Ecoplastile enables access to micro-insurance and financial services for low-income populations by allowing them to pay premiums with recyclable plastic waste. The collected plastic is then recycled into affordable roofing tiles, reducing construction costs and generating revenue to cover insurance payouts and other financial services.
Funding
Funding not disclosed
Founders
Product
Problem
Low-income populations often lack access to affordable insurance and financial services. Simultaneously, plastic waste accumulates, causing environmental damage and posing health risks.
Solution
Ecoplastile addresses both challenges by enabling low-income communities to pay for micro-insurance and other financial services using recyclable plastic waste. The company collects and processes this plastic, transforming it into durable and affordable roofing tiles. By incentivizing waste collection, Ecoplastile reduces environmental pollution and provides economic opportunities for marginalized communities. The revenue generated from the sale of roofing tiles covers insurance payouts and sustains the financial services offered, creating a circular economy that benefits both people and the planet.
Target Audience
Ecoplastile serves low-income populations seeking access to micro-insurance and financial services, as well as construction companies and homeowners looking for affordable and eco-friendly roofing solutions.
Features
- Decentralized plastic collection model leveraging technology to streamline operations.
- Chemical-free recycling processes to transform hard-to-recycle plastics into low-carbon materials.
- Production of Ecotiles, which are 30% cheaper, 2x lighter, and 5x stronger than traditional roofing tiles.
- WastePays platform that rewards users with green points redeemable for cash or insurance for plastic collection efforts.
- EcoPellets, high-quality recycled plastic pellets for sustainable brands, available in various colors (black, red, blue, yellow, green, and clear).
- EcoPellets characterized by: Melt flow rate (MFR): 22.1 g/10 min at 2.16 kg weight and 230°C, Pellet Size: 3 mm being ideal for extrusion processes, Moisture content: Low (≤ 0.5%) at low moisture content for efficient processing and Bulk density: ± 570 kg/m3 thus consistent and easy to handle.