Flexible plastic packaging — the crisp packets, pouches and films that wrap much of modern life — is one of the hardest materials in the world to recycle. More than 90% of it is incinerated or ends up polluting the environment, because it’s typically made of mixed materials that conventional recycling can’t separate. Greenback Recycling Technologies is building out their distributed solution, turning that waste into value. The company is working with major partners like Nestlé and the IFC (World Bank) and for the first time, retail investors are able join the opportunity as Greenback is live on Crowdcube, but for a limited time only.
Proprietary Modular Tech: From Cambridge lab to working plants
Greenback’s advanced recycling process, Enval, was originally developed at the University of Cambridge by Carlos Ludlow-Palafox, who remains the company’s technology advisor. The process converts hard-to-recycle flexible plastic into a recycled pyrolysis oil the company calls π-Oil™ — a feedstock that petrochemical companies can turn back into new, food-contact-grade plastic—, closing the loop on material that would otherwise be burned or landfilled. The process successfully completed full-scale UK pilot testing for 4 years and has now been developed into a highly replicable modular plant which can be delivered to site within 9 months of ordering.
Two plants operating, full digital traceability
Currently, the company already operates two recycling facilities — in Heanor, UK, and Cuautla, Mexico. Two very different operating environments, proving the capability and global opportunity for the technology. Greenback’s solution embeds full digital traceability in their operations using eco2Veritas technology, which was originally developed in-house, and is now an independent business in which Greenback retains a significant stake.
Every batch of recycled oil can be traced back to the waste it came from. That combination of modular technology capable of handling real-world flexible packaging waste and end-to-end traceability sets the company apart from the competition and enables Greenback to offer Producer Responsibility schemes where many of the largest global brands pay for the verified removal of packaging waste from the environment. Greenback already delivers this service to Nestle, Grupo Bimbo and ECOCE (Mexican food and beverage association with members including Mars, PepsiCo, and Mondelez).
The opportunity
Greenback is raising a total of £8m to bring their plants to full capacity and prepare to scale out, £2m of that round has already been secured from existing investors and the company is backed by the IFC and the family offices of recycling and plastics businesses.
Now, Greenback is able to offer shares to retail investors for the first time. The company is currently live on Crowdcube and is offering investors a 20% discount to the next priced round via an Advance Subscription Agreement (ASA).
The campaign is live now and closing shortly — investors interested in circular plastics and advanced recycling have only a short window left to take part. If you have any questions, you can reach the company directly at info@greenback.earth
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Disclosure: This article is for information only and does not constitute investment advice. Capital is at risk.