Google, Apple, Amazon, Dell Technologies and Microsoft Partner with Retrievr to Launch Recycling Pilot Program in Denver

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February 24, 2022

Leading technology companies team up with Retrievr to bring recycling straight to your door

DENVER, CO (2/22/22) – Several of the world’s leading technology brands, including Google, Apple, Amazon, Dell Technologies, and Microsoft, are working together to launch an electronics collection pilot program in Denver.  The brands selected innovative start-up Retrievr to manage the pilot. Retrievr is a doorstep collection service that specializes in recycling electronics responsibly and safely, and thanks to funding from the collaborating brands, the service will be free for all Denver residents for a limited time.

“We’re thrilled to be able to partner with some of the biggest names in tech to launch this pilot. We all agreed that we are far more likely to solve the critical environmental issue of e-waste if we work together, and the brands have really stepped up to support this mission,” said Kabira Stokes, CEO of Retrievr. “Denver has a clear need for access to convenient and secure recycling programs, and the best way to do that is to provide doorstep service to all residents. Our plan is to make electronics recycling as easy as possible for all Denverites, while also ensuring the highest standard of excellence.”

Denver is known as one of the country’s most environmentally conscious cities, but its recycling rates – including for electronic waste – trail well below the national average. Despite that trend, Colorado’s overall recycling efforts have saved almost two million metric tons of greenhouse gas emissions each year. By offering Denver residents a convenient, simplified doorstep collection service for electronics recycling, Retrievr hopes to exponentially increase rates of electronics recycling throughout the city – and help curb greenhouse gas emissions.

“Having this service launch in Denver is a great way to give our residents a new way to recycle their old electronics all while boosting our city’s diversion rate,” said Denver Mayor Michael Hancock. “Recycling is an easy but critical action we all can take to reverse the effects of climate change and lower our greenhouse gas emissions, and I encourage everyone in Denver to take advantage of this new service.”

To schedule a pick-up with Retrievr, customers simply visit Retrievr’s website, select which items they want to recycle, and schedule a date for the pickup. On that date, a truck will come to your house and take care of the rest.

Retrievr’s service offers one of the highest levels of certification for recycling electronics safely and responsibly. As an e-Stewards Enterprise, Retrievr holds the promise that every electronic device they collect will be processed through a secure chain of custody where each item is tracked until the end of its life. That certification means – among other things – that Retrievr’s data removal process complies with NIST data destruction guidelines.

Click here to learn more about Retrievr.

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Retrievr provides on-demand, doorstep collection of electronics, offering a convenient, data-secure and environmentally responsible way to recycle a personal electronic device. We combine the power of technology with the marketing reach of brands to make it easy for people to return value to their unwanted electronics, right from their door. Currently operating in the Philadelphia metro area, servicing over 1 million homes; Retrievr is thrilled to now bring our electronics collection service to Denver. Incubated in-house by Closed Loop Partners, a New York based investment firm at the forefront of the circular economy, and led by long-time electronics recycling executive, Kabira Stokes, Retrievr looks to increase residential recycling rates and create good, local jobs while doing it.

Apkudo Completes $14.4 Million Growth Round, Led by Closed Loop Partners, to Expand Smart Global Device Ecosystem

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February 08, 2022

Apkudo’s technology enables transparency across the lifecycle of electronic devices, supporting smart decision making and strengthening repair, resale & recycling markets 

FEB 8 – Apkudo, the leader in supply chain automation for connected devices, announced today that it completed a $14.4 million growth financing round led by Closed Loop Partners’ Leadership Fund, a circular economy-focused investment firm, with the participation of existing investors, including Harbert Growth Partners, Grotech Ventures, MissionOG and Lavrock Ventures. Apkudo engages, manages and optimizes the global device supply chain ecosystem to achieve efficiencies and intelligent processes, and improve margins. The company will use the funds to further its growth and advance the development of its robust connected device platform (e.g. FedEx Supply Chain Robotics).

The new investment follows the company’s rapid acceleration in the market. Over the past two years, Apkudo has tripled the number of customers on its platform. Late last year, the company expanded to serve computer and laptop brands in addition to the broader wireless mobility services industry, which includes original equipment manufacturers, managed network operators, third-party logistics companies, insurance firms, device resellers and repair companies.

The addition of Closed Loop Partners as an investor expands Apkudo’s robust expertise and continued focus on strengthening circular supply chains for high-value electronic devices. Since 2014, Closed Loop Partners has invested in circular innovations, with an existing portfolio of more than 50 investments that have collectively diverted more than 4,600 million pounds of material from landfills and back into manufacturing supply chains. Closed Loop Partners’ ecosystem connects entrepreneurs, industry experts, global consumer goods companies, retailers, financial institutions and municipalities, bridging gaps and fostering synergies to scale the circular economy.

Today, the number of mobile phones alone on the planet is more than 6 billion, and is expected to grow rapidly with increasing connectivity and consumption across the globe. Electronic devices are made of valuable resources, from the rare earth metals contained in their batteries to their individual electronic components. Yet today, less than 20% of electronics are collected, refurbished or recycled worldwide, which translates to a lost value of more than $50 billion each year. Apkudo’s technology creates greater transparency across the electronic device value chain, empowering businesses to make smart decisions regarding their devices, from early stage inventory management to repair, resale and recycling opportunities at a devices’ end-of-life.

“Apkudo has achieved impressive results in the wireless mobility industry and beyond. We’re especially excited about the traction our trade-in solution has garnered from the top-tier computer brands,” said Josh Matthews, Co-founder and CEO of Apkudo. “The circular economy is changing how consumers and businesses manage their electronic devices; the second and third life of a device is now something that every one of us needs to consider. With this investment from Closed Loop Partners and our existing investors, we have an experienced group of investors that can provide not only capital, but deep industry knowledge and global networks to help facilitate our continued growth.”

