Portfolio Company Spotlight
A feature on a Closed Loop Partners investment
Eureka! The Twin Cities Are Raising the Recycling Game
Guided by the motto: “waste is preventable, not inevitable,” the recycling company services Minneapolis and St. Paul, Minnesota.
Eureka aims to create and maintain healthy communities and local economies whilst enabling a healthy planet by keeping recycled goods in market. The team continues to be thought leaders, leveraging their operational experience to influence systems change by engaging with policymakers, industry leaders, and community advocates.
Highlights
90% of recovered materials are sold to markets in the Midwest
100% of materials stay within North America
100,000 tons of recyclables sorted each year
Since the Closed Loop Infrastructure Fund providing financing to the recycling company, there has been a three-fold increase in polypropylene recovery.
With a long-term commitment to quality material, traceability in markets and education, they have continued to be resilient to changing policies. They maintain best-in-class operations, even in the wake of the National Sword. They completed facility upgrades, which include a new optical sorter and baler, which are increasing efficiencies and producing cleaner bales.
On-the-Ground Impact
Through funding from the Schmidt Marine Foundation, Eureka is continuing the application of AI technology to develop new metrics for recycling and its impacts. To connect to the growing interest in waste reduction in their home state of MN, they are investing in and expanding their ability to offer tours to community members, legislators and the packaging industry. They also hosted the fourth Zero Waste Summit, a community event focused on the supply chain of plastics.