LRS announces the grand opening of The Exchange, a state-of-the-art material recovery facility (MRF) revolutionizing waste management and recycling practices. The new facility is in the Stockyards neighborhood of Chicago and marks LRS’ pursuit to reshape the future of waste and recycling to lessen environmental impact across the Midwest.
The Exchange marks a significant milestone in LRS’ mission to foster positive change within the industries and communities it serves through responsible waste practices. The Exchange boasts an impressive processing capacity of 25 tons of recyclables per hour and plans for future expansion to 35 tons per hour, playing a pivotal role in enhancing waste diversion efforts in the Chicagoland area.
The Exchange has not only made significant strides in environmental sustainability but has also made a positive economic impact on the community. The facility has created over 50 new permanent positions and generated 95 construction jobs. Additionally, it supplies viable recyclable materials to numerous mills in the Midwest, contributing to regional economic development.
The development of The Exchange was made possible through an investment of over $50 million, along with crucial capital support from a range of different investors, including Closed Loop Partners, a leading circular economic investment firm. In partnership with Closed Loop Partners, LRS aims to integrate new technologies into the facility and bolster potential end markets for recycled materials, furthering the establishment of robust circular systems in the region.
The Exchange builds on a transformative beginning to 2023 for LRS. This period included the regionalization of all company operations and the strategic acquisition of Michiana Recycling and Disposal, as well as Environmental Recycling & Disposal and Moen Transfer Station. These impressive business moves serve as a strong indicator of the continued growth and progress that awaits LRS throughout the remainder of this year.