“Apkudo helps stakeholders across the electronics value chain better understand the condition and value of their devices, in turn driving smart, sustainable and profitable decision making,“ says Martin Aares, Managing Director at Closed Loop Partners. “Their technology enables vastly improved reverse logistics and resale of connected electronic devices, which helps reduce e-waste. Our partnership with Apkudo will further the circularity of electronics supply chains that ultimately benefit people, the planet and business.”

Apkudo’s Connected Device Platform connects internal systems across an enterprise with ease––unlocking powerful data from silos to enable real-time decisions. By enabling customers to connect their ecosystem partners to the Apkudo platform, Apkudo delivers improved supply chain efficiencies via a single operating system. The result is a flexible platform that reduces complex processes into collaborative business applications. Apkudo’s partnership with FedEx demonstrates how their automation and robotics system supports critical end-of-life decisions based on corporations’ unique needs.

“Apkudo is a key partner for ERI as we work collaboratively to achieve the specific circular economy and sustainability goals of our shared customers. Our partnership helps us to efficiently, securely and responsibly recover and recycle customer assets after their use,” says John Shegerian, Chairman/CEO of ERI. “This shared vision is a critical part of our ongoing commitment to zero waste practices as we help brands of all sizes build strong, resilient and circular economy supply chains.”

“We are proud to continue supporting Apkudo, as they have emerged as a leader in Industry 4.0,” remarked George Krautzel, managing partner of MissionOG. “Over the past year, their real-time inventory management and integrated robotic solutions have quickly scaled and become essential with many of the world’s largest connected device brands.”

 

About Apkudo

Apkudo is the global leader in supply chain automation with solutions spanning the entire lifecycle of connected devices. From certifying new devices for launch to optimizing liquidation of refurbished products, the Apkudo Platform provides a seamless operating system across both internal and external partner systems. Learn more at apkudo.com

 

About Closed Loop Partners

Closed Loop Partners is a New York-based investment firm comprised of venture capital, growth equity, private equity and project finance, as well as an innovation center focused on building the circular economy. Investments align capitalism with positive social and environmental impact by reducing waste and greenhouse gas emissions via materials innovation, advanced recycling technologies, supply chain optimization and landfill diversion. Learn more at closedlooppartners.com

About the Closed Loop Leadership Fund at Closed Loop Partners

The Closed Loop Leadership Fund is Closed Loop Partners’ private equity fund, focused on investing in best-in-class circular business models that are fundamental to keeping plastics and packaging, food and organics, electronics and textiles out of landfills and within a circular system. To learn about the Closed Loop Leadership Fund, visit Closed Loop Partners’ website.

About Harbert Growth Partners

Harbert Growth Partners (“HGP”) seeks to identify and invest in promising emerging growth-stage technology companies located in attractive technology ecosystems. Based in Richmond, VA, the HGP team combines substantial investment, advisory, and operating experience with capital and an extensive network to support promising entrepreneurial teams in successfully executing their growth plans. For more information, visit: https://www.harbert.net/investment-strategies/private-capital/growth-capital/

About Grotech Ventures

Founded in 1984, Grotech is a leading venture capital firm focused on early-stage, high potential technology companies based outside of Silicon Valley.  With more than $1.0 billion in committed capital, Grotech seeks innovative, early-stage investments across the software landscape and continues to invest and add value throughout the life cycle of each portfolio company. For more information, visit grotech.com

About MissionOG

MissionOG partners with high-growth businesses that have proven models in segments where we have had success as operators and investors, including financial services and payments, data platforms, and software. We apply our experience and capabilities to a group of highly skilled and passionate entrepreneurs whose businesses are on the cusp of exponential growth. Headquartered in Philadelphia, the firm is managed by operators and investors who have effectively built early to growth-stage businesses and guided them through successful acquisitions. For more information visit missionog.com

About Lavrock Ventures

Founded in 2016, Lavrock Ventures is a venture capital firm based in McLean, Virginia. The firm seeks to invest in companies operating in software, cybersecurity, big data, and national security sectors. The firm prefers to invest in companies based in Europe and North America. For more information, visit lavrockvc.com

 

SOURCE Apkudo, Inc.

PepsiCo Beverages North America Invests $35 Million to Help Close Gap In Recycling Access through investment in Closed Loop Local Recycling Fund

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January 20, 2022

PepsiCo’s investment creates an innovative community-based recycling infrastructure model that aims to reduce waste, increase circularity, and increase availability of recycled plastic to support company’s sustainable packaging goals

Image: Example of small scale materials recovery facility: Revolution Recycling at Twin, Steamboat Springs, CO

PURCHASE, N.Y., January 20, 2022 – PepsiCo Beverages North America (PBNA) announced today a $35 million investment with Closed Loop Partners that will create the “Closed Loop Local Recycling Fund,” an innovative circular economy initiative to advance new small-scale, modular recycling systems in communities across the U.S.  The fund aims to increase recycling in areas with no or limited access to recycling, reducing waste and unlocking a new supply of recycled plastic (rPET), among other valuable materials, to support PepsiCo’s pep+ (PepsiCo Positive) sustainable packaging goals.

“As companies – including PepsiCo – set ambitious goals to use more recycled content in their packaging, there is more need than ever for partnerships and investments to increase recycling in the U.S. We need to develop the infrastructure that makes recycling available to more Americans so we can recover the high-quality material that can be used in our packaging,” said Jason Blake, Chief Sustainability Officer and SVP at PepsiCo Beverages North America. “Through pep+, our end-to-end strategic transformation, sustainability is at the heart of everything we do. As the exclusive investor in the Closed Loop Local Recycling Fund, we are actively driving the changes needed to transform the US recycling system and move towards a circular economy.”

