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STARTUP DISRUPTS RECYCLING INDUSTRY WITH BLOCKCHAIN TECHNOLOGY AND AIMS FOR 75% RECYCLING RATE BY 2030

End of Waste Foundation Inc., a startup based in California, will be launching the first Blockchain Waste Traceability Software aimed at increasing recycling rates in May. EOW’s traceability platform based on blockchain technology is providing this to ensure increased recycling rates and a reduction of CO 2/ GHG emissions. The software tracks and validates quantities of glass waste from haulers MRFs glass processors manufacturer and back to brand.

 

In addition to the launch of their platform, the company is announcing the first partner to join the End of Waste program: Momentum Recycling. Momentum currently recycles glass in Colorado and Utah, with the goal to have better recycling practices to fight climate change and move communities towards zero waste. Momentum’s presence in Colorado increased the glass recycling rate from 6% to 23% with the goal to get the rate higher than 50% with a collective effort.

 

This collective effort is embedded in End of Waste’s mission as well; the company proposes a new model, called Distributed Responsibility System. In contrast to Extended Producer Responsibility (EPR), the global community, including sustainable businesses and conscious consumers, will share the responsibility to voluntarily contribute financially towards covering negative costs in the recycling system. With the lack of transparency in the recycling industry, 67% of glass waste is currently being sent to landfills. End of Waste’s Blockchain Traceability System provides transparency to ensure shared collaboration between haulers, MRFs, processors, and manufacturers to  validate quantities recycled, confirm the activity of each partner and close the glass life cycle.

 

Each ton of recycled glass is valued at $70 and 80% of the contribution is returned to the system—$35/recycled ton is distributed back to the waste management system to cover negative costs; $20/recycled ton is distributed towards investments in technology, workforce, and R&D and $15/recycled ton is used towards platform scaling, development, and maintenance.

 

ABOUT END OF WASTE FOUNDATION : End of Waste Foundation is a Public-Service Corporation with the mission to collectively contribute to the reversal of our climate crisis by increasing recycling and investing in a circular economy that engages the world in a shared responsibility of waste management. End of Waste helps conscious organizations and consumers reach their goals and objectives of sustainability by boosting recycling through technology.

 

Source: End of Waste Foundation