Ward Recycling, (not Donald Ward Ltd, which also trades as Ward Recycling), which has facilities in both South Bank and Hartlepool, has gone into liquidatin after reporting losses of more than £1m and a man died at a plant last year.
Ward Recycling secured a seven-figure funding package in 2018 to open the plant, which used wastepaper products to make high quality recycled paper.
The "one of a kind" facility takes waste paper products and turns them into high-quality recycled paper - now the plant and machinery is up for private sale along with a "significant" area of development land.
Chris Petts & Richard Oddy of Grant Thornton UK LLP were appointed as joint liquidators last month.
The Northallerton-registered company has no connection to bulk metal recycling and waste management