Closed Loop Partners will use the investment to deploy small-scale modular Materials Recovery Facilities (MRFs) in underserved communities that currently lack access to larger municipal MRFs. This gap in access is typically due to a lack of funding or geographic proximity to facilities that process the materials. The smaller, local MRFs lay the groundwork for the future of recycling, introducing a new way to meet and adapt to the various needs of communities across the U.S. These modular recycling systems are smaller and less capital intensive than traditional large-scale recycling facilities, reducing the need for the costly transportation of recycled materials to larger MRFs outside of the area. The small-scale MRFs will help recapture valuable recyclables––paper, plastic, glass, and metals––reducing waste sent to landfill and unlocking a new supply of recycled materials. Each individual system creates the capacity to recycle at least 8,000 tons per year of materials, including keeping 400 tons of rPET in circulation every year. They are also expected to yield higher quality plastic while also reducing the costs and greenhouse gas emissions  associated with the longer distance transportation of the materials.

This investment reinforces PepsiCo’s desire to create a world where packaging never becomes waste and to increase recycling rates in the United States. It aims to support PepsiCo’s goal to cut virgin plastic from non-renewable sources across our food and beverage portfolios by 50% by 2030.

“This first-of-a-kind investment from PepsiCo ushers in a new future for local recycling, empowering communities across rural America and small cities to reduce waste and harness the value of their recycled commodities,” says Ron Gonen, Founder & CEO of Closed Loop Partners. “By closing the loop on these commodities, which can then re-enter local manufacturing supply chains, we are better equipping communities with the tools needed for resilience against a globally changing climate, while also creating new revenue opportunities and jobs. We look forward to continuing our long-standing partnership with PepsiCo to build and strengthen circular supply chains.”

This announcement comes on the heels of a $15 million PBNA investment in Closed Loop Partners’ Leadership Fund, a private equity fund that seeks to acquire and grow companies, including those in the packaging value chain, to strengthen recycling infrastructure and build circular supply chains that keep materials out of landfills. These investments are part of a long history of PepsiCo partnering with Closed Loop Partners to make strides on material recovery and infrastructure advancements:

  • In 2021, PepsiCo became a founding partner of Closed Loop Partners’ Composting Consortium, managed by their Center for the Circular Economy. The Consortium brings together leading voices in the composting ecosystem in the United States to identify the best path forward and pilot industry-wide solutions to increase the recovery of compostable food packaging and drive toward circular outcomes.
  • In 2014, PepsiCo became a founding member of the Closed Loop Infrastructure Fund, which has provided investments that cities, counties, and businesses in the U.S. use to take the steps necessary to move recycling to the next level, including new trucks for pick-up/hauling and cutting-edge technology to make materials recovery facilities work more efficiently.
  • Through American Beverage’s Every Bottle Back Initiative, PepsiCo is an investor in Closed Loop Partners’ Beverage Fund, which seeks to improve the collection of the industry’s valuable plastic bottles so they can be made into new bottles using rPET. This fund partners with other beverage companies, as well as nonprofits and NGOs like The Recycling Partnership and WWF to reduce their plastic footprints, improve recycling access, provide education to residents, and modernize recycling infrastructure in communities across the country.

 

As the Closed Loop Local Recycling Fund begins investing in community recycling, municipalities across the U.S., as well as local haulers, can reach out to Closed Loop Partners if they are interested in exploring a small-scale, modular MRF in their community.

About PepsiCo

PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $70 billion in net revenue in 2020, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker, Tropicana, and SodaStream. PepsiCo’s product portfolio includes a wide range of enjoyable foods and beverages, including 23 brands that generate more than $1 billion each in estimated annual retail sales.

Guiding PepsiCo is our vision to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose. “Winning with Purpose” reflects our ambition to win sustainably in the marketplace and embed purpose into all aspects of our business strategy and brands. For more information, visit pepsico.com.

About the Closed Loop Local Recycling Fund at Closed Loop Partners

The Closed Loop Local Recycling Fund is a circular economy initiative managed by Closed Loop Partners and funded by PepsiCo, aiming to finance and deploy small-scale, modular Materials Recovery Facilities (MRFs) to increase recycling in communities with no or limited access to recycling, reduce waste and unlock a new supply of recycled plastic. Closed Loop Partners is a New York-based investment firm comprised of venture capital, growth equity, private equity, project-based finance and an innovation center focused on building the circular economy. The firm’s business verticals build upon one another, bridging gaps and fostering synergies to scale the circular economy.

To learn about the Closed Loop Local Recycling Fund, visit Closed Loop Partners’ website.

PepsiCo Cautionary Statement

This release contains statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as “aim,” “anticipate,” “believe,” “drive,” “estimate,” “expect,” “goal,” “intend,” “may,” “plan,” “project,” “strategy,” “target” and “will” or similar statements or variations of such terms and other similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from those predicted in such statements, including future demand for PepsiCo’s products; damage to PepsiCo’s reputation or brand image; political or social conditions in the markets where PepsiCo’s products are made, manufactured, distributed or sold; climate change or measures to address climate change; changes in laws and regulations related to the use or disposal of plastics or other packaging of PepsiCo’s products; failure to comply with applicable laws and regulations; and potential liabilities and costs from litigation, claims, legal or regulatory proceedings, inquiries or investigations. For additional information on these and other factors that could cause PepsiCo’s actual results to materially differ from those set forth herein, please see PepsiCo’s filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. PepsiCo undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Disclaimer:

This publication is for informational purposes only, and nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy any interest in any investment vehicle managed by Closed Loop Capital Management or any company in which Closed Loop Capital Management or its affiliates have invested. An offer or solicitation will be made only through a final private placement memorandum, subscription agreement and other related documents with respect to a particular investment opportunity and will be subject to the terms and conditions contained in such documents, including the qualifications necessary to become an investor. Closed Loop Capital Management does not utilize its website to provide investment or other advice, and nothing contained herein constitutes a comprehensive or complete statement of the matters discussed or the law relating thereto. Information provided reflects Closed Loop Capital Management’s views as of a particular time and are subject to change without notice. You should obtain relevant and specific professional advice before making any investment decision. Certain information on this Website may contain forward-looking statements, which are subject to risks and uncertainties and speak only as of the date on which they are made. The words “believe”, “expect”, “anticipate”, “optimistic”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. Closed Loop Capital Management undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Past performance is not indicative of future results; no representation is being made that any investment or transaction will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided.

