Artificial intelligence (AI) specialist Greyparrot has struck a deal with construction giant Bollegraaf in a bid to retrofit advanced capabilities to thousands of waste sites.
The agreement sees the Dutch building firm take a stake in the UK tech company in return for an investment of $12.8 million (£10.2m).
Bollegraaf will transfer its own AI business into Greyparrot, and become worldwide distributor for the London outfit’s Analyzer product.
The pair claim the deal will “transform waste management” by prompting a wave of projects to install AI technology to materials recycling facilities (MRFs) and plastics recovery facilities.
“The collaboration will bring forth revolutionary smart recycling plants that are fully automated and agile, unlocking new value in waste streams while diverting millions of tonnes of waste away from landfills, oceans and incinerators,” said the duo in a statement.
Edmund Tenfelde, chief executive of Bollegraaf Recycling Solutions, added: “We are thrilled to make this strategic investment and partner with Greyparrot to bring waste intelligence to both upcoming recycling infrastructure deployments and existing facilities worldwide.
“We believe that Bollegraaf’s comprehensive knowledge of automation of recycling MRF operations, premium equipment quality, and unique engineering expertise, empowered with Greyparrot AI systems, represents the one-of-a-kind synergy that is destined for success.”
Mikela Druckman, chief executive of Greyparrot, added: “Getting AI waste analytics in the hands of more plant managers, more quickly, will provide the industry with the data driven insights needed to build and operate smart MRFs that unlock new value from recovered materials and decrease the environmental impact of waste.
“Progress in addressing the waste crisis can only happen if we work together and commit to systemic change driven by waste intelligence.”
