TerraCycle Raises $25M For Loop Global Holdings TerraCycle, which serves as a Trenton, New Jersey-based manager of Loop Global Holdings LLC, has completed a Se- ries A capital raise of $25 million for its global reuse plat- form, Loop. According to the company, investors include P&G, Nestlé, SUEZ,Aptar, Sky Ocean Ventures, ImpactAssets and Quadia. Loop was founded and is managed by TerraCycle, which operates specialty recycling services in 20 countries. Loop works with consumer product companies, retailers, cities and facilities to recycle products and packages that would otherwise be incinerated, including contact lenses, beauty care products, coffee capsules, oral care products, cigarette butts and PPE. In The Loop Launched in May 2019, Loop enables consumers to shop for products in durable packaging that is used, cleaned, re- filled and used again, and then fully recyclable after 20 to 100 uses. According to the company, it enables brands to develop more valuable and distinctive products and packag- ing and provides consumers with more beautiful, function- al and “milk-man model” deposit and return packaging. To date, Loop has enlisted over 100 brands globally and offers more than 400 products. Loop is available in the continental United States, the Unit- ed Kingdom and France. By the end of 2021, Loop will also be operating in Canada, Japan andAustralia and will be avail- able in approximately 1,000 retail stores in five countries. Connecticut Waste To Energy Facility To Close Tom Kirk, President and CEO of Connecticut’s Materials Innovation and RecyclingAuthority (MIRA), announced that the state’s Hartford-based waste to energy facility will close by July 1, 2022, at the latest. The closure date is dependent, in part, on future opera- tional and maintenance costs. MIRA represents 51 municipalities in Connecticut.The or- ganization, which was created by the state in 2014, is the successor of the Connecticut Resources RecoveryAuthority (CRRA). The CRRA was created in 1973 to help the state divert material from landfill through the development of a network of resource recovery facilities. MIRA’s board took an initial vote to close the Hartford plant earlier this year and transition it to a transfer station after financing prospects and subsidies for the organization dried up.The facility has recently suffered from mechanical failures and other issues due to its age.The state rejected a $330 million proposal to upgrade the aging trash incinera- tor earlier this year. The Hartford plant incinerates between 600,000 and 720,000 tons of waste annually.With MIRA planning to shut down the Hartford facility by July 2022, the organization is still contractually obligated to manage waste for 50 of its member communities through 2027.
Buyer’s Guide
RECYCLING SYSTEMS
HARRIS 315 W. 12th Ave. • Cordele, GA 31015 (229) 273-2500 Website: www.harrisequip.com E-mail: info@harrisequip SIERRA INTERNATIONAL MACHINERY 1620 E Brundage Ln • Bakersfield CA 93307 (800) 343-8503
Website: www.sierraintl.com E-mail: info@sierraintl.com
SHERBROOKE O.E.M. LTD. 3425 Boulevard Industrial • Sherbrooke, QC J1L 2WI
(819) 563-7374 • Fax: (819) 563-7556 Website: www.sherbrooke-oem.com E-mail: mtremblay@sherbrooke-oem.com
SHREDDERS
ALLEGHENY SHREDDERS Old William Penn Hwy East • Delmont, PA 15626 (800) 245-2497 • Fax: (724) 468-5919 Website: www.alleghenyshredders.com E-mail: solutions@alleghenyshredders.com VAN DYK RECYCLING SOLUTIONS 78 Halloween Blvd. • Stamford, CT 06902 (203) 967-1100 • Fax: (203) 967-1199 Website: www.vdrs.com Email: info@vdrs.com
SORTING SYSTEMS
HUSTLER CONVEYOR CO. 4101 Crusher Dr. • O’Fallon, MO 63368 (636) 441-8600 • Fax: (636) 441-8611 Website: www.hustler-conveyor.com E-mail: info@hustler-conveyor.com VAN DYK RECYCLING SOLUTIONS 78 Halloween Blvd. • Stamford, CT 06902 (203) 967-1100 • Fax: (203) 967-1199 Website: www.vdrs.com Email: info@vdrs.com
Recycling Markets December 21, 2020 9
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