PepsiCo Beverages North America Announces $15 Million Investment in Closed Loop Partners’ Leadership Fund

By

December 14, 2021

New investment will help upgrade recycling infrastructure in the United States to increase access to recovered packaging materials

[Press release originally published here] PURCHASE, N.Y., December 14, 2021 – PepsiCo Beverages North America announced today a $15 million investment in Closed Loop Partners’ Leadership Fund, a private equity fund that acquires and grows companies, including in the packaging value chain, to strengthen recycling infrastructure and build circular supply chains that keep materials out of landfills.

“The recycling landscape in America continues to be challenging, and as companies – including PepsiCo – set ambitious goals to use more recycled content in their packaging, there is more need than ever for partnerships and action to increase access to recycled material,” said Jason Blake, Chief Sustainability Officer and SVP at PepsiCo Beverages North America. “Through PepsiCo Positive, our end-to-end strategic transformation agenda, sustainability is at the heart of everything we do. We are honored to expand our partnership with Closed Loop Partners through this investment to advocate for and advance the necessary work that is being done to transform the recycling system.”

“Demand for recycled materials in packaging is growing at an unprecedented rate, signaling an opportunity for greater investment in the recycling infrastructure that keeps these commodities in play. At Closed Loop Partners, we are committed to strengthening the circular systems that make this possible,” says Ron Gonen, Founder & CEO of Closed Loop Partners. “PepsiCo’s investment in the Closed Loop Leadership Fund builds on its existing partnership with our firm, setting a clear path forward for the food and beverage industry to advance circular supply chains for packaging. We look forward to continuing our long-standing partnership with PepsiCo and the beverage industry in building a more waste-free world.”

This investment reinforces PepsiCo’s desire to create a world where packaging never becomes waste and the company’s plans to increase recycling rates in the United States, while simultaneously unlocking access to incremental recycled plastic supply. It aims to help propel progress against PepsiCo’s target to cut virgin plastic from non-renewable sources across our food and beverage portfolios by 50% by 2030. In the U.S., all Pepsi-branded products are expected to be converted to 100% rPET bottles by 2030, with Pepsi Zero Sugar beginning to be sold in 100% rPET bottles by 2022. As shared in the 2020 Sustainability Report, PepsiCo reported that 87% of its packaging is recyclable, compostable, or biodegradable and this investment with Closed Loop Partners’ Leadership Fund will only help to drive even more collection of these valuable materials for use in our packaging.

PepsiCo has a long history of partnering with Closed Loop Partners to make strides on material recovery and infrastructure advancements:

  • In 2014, PepsiCo became a founding member of the Closed Loop Fund, now known as the Closed Loop Infrastructure Fund, which has provided investments that cities, counties, and businesses in the U.S. use to take the steps necessary to move recycling to the next level, including new trucks for pick-up/hauling and cutting-edge technology to make materials recovery facilities work more efficiently.
  • Through American Beverage’s Every Bottle Back Initiative, PepsiCo is an investor in the Closed Loop Partners’ Beverage Fund, which seeks to improve the collection of the industry’s valuable plastic bottles so they can be made into new bottles using rPET. This fund partners with other beverage companies, as well as nonprofits and NGOs like The Recycling Partnership and World Wildlife Fund to reduce their plastic footprints, improve recycling access, provide education to residents, and modernize recycling infrastructure in communities across the country.
  • In 2021, PepsiCo became a founding partner of Closed Loop Partners’ Composting Consortium, which brings together leading voices in the composting ecosystem in the United States to identify the best path forward to increase the recovery of compostable food packaging and drive toward circular outcomes.

About PepsiCo

PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $70 billion in net revenue in 2020, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker, Tropicana, and SodaStream. PepsiCo’s product portfolio includes a wide range of enjoyable foods and beverages, including 23 brands that generate more than $1 billion each in estimated annual retail sales.

Guiding PepsiCo is our vision to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose. “Winning with Purpose” reflects our ambition to win sustainably in the marketplace and embed purpose into all aspects of our business strategy and brands. For more information, visit pepsico.com.

About the Closed Loop Leadership Fund at Closed Loop Partners
The Closed Loop Leadership Fund is Closed Loop Partners’ private equity fund, focused on acquiring best-in-class circular business models that are fundamental to keeping plastics and packaging, food and organics, electronics and textiles out of landfills and within a circular system. Closed Loop Partners is a New York-based investment firm comprised of venture capital, growth equity, private equity, project-based finance and an innovation center focused on building the circular economy. The firm’s business verticals build upon one another, bridging gaps and fostering synergies to scale the circular economy.

To learn about the Closed Loop Leadership Fund, visit Closed Loop Partners’ website.

PepsiCo Cautionary Statement

This release contains statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as “aim,” “anticipate,” “believe,” “drive,” “estimate,” “expect,” “goal,” “intend,” “may,” “plan,” “project,” “strategy,” “target” and “will” or similar statements or variations of such terms and other similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from those predicted in such statements, including future demand for PepsiCo’s products; damage to PepsiCo’s reputation or brand image; political or social conditions in the markets where PepsiCo’s products are made, manufactured, distributed or sold; climate change or measures to address climate change; changes in laws and regulations related to the use or disposal of

plastics or other packaging of PepsiCo’s products; failure to comply with applicable laws and

regulations; and potential liabilities and costs from litigation, claims, legal or regulatory proceedings, inquiries or investigations. For additional information on these and other factors that could cause PepsiCo’s actual results to materially differ from those set forth herein, please see PepsiCo’s filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. PepsiCo undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

 

Closed Loop Partners’ Venture Capital Group Raises $50+ Million Fund II to Scale Breakthrough Circular Economy Solutions

By Closed Loop Partners

December 13, 2021

Fund II surpasses fundraising targets & extends Closed Loop Partners’ first venture fund strategy across sectors to build circular supply chains

NEW YORK, Dec. 13, 2021 — Closed Loop Partners’ venture capital group––the Closed Loop Ventures Group––announced the successful close of its second fund, surpassing its $50 million target to scale breakthrough circular economy solutions across plastics & packaging, fashion, food & agriculture, and supply chain technology. The firm continues its pioneering position as a dedicated circular economy-focused capital provider, investing in sustainable and profitable solutions that reduce waste, increase operational and material efficiency, and protect the planet.

