Pro Pel Plastech, Inc.

Pro Pel Plastech provides recycled plastic for plastics manufacturers throughout New England. Pro Pel needed a loan to install a solar panel system on the roof of its manufacturing facility. But solar projects are difficult to finance through traditional sources. MassDevelopment issued its first Green Loan to Pro Pel. We created the program to ease the way for businesses and organizations in the Commonwealth to become more energy efficient. The loan is a win-win for the environment and Pro Pel Plastech. The solar panels are expected to generate 25% of the company’s annual electricity requirements, reduce utility expenses by 25%, and create six jobs.