HQ: London, UK
Recycled plastics are big business.
Over 90% of plastic never gets recycled because it just isn’t profitable. Virgin plastics are dirt cheap while recovering high-quality stuff from waste is costly and complex. But change is coming. A raft of new mandates across the EU and UK is aimed at boosting the utilization of recycled plastics, starting in 2022. The challenge now is creating a ready and reliable supply of high-quality plastic recyclates.
How it Works
TrueCircle is starting with hardware-light computer vision tools that can accurately and instantly rate the quality and composition of bales of plastic. This lowers one of the key barriers to rapidly growing the recyclates market: needing to physically inspect samples before a transaction takes place. Next, they will go after the transaction itself, moving online what is still largely a pen and paper process.
Today most materials recovery facilities, or MRFs, still rely on manual, capex-intensive operations. TrueCircle’s tech is automated and cheap, enabling rapid distribution across the UK and Europe’s MRFs who are eager to upgrade recycling operations. By introducing data-backed transparency to this process, TrueCircle opens the door to dynamic pricing and measurable incentives for higher quality waste products.
Tons of CO2e
avoided per ton of plastic recycled
RISHI STOCKER CEO & CO-FOUNDER
Rishi was one of the earliest employees at UK neo-bank Revolut, where he led global partnerships. He holds a BA in Classics from Oxford.
EAMON JUBBAWY CO-FOUNDER
Eamon was previously co-founder and COO of Onfido, an AI-based identity and verification provider. He holds a BA in economics from Oxford.
TrueCircle scoops $5.5M to use AI to drive recycling efficiencyTechCrunch