Closed Loop Partners’ second venture capital fund, Closed Loop Venture Fund II, is driven by the success of its Fund I. The strategy of both funds capitalizes on the growing need to shift away from inefficient, linear and extractive supply chains and toward healthier, waste-free circular systems. The Closed Loop Venture Fund II is strategically positioned within the firm’s broader ecosystem that includes growth equity, private equity and project-based finance, as well as the Center for the Circular Economy. The Ventures Group benefits from a broad range of investors including multinational corporations like Microsoft and GS Group, foundations like the Autodesk Foundation, and single and multi-family offices from across the United States, Asia and Israel.

“At Microsoft, we’re advancing a more sustainable and resilient way of producing and consuming products and services. The breakthrough solutions that the Closed Loop Ventures Group invests in help pave the way toward a more circular future, one that aligns with our vision of a zero waste world,” says Brandon Middaugh of Microsoft’s Climate Innovation Fund, an investor in Closed Loop Partners’ funds. “Our investment in the Ventures Group’s Fund II is a key part of our efforts toward our 2030 zero waste goals, driven by the innovators and emerging companies that help make this possible.”

“Venture capital plays a key role in accelerating the circular economy, seeding the next generation of solutions to overcome legacy take-make-waste systems, encourage innovation and help transformative companies scale,” says Taehong Huh, Managing Director of GS Futures, corporate venture arm of GS Group of Korea. “The Closed Loop Ventures Group is blazing a trail for some of the most innovative circular solutions in the market today, and we are proud to be investors in the Closed Loop Venture Fund II––supporting companies that advance the circular shift of our economic system.”

“The need for solutions that advance the circular economy is coming into focus, and investment is key to scaling their impact. Closed Loop Partners’ venture capital team continues to be at the forefront of this work, supporting founders and businesses that are transforming our systems and supply chains for the better,” says Jennifer Kenning, CEO and Co-founder of Align Impact. “Our partnership with the Closed Loop Ventures Group is mission-critical to our work, advancing investments that have massive positive outcomes for people and our planet.”

“Our support of Closed Loop Partners’ venture funds has been a key part of our work to transition our markets to a full circular economy model by investing in the technologies and solutions that overcome barriers to change,” says Joe Speicher, Executive Director of the Autodesk Foundation and Head of Sustainability at Autodesk. As the philanthropic arm of Autodesk Inc., the Autodesk Foundation was an investor in Closed Loop Partners’ first and second venture funds. “We are proud to have been an early investor of the Closed Loop Ventures Group and are doubling down on our commitment to help scale the emerging design and manufacturing approaches that make end to end circularity possible.”

Led by Danielle Joseph, Managing Director at Closed Loop Partners, Closed Loop Ventures Group demonstrates that builder capital with a hands-on, active approach to building the Circular Economy is what many of the most ambitious entrepreneurs are seeking. The dedicated team brings a combined skill set of entrepreneurial, operating and investing expertise. “Closed Loop Ventures Group enables Closed Loop Partners to activate the most innovative solutions emerging in the circular economy and provide those solutions the full support of the Closed Loop Partners network,” says Ron Gonen, Founder and CEO of Closed Loop Partners.

“The Closed Loop Partners team is unique in the venture capital space, proactively bringing to the table their extensive operating experience, network, and strategic expertise on the circular economy,” says Rich Mokuolu, Co-founder & CEO of Partsimony. “We are proud to be among the first portfolio companies of Closed Loop Venture Fund II and we look forward to the continued growth spurred by their investment, as we expand Partsimony’s reach to build more intelligent, resilient, and local supply chains.”

To date, the Closed Loop Venture Fund II has invested in solutions including Partsimony, ucrop.it and dimpora––investments that span supply chain technology, food & agriculture and fashion. Partsimony‘s SaaS network unifies disparate data to help product designers manufacture more locally and with more sustainable materials. ucrop.it operates a collaborative traceability platform that connects farmers to stakeholders across the agriculture value chain, incentivizing supply chain transparency, best agricultural practices and greater value sharing to advance sustainable agriculture on a global scale. dimpora develops sustainable and PFC-free non-harmful membranes to waterproof clothing, to reduce waste and chemicals from apparel production.

“The successful raise of Closed Loop Partners’ second venture fund signals the increasing understanding that circular supply chains represent the future of industry and materials. We are seeing more founders building businesses in the circular economy, and a growing need for early-stage capital,” says Danielle Joseph, Managing Director of the Closed Loop Ventures Group at Closed Loop Partners. “We look forward to collaborating with the broader venture capital community, fostering transparency and open insight sharing to advance breakthrough innovations.”

Across its investments, the Closed Loop Ventures Group sees transparency and digitization as critical tools in building the supply chains of the future, and will continue to support cutting-edge innovations that reimagine and redesign current systems, driven by data and scientific input. They are focused on furthering localized and distributed manufacturing to build resiliency, and accelerating recovery & reuse to reduce a reliance on volatile commodity prices tied to limited virgin resources. Building on its robust thought leadership, the venture capital team at Closed Loop Partners continues to develop its theses on where they want to see additional investment activity and other smart investors participating in the space, including around markets that are misunderstood in traditional venture capital investing––such as biopolymers as plastic alternatives and evolving molecular recycling technologies.

