This startup provides a decentralized network of modular recycling facilities that process plastic waste locally, utilizing proprietary technology to convert it into certified food-grade packaging materials. By implementing a blockchain platform for digital certification, the company establishes a new industry standard that enables businesses to minimize waste and enhance profitability.
Funding
$31.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
The current linear model of plastic production and disposal leads to significant environmental pollution and resource depletion. Traditional recycling methods often struggle with flexible plastic packaging and multi-layer laminates, resulting in low recycling rates and a reliance on virgin materials. Fraud and lack of transparency in the recycling process further undermine efforts to create a circular economy for plastics.
Solution
Greenback Recycling Technologies offers a decentralized network of modular recycling facilities that utilize advanced chemical recycling technology to process plastic waste, including flexible packaging and multi-layer laminates. Their Enval™ pyrolytic technology converts post-consumer plastic into pyrolysis oil (π-Oil™), a purified recycled raw material suitable for food-grade plastics production. To ensure transparency and prevent greenwashing, Greenback employs its eco2Veritas™ Circularity Platform, which uses AI, image recognition, and blockchain-based smart contracts to provide irrefutable proof of genuine recycling activity. This digital certification process tracks the origins of the oil, enabling businesses to confidently participate in a circular economy.
Target Audience
The primary target audience includes petrochemical companies, plastic producers, and consumer packaged goods (CPG) companies seeking sustainable sourcing options and verifiable recycling processes.
Features
- Enval™ pyrolytic technology for recycling flexible plastic packaging and multi-layer laminates
- Production of pyrolysis oil (π-Oil™), a purified recycled raw material for food-grade plastics
- eco2Veritas™ Circularity Platform for digital certification and provenance tracking using AI, image recognition, and blockchain
- Modular recycling facilities designed for local processing of plastic waste
- Technology to eradicate fraud in the recycling process