Plastics Recycling Update Magazine: Major investment group puts $15 million behind PET recycling firm
Major investment group puts $15 million behind PET recycling firmBy Editorial Staff, Plastics Recycling Update August 26, 2015 Global investment company Franklin Templeton Investments is backing a Beijing-based company that produces PET bottle recycling kiosks. Plastics News reports the San Mateo, Calif.-based firm invested $15 million in Incom Renewable Resources Recovery. The company says it recovers 110 million pounds of plastic containers annually and it's the only one in China producing recycled bottle-grade PET chips. Its subsidiary, Incom Recycle Co., founded in 2008, makes kiosks that accept PET beverage containers and pay the consumer based on the material's value. The machines scan the bar code, weigh the container (returning those with too much liquid in them), crush the container and provide credits to the consumer on a card. Currently, the machines are placed in Beijing subway, bus facilities, schools, malls, office buildings and other public places. The company also recently launched an on-call, at-home recycling collection service for plastics, paper and appliances. Founded as Franklin Distributors in 1947, Franklin Templeton is a global investment firm managing assets for people and organizations in 150 countries. |
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Source: Resource Recycling
Plastics Recycling Update Magazine: Major investment group puts million behind PET recycling firm
Major investment group puts $15 million behind PET recycling firm By Editorial Staff, Plastics Recycling Update August 26, 2015 Global investment company Franklin Templeton Investments is backing a Beijing-based company that produces PET bottle recycling kiosks. Plastics News reports the San Mateo, Calif.-based firm invested $15 million in Incom Renewable Resources Recovery. The company says it recovers 110 million pounds of plastic containers annually and it's the only one in China producing recycled bottle-grade PET chips. Its subsidiary, Incom Recycle Co., founded in 2008, makes kiosks that accept PET beverage containers and pay the consumer based on the material's value. The machines scan the bar code, weigh the container (returning those with too much liquid in them), crush the container and provide credits to the consumer on a card. Currently, the machines are placed in Beijing subway, bus facilities, schools, malls, office buildings and other public places. The company also recently launched an on-call, at-home recycling collection service for plastics, paper and appliances. Founded as Franklin Distributors in 1947, Franklin Templeton is a global investment firm managing assets for people and organizations in 150 countries. To return to the Plastics Recycling Update newsletter, click here.