Every year, $11.5 Billion dollars of recyclable products are thrown into landfills. 70% of the recoverable material is plastic and is worth over $8 Billion dollars. This has resulted in growing consumer demand for sustainable and socially responsible products, as over 50% of global consumers are willing to pay more for products from socially and environmentally responsible companies.
Now, a growing number of new suppliers with limited understanding of big-box retail operations and supply chain management are seeking technologies and processes to capitalize upon this market potential, converting plastic waste into new consumer goods to be sold in retail stores across the United States.
Ecoark along with portfolio company Pioneer Products are committed to tackling this major issue by implementing integrated technology and innovative product formulations to reduce waste.
Pioneer Products has a proven track record in closed looped product management, and was one of the first of its kind to successfully turn recyclable waste into new products for retail partners, and has continued to increase reclamation year over year.