US-based drinks multinational, has helped UK-based plastic recycling company Eco Plastics raise £24m ($39m) in financing. 

Coca-Cola invested £5m, was joined by Ludgate Environmental Fund, which invested the same amount. The remainder was raised through debt, with UK-based bank Close Brothers acting as a financier.

The funds would help Eco Plastics double its British production of material for soft drinks, it said. The Coc-Cola investment was first revealed in March, as part of a joint venture, and…