CHICAGO, IL--(Marketwired - March 08, 2016) - Lakeshore Recycling Systems (LRS), Chicagoland's leading independent recycling and waste diversion provider, and Closed Loop Fund, a leading social impact investment fund, today announced they will hold a ribbon cutting ceremony and tour of a new $8.5M Machinex^® single-stream recycling system at LRS' Heartland Material Recovery Facility: 6201 W. Canal Bank Road in Forest View, from 11 a.m. to 1 p.m., Wednesday, March 16.

Not available anywhere else in greater Chicago, the new 40,000 square-foot single-stream recycling system harvests over 110,000 tons of high-grade residential and commercial single-stream recyclables, and sorts, separates and allocates over 20 tons of waste per hour. The installation and ongoing operation of the new system will result in more than 100 well-paying jobs in Cook County, and reinforces LRS' commitment to diverting more waste from landfills than any other waste and recycling services provider in the region.

LRS also announced the creation of more than 100 new jobs in Cook County as a result of the installation, maintenance and ongoing operation of the new system, which works in conjunction with LRS workers to generate a higher quantity of recyclables for local and global recycling outlets.

"Our investment in the new Machinex single-stream system marks a watershed moment in our history, and another example of our steadfast commitment to accelerating the reuse and recycling of waste in the Chicagoland market," said LRS Chief Executive Officer Alan T. Handley. "We are proud to join forces in this endeavor with the Closed Loop Fund, and look forward to welcoming local dignitaries to our Heartland facility to celebrate this true milestone in the Chicago recycling movement."

LRS differentiates from other Chicagoland haulers through competitive pricing, innovative technology, and by owning no landfills as part of its proven business model focused on sustainability. The company serves all 605 Chicago Public Schools, eight area City Colleges of Chicago sites, and is expanding aggressively in Chicago's north shore, where LRS became the first waste and recycling company to introduce organic recycling in Illinois. Organic recycling combines landscaping and food that LRS turns into compost. LRS serves residences and businesses in Winnetka, Glencoe, Highland Park, Highwood, Deerfield, Bannockburn, Riverwoods, Evanston, Skokie and Golf and anticipates continued growth throughout Chicago's collar counties.

"Closed Loop Fund is proud to partner with Lakeshore Recycling Systems to significantly expand recycling capacity in Chicagoland, create local jobs, and improve resiliency for taxpayers. Lakeshore is a best-in-class leader in the recycling industry that is building a replicable model demonstrating that recycling makes environmental and financial sense for cities across the country," says Rob Kaplan, Managing Director of the Closed Loop Fund.

About Closed Loop Fund
Founded in 2014, Closed Loop Fund is a social impact investment fund that provides cities access to the capital required to build comprehensive recycling programs. Closed Loop Fund aims to invest $100M by 2020, with the goal to create economic value for cities by increasing recycling rates in communities across America. Closed Loop Fund brings together the world's largest consumer product, retail and financial companies committed to finding a national solution to divert waste from landfills into the recycling system for use in the nation's manufacturing supply chain. CLF members include 3M, Coca-Cola, Colgate Palmolive, Dr. Pepper Snapple Group, Goldman Sachs, the Johnson & Johnson family of consumer companies, Keurig Green Mountain, PepsiCo, Proctor & Gamble, Unilever, Walmart and the Walmart Foundation. For more information visit www.closedloopfund.com.

About Lakeshore Recycling Systems
Serving Chicagoland for over 17 years and headquartered in Morton Grove, Illinois, Lakeshore Recycling Systems (LRS) is Chicagoland's leading recycling and waste diversion services provider. LRS specializes in recycling and waste diversion programs, affordable roll-off container services and comprehensive waste removal to businesses and residential homeowners. LRS operates five Material Recovery Facilities (MRFs), a fleet of fuel-efficient natural gas-powered trucks, and is run by more than 500 committed full-time employees. LRS is a recipient of Chicago Public Schools' coveted Best Partnership Award, and is ranked #31 on Waste360's 2015 Top 100 waste and recycling companies in North America. At over 2 million tons-per-year, no other independent company in Illinois collects, diverts and recycles as much as LRS. LRS owns no landfills and is committed to raising awareness and fostering discussion on the importance of recycling to fuel a more circular economy and a business model rooted in sustainability. To learn more, visit www.LRSrecycles.com.