A 30% stake in TerraCycle has been bought by Suez as part of a new partnership with the company.
TerraCycle has developed collection systems for more than 100 hard to recycle waste streams including disposable items, flexible packaging, office supplies, beauty products, oral care, used coffee capsules and cigarette butts.
It has developed this network in Belgium, Finland, France, the Netherlands, UK and Sweden and has nearly 60 million collectors. It does this through either volunteers, sponsored companies or local authorities, or through recycling services paid by companies such as “Zero Waste Boxes”.
Through this partnership, Suez is expanding its services in Europe using these innovative and voluntary networks.
Suez recycling and recovery UK chief executive David Palmer-Jones (pictured) said: “Suez’s investment in TerraCycle allows us to harness the combined skills of both companies to deliver innovative, creative and scalable solutions which tackle problematic and emerging waste streams in the UK and across Europe. Suez’s investment in TerraCycle will benefit UK customers both today and in a post Brexit future.
“The UK remains a key European market both for Suez and TerraCycle, and a market where, through innovation and collaboration such as this investment, so much more waste material discarded by business and industry could be put to better use.
“Using the knowledge of both companies, we can ensure that even the most complex and challenging waste streams are put to good use in a sustainable, long-term and economically viable way – whether its coffee pods, cigarette butts, laminated biscuit wrappers or the next, as yet unknown, generation of tricky-to-recycle products.”