About the Closed Loop Ventures Group at Closed Loop Partners
Closed Loop Partners’ venture capital arm launched in 2017 with one of the first venture funds dedicated solely to investing in early-stage companies developing breakthrough solutions for the circular economy. The Closed Loop Ventures Group targets leading innovations in material science, robotics, agritech, sustainable consumer products and advanced technologies that further the circular economy.

The Closed Loop Venture Fund II builds on the venture capital group’s first fund’s strategy, supported by an existing portfolio with strong financial performance, coupled with robust environmental and social impact. HomeBiogas, one of the early investments of the Closed Loop Venture Fund I is a leader in developing biogas systems that transform organic waste into clean energy and bio-fertilizer. They announced their $94 million initial public offering (IPO) in Israel in 2021, accelerating the company’s growth into additional markets, including North America. To date, the company has sold over 10,000 systems in more than 100 countries. Algramo, another investment of Fund I, developed a reuse system powered by vending machines that dispense household products into smart reusable packaging. With the investment and support of Closed Loop Partners, the Chile-based company expanded into North America, now piloting their reuse systems in New York City, while also having piloted with leading brands such as Walmart and Unilever in other geographies. Learn more about the Closed Loop Ventures Group here.

About Closed Loop Partners
Closed Loop Partners is a New York-based investment firm comprised of venture capital, growth equity, private equity, project-based finance, and an innovation center focused on building the circular economy. Investors include many of the world’s largest consumer goods companies and family offices interested in investments that provide strong financial returns and tangible impact. Learn more at www.closedlooppartners.com.

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Closed Loop Partners Releases First-of-its-Kind Report Evaluating the Role of Molecular Recycling Technologies in Addressing Plastic Waste

By Closed Loop Partners

November 17, 2021

New report examines economic, environmental and human health impacts of diverse recycling technologies, assessing where they fit in a circular plastics economy 

Read the full report

November 17, New York – Today, Closed Loop Partners’ Center for the Circular Economy released its latest report, Transitioning to a Circular System for Plastics: Assessing Molecular Recycling Technologies in the United States and Canada. This research fits into the firm’s broader Advancing Circular Systems for Plastics & Packaging Initiative, which tackles plastic waste through innovation and investment; prioritizing design innovation and reuse models to reduce the overall volume of plastics produced, while also strengthening recycling infrastructure to recover existing plastics after use. This new report focuses specifically on one part of the recycling system: “molecular” or “advanced” recycling technologies. It examines their potential role in a circular and safe future for plastics, and the policy, market, and environmental and human health impact conditions needed to achieve this optimal future state.  

The sheer diversity and volume of plastics in our system today, from textiles to packaging to electronics, means that no single sector, technology or approach can solve the plastics waste challenge entirely or quickly enough. Plastics production is set to triple by 2050; to move the needle on the 9% of plastics currently recycled globally, a suite of solutions must be deployed, first emphasizing reduction and reuse, and also acknowledging the role of recycling in keeping valuable plastics in play for longer and reducing the need for fossil fuel extraction. 

Molecular recycling, also commonly referred to as advanced recycling or chemical recycling, refers to a diverse sector, which encompasses dozens of technologies that use solvents, heat, enzymes, and even sound waves to purify or transform plastics at the molecular level. While these technologies require more energy than traditional mechanical recycling, they can process a wider range of plastic waste into like-new materials. Their various outputs can be looped back into manufacturing supply chains without compromising quality or being downcycled.

Collectively, molecular recycling technologies have the potential to expand the scope of plastics we can recycle, help preserve the value of resources in our economy, and help meet the demand for high-quality, recycled plastics, even food grade plastic. However, to date, there is a scarcity of comparative analysis among the different technologies and a lack of systems-level analysis of their potential financial, environmental, and human health opportunities and risks. 

In Assessing Molecular Recycling Technologies in the United States and Canada, Closed Loop Partners goes deeper into many of the unanswered questions regarding these technologies, committing to support data-backed decision-making in this early-stage sector. Together with its technical partner Anthesis Group, Closed Loop Partners worked with nine companies – APK AG, PureCycle Technologies, Carbios, GreenMantra, JEPLAN, gr3n, Brightmark, Plastic Energy, and Enerkem – across the sector’s three molecular recycling technology categories: purification, depolymerization and conversion. The report shares insights drawn from the evaluation of the nine datasets, with the goal of educating investors, brands, retailers, policymakers and nonprofit organizations that seek actionable information on the sector. 

“To close the loop on plastic waste we will need to deploy multiple strategies and harness innovation in reduction and reuse alongside a diversity of recycling technologies. It’s imperative that we recover all kinds of plastic, including and beyond single-use plastic packaging. Two-thirds of plastics used in the U.S. today are for applications like wind turbines, textiles, car parts and healthcare devices––which are viable feedstock for different advanced recycling technologies,” says Kate Daly, Managing Director of the Center for the Circular Economy at Closed Loop Partners. “This report should serve as a guide to investors, policymakers, and anyone who cares about the plastic waste crisis and would like to explore what must be true in order for new and established technologies to play a safe and viable role in a circular system for plastics, without creating unintended consequences.” 

