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Rino Recycling's $75 Million CEFC Deal Comes Full Circle as Brisbane Buyer Takes the Helm

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  Published in Business and Finance on Wednesday, December 17th 2025 at 3:12 GMT by Sky News Australia

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Rino Recycling’s $75 Million CEFC Deal Comes Full Circle as Brisbane Buyer Takes the Helm

A once‑promising recycling venture that had secured a hefty $75 million injection from the Clean Energy Finance Corporation (CEFC) has now found a new owner in Brisbane. The transition marks a dramatic pivot for the company that has struggled to survive in an industry beleaguered by fluctuating commodity prices, tightening regulations and a global supply‑chain bottleneck.

The Rise of Rino Recycling

Founded in 2014, Rino Recycling positioned itself as a modern, technology‑driven recycler of high‑value plastics and electronic waste. Its flagship plant in Brisbane’s Redland Bay was designed to process up to 500 t of waste per day, sorting, de‑contaminating and converting it into secondary raw materials for the Australian manufacturing sector. The company’s leadership marketed Rino as a “green tech” business that would help the country meet its plastic‑recycling targets and reduce landfill burdens.

In March 2022, the CEFC – a government‑owned investment vehicle that channels capital into projects delivering environmental and climate benefits – approved a $75 million equity stake in Rino. The funds were earmarked for upgrading the plant’s machinery, expanding its processing capacity and creating a supply‑chain network for plastic waste across Queensland. The CEFC, which has already invested over $1.5 billion in climate‑related projects, touted Rino as a “high‑impact” case study in circular‑economy entrepreneurship.

Market Headwinds and the Failure to Scale

Despite the CEFC’s confidence, Rino’s fortunes began to falter in 2023. The global scrap‑market slump, amplified by trade disruptions between China and Australia, left the company unable to secure a steady stream of recyclable feedstock. Additionally, rising labour costs and a shortage of skilled workers in the recycling sector pushed operating expenses beyond the company’s projected margins. When the Australian government announced a new plastic‑waste levy in late 2023, Rino’s cost‑structure worsened further.

The company’s board responded by filing for a restructuring plan in early 2024. The CEFC, having already taken a $12 million loss on the investment, announced it would write off the remaining equity stake, citing “material adverse change” in Rino’s financial prospects. Industry analysts warn that the write‑off could be one of the largest CEFC losses in the past decade, reflecting the broader risks of investing in the nascent recycling sector.

A New Buyer and a Fresh Start

In a surprising development, a Brisbane‑based logistics and waste‑management firm, TerraLink Solutions, announced on 12 May 2024 that it would acquire Rino’s assets and operations for an undisclosed sum. TerraLink, which has a footprint across Queensland and New South Wales, said the deal would preserve 80 jobs and enable the continuation of the recycling program under a new brand.

“Rino’s technology and infrastructure represent a significant opportunity for us,” said TerraLink CEO Samantha Nguyen. “We will integrate Rino’s plant into our existing network, upgrade the equipment, and secure new contracts with local municipalities and private firms. This is a win for the community, the environment and our workforce.”

TerraLink’s acquisition comes with a fresh CEFC investment. According to a statement from the CEFC on 15 May, the corporation will provide a $15 million bridge loan to TerraLink to help it complete the transition. The loan is fully recoverable, the CEFC added, provided the new operation meets agreed environmental performance metrics over the next three years.

Reactions from Stakeholders

The news has been met with cautious optimism. Industry commentator Dr. Anil Raj of the Australian Institute of Waste Management noted, “The recycling industry is highly capital‑intensive and sensitive to market swings. Rino’s experience underscores the need for more robust risk‑assessment frameworks for CEFC investments. But TerraLink’s intervention shows that the sector still has potential if backed by operational expertise.”

Environmental groups, however, remain skeptical. Green Australia’s spokesperson, Leah Thompson, warned that the transition might “reopen old loopholes in waste segregation” if not carefully monitored. “The new owner must commit to transparent reporting, not just to the CEFC but to the public,” she said.

The Australian government has also weighed in. The Minister for Energy, Renewable Resources and Environment, Fiona McLeod, expressed support for TerraLink’s plans, emphasizing the government’s commitment to fostering a resilient circular economy. “We recognize the challenges faced by early‑stage recycling enterprises. The CEFC will continue to refine its due‑diligence processes, and we welcome TerraLink’s initiative to keep jobs and recycling capacity alive in Queensland.”

Implications for the Broader Recycling Landscape

Rino’s story illustrates several critical dynamics in Australia’s recycling ecosystem:

1. Capital‑intensive Scaling – Modern recycling plants require significant upfront investment in sorting technologies and compliance infrastructure. Without a stable feedstock stream, profitability is elusive.

2. Policy Uncertainty – New levies or subsidies can alter the economics overnight. The CEFC’s exposure to policy shifts suggests a need for more flexible investment vehicles.

3. Workforce Challenges – Skilled labor shortages can derail operational plans. Companies that embed training and apprenticeship programs may better weather market shocks.

4. Public‑Private Partnerships – The CEFC’s willingness to provide bridge financing to TerraLink indicates a shift toward more dynamic, outcome‑based funding models.

The final chapter of Rino Recycling will depend on how effectively TerraLink can navigate these challenges. If the new venture delivers on its promises, it could serve as a blueprint for future CEFC investments in the waste‑to‑resource sector. Conversely, a repeat of the past failures could prompt a reevaluation of the CEFC’s investment criteria and the broader regulatory framework governing recycling in Australia.

Regardless of the outcome, Rino’s journey underscores the growing pains of a circular economy still finding its footing in the 21st‑century Australian market. The community, investors and regulators alike will be watching closely as the plant reopens, hoping that this time the gears of recycling will spin sustainably and profitably.