The report includes 10 key takeaways and calls to action for stakeholders to advance safe and circular solutions to address the urgent plastic waste crisis. Key insights from the report include: 

  • Overall, the average carbon emissions from producing plastic through all three molecular recycling technology categories showed an improvement compared to corresponding virgin plastics systems, with environmental impacts varying within and across the technology categories
  • A greener grid will play a critical role in decreasing the environmental impact of these technologies and renewable energy inputs should be integral to any commercialization strategy of technologies looking to link to the circular plastics economy 
  • Molecular recycling technologies can complement existing mechanical recycling infrastructure by processing plastic waste that mechanical recyclers would otherwise have to pay to discard; integrating a mix of all three molecular recycling technologies into the broader recycling system in the United States and Canada could double the amount of plastic packaging recycled, compared to 2019 recycling rates, and generate up to $970 million dollars (USD) annually for the existing recycling system
  • Policymakers, investors, and businesses, among other key stakeholders, will determine the degree of environmental, human health, and financial success of this sector; they are responsible for ensuring that the most circular solutions are scaled, incentives are established to support circular outcomes, and policies and regulations maintain and protect human health, worker safety, and climate change mitigation  

 

This report includes over 100 questions to supplement an investor’s due diligence of molecular recycling technologies, as well as links to nine case studies that outline best-practices in the market today. To download Closed Loop Partners’ latest report and sign up for educational webinars on the topic, please visit the Closed Loop Partners website here

 

About Closed Loop Partners

Closed Loop Partners is a New York-based investment firm comprised of venture capital, growth equity, private equity and project finance, as well as an innovation center focused on building the circular economy. The firm has built an ecosystem that connects entrepreneurs, industry experts, global consumer goods companies, retailers, financial institutions and municipalities. Investments align capitalism with positive social and environmental impact by reducing waste and greenhouse gas emissions via materials innovation, advanced recycling technologies, supply chain optimization and landfill diversion. Learn more here

About Advancing Circular Systems for Plastics and Packaging Initiative

At Closed Loop Partners, we envision a waste-free future for plastics. We launched our Advancing Circular System for Plastics and Packaging Initiative understanding that there is no silver bullet solution to solve complex global waste challenges. Ending plastics waste will require a combination of approaches such as design innovation, reuse and molecular recycling to accelerate the transition to a circular economy for plastics. Learn more about our investments, collaboration and research here.

This report, Transitioning to a Circular System for Plastics: Assessing Molecular Recycling Technologies in the United States and Canada, focuses on one part of a circular plastics system: molecular recycling technologies. Our Center for the Circular Economy created this report with the support of nine molecular recycling technology companies, more than 75 peer reviewers and advisors, NGO partners and contributing partners Target Corporation, Bank of America Foundation, Colgate-Palmolive Company, the American Chemistry Council, 3M & Sealed Air Corporation. 

Closed Loop Partners Collaborates with PepsiCo, the NextGen Consortium & Other Leading Brands to Advance Composting Infrastructure & Recover Compostable Packaging and Food Scraps

By Closed Loop Partners

November 09, 2021

The new Composting Consortium aims to pilot industry-wide solutions and build a roadmap for investment in technologies and infrastructure to address the growth in production of compostable food packaging

 

NEW YORK, Nov. 9, 2021 — Today, the Center for the Circular Economy at Closed Loop Partners announced the launch of the Composting Consortium, together with Founding Partners PepsiCo and the NextGen Consortium. PepsiCo and the NextGen Consortium, which is composed of Starbucks, McDonald’s and other foodservice brands, are joined by Supporting Partners Colgate-Palmolive, The Kraft Heinz Company, Mars, Incorporated, and Target Corporation, as well as Industry Partners the Biodegradable Products Institute and the U.S. Plastics Pact. The Consortium brings together leading voices in the composting ecosystem in the United States to identify the best path forward to increase the recovery of compostable food packaging and drive toward circular outcomes.

These key stakeholders are uniting at a critical time as the landscape around compostable packaging and composting infrastructure rapidly evolves. Currently, the demand for alternatives to traditional fossil fuel-based single-use plastic packaging is rising, and the market for compostable packaging is poised to grow 17% annually between 2020 and 20271. Compostable packaging presents potential environmental, economic and social benefits, diverting food packaging and food scraps within the packaging toward composting infrastructure, and mitigating the greenhouse gases emitted when these otherwise end up in landfill. To meet the growth in compostable packaging, there needs to be more widely available composting infrastructure to fully recover the value of these materials.

The Composting Consortium recognizes the current challenges in this growing packaging sector and calls for unity and clarity across stakeholders. New compostable materials need to be researched with diligence and deployed strategically as one line of defense against waste. There is no quick fix to a complex global waste challenge, and the Consortium looks to chart a clear pathway forward for the industry.

The Consortium will work across multiple workstreams to identify best practices for consumer understanding of compostable packaging labeling and collection; establish when compostable versus reusable or recyclable packaging applications are most appropriate; collaborate on best practices to inform policy making; and build an investment roadmap for expanding composting infrastructure to recover compostable packaging and food scraps. It brings together leading voices in the composting ecosystem in the United States to increase the recovery of valuable resources otherwise lost to landfill. Consortium Advisory Partners include Compost Manufacturing Alliance (CMA), Foodservice Packaging Institute (FPI), Google, ReFED, the Sustainable Packaging Coalition (SPC), TIPA Corp Ltd., University College London and World Wildlife Fund (WWF).

“With current market forces and environmental challenges driving the growth of compostable packaging, there has never been a more critical time to collectively advance labeling, testing and infrastructure investments related to the recovery of compostable food packaging and food scraps,” says Kate Daly, Managing Director of the Center for the Circular Economy at Closed Loop Partners. “We’re excited to work together with leading brands and retailers, including PepsiCo and the partners of the NextGen Consortium, as well as the entire composting value chain––from global brands to composters and packaging manufacturers––to accelerate much-needed solutions.”

“Knowing how important packaging is––to protect the safety, quality and freshness of our products, extend their shelf life and limit food waste––we understand how critical it is to advance holistic solutions that prevent packaging from becoming waste. Building on our initiatives to improve the circularity of compostable packaging, we are thrilled to work toward this goal as a Founding Partner of the Composting Consortium,” says Burgess Davis, VP Global Sustainable Packaging and Sustainability Strategy at PepsiCo. “This unprecedented collaboration with the NextGen Consortium and leading foodservice and consumer goods brands can forge a clear path forward for compostable packaging, strengthening it as a viable alternative to plastics and preventing it from going to waste.”

“There is increasing awareness of the climate risks posed by food scraps being wasted in landfills, alongside the challenges of waste from packaging that is not getting recycled. This is driving broad support for a change to the status quo, including a desire for widespread access to composting and innovative compostable packaging that can be composted with the food,” noted Rhodes Yepsen, Executive Director of the Biodegradable Products Institute. “Collaboration amongst diverse stakeholders is critical, which the Composting Consortium brings together so we can make quick progress.”

About the Composting Consortium
The Composting Consortium is a multi-year collaboration across the entire value chain to pilot industry-wide solutions and build a roadmap for investment in technologies and infrastructure that enable the recovery of compostable food packaging and food scraps. The Composting Consortium is managed by Closed Loop Partners’ Center for the Circular Economy. PepsiCo and the NextGen Consortium are founding partners of the Consortium. Hill’s Pet Nutrition parent company Colgate-Palmolive, The Kraft Heinz Company, Mars, Incorporated, and Target Corporation joined as supporting partners, and the Biodegradable Products Institute and the U.S. Plastics Pact joined as industry partners. Our advisory partners include Compost Manufacturing Alliance (CMA), Foodservice Packaging Institute (FPI), Google, ReFED, the Sustainable Packaging Coalition (SPC), TIPA Corp Ltd., University College London and World Wildlife Fund (WWF). Learn more about the Consortium here.

About the Center for the Circular Economy at Closed Loop Partners
Closed Loop Partners is a New York-based investment firm comprised of venture capital, growth equity, private equity, project-based finance and an innovation center. In 2018, Closed Loop Partners launched its innovation center, the Center for the Circular Economy, which unites competitors to tackle complex material challenges and to implement systemic change that advances the circular economy. Closed Loop Partners brings together designers, manufacturers, recovery systems operators, trade organizations, municipalities, policymakers and NGOs to create, invest in, and support scalable innovations that target big system problems. Learn more about the Center’s work here.

About PepsiCo
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $70 billion in net revenue in 2020, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker, Tropicana and SodaStream. PepsiCo’s product portfolio includes a wide range of enjoyable foods and beverages, including 23 brands that generate more than $1 billion each in estimated annual retail sales. Guiding PepsiCo is our vision to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose. “Winning with Purpose” reflects our ambition to win sustainably in the marketplace and embed purpose into all aspects of our business strategy and brands. PepsiCo recently introduced pep+ (pep Positive), a strategic end-to-end transformation with sustainability at the center of how the company will create growth and value by operating within planetary boundaries and inspiring positive change for the planet and people. For more information, visit www.pepsico.com.

About the NextGen Consortium
The NextGen Consortium is a multi-year consortium that addresses single-use food packaging waste globally by advancing the design, commercialization and recovery of food packaging alternatives. The NextGen Consortium is managed by Closed Loop Partners’ Center for the Circular Economy. Starbucks and McDonald’s are the founding partners of the Consortium, with The Coca-Cola Company joining as a sector lead partner. JDE Peet’s, Wendy’s and Yum! Brands are supporting partners. The World Wildlife Fund (WWF) is the environmental advisory partner. Learn more at www.nextgenconsortium.com.

Partsimony Closes $2M Seed Round to Help Organizations Build Intelligent Manufacturing Supply Chains

By

October 28, 2021

Closed Loop Partners, a circular economy-focused investment firm, leads the round

New York, NY – 8:00 AM EST, October 28, 2021 – Partsimony is pleased to announce the successful close of a $2M Seed round, led by Closed Loop Partners’ Ventures Group with participation from Contour Ventures, Urban Us, and other top institutional and angel investors. Partsimony is a SaaS network that unifies disparate data from multiple sources to more efficiently manage hardware from prototype through production, bringing superior intelligence to manufacturing supply chains.

Today, hardware companies are dealing with a paradigm shift happening in manufacturing supply chains, witnessing:

  • Increases in Commodity Volatility. Volatile raw material costs impact the availability of basic component parts. Banks expect commodity prices to rise ~10% in the next year with Copper up 90%+ from 2020 (Bloomberg). The uncertainty of component availability impacts engineering designs, production schedules and costs. 
  • Increases in Frequency and Severity of Supply Chain Risks. Unknowns are the new norm. 94% of Fortune 1,000 companies are still seeing residual supply chain disruptions from COVID-19 (Accenture). Supply chain disruptions are becoming more frequent with increasing climate-related disasters, too. 
  • Growing Geopolitical Disruptions. Product costs are driven up by external factors (i.e. reshoring, trade wars, taxes/customs duties, etc.), with additional scope 3 emissions requirements underway.

Executives in the industry recognize that “We’ve been so optimized the last 3 decades on low cost supply that we’ve lost track of resilient supply” (Axios). In this new paradigm, supply chain resilience and speed in decision-making will be an immense competitive advantage for hardware companies. Partsimony is building a cognitive manufacturing supply chain that leverages transactional data to provide deep insights around Manufacturer Discovery, Design Intent, and Supply Chain Resilience.

Similar to a “SaaS hive mind,” Partsimony is building proprietary machine learning models that provide tailored recommendations for both hardware companies and manufacturers, based on their given component design files and manufacturer networks. This enables Partsimony to provide hardware companies with an intelligent manufacturing supply chain infrastructure that is more quickly adaptable to disruptions. 

Partsimony has already been tested and adopted by startups and large enterprises alike. Partsimony uniquely works with a hardware company from initial prototypes up through full-scale production. Case studies from closed beta tests show that the results achieved with Partsimony have saved over 96% in cost reductions and months in lead time.

“Sourcing the right parts on complex hardware products is difficult and has never been more important in this global chaotic and disrupted supply chain. Partsimony’s strong value proposition solves difficult and complex requirements by connecting designers and innovators with manufacturers in a collaboration process that creates intended design outcomes in a cost effective, high quality, and repeatable manner.”

— Marty Guay, Vice President of Business Development, STANLEY BLACK & DECKER

“Partsimony is critical for our business; the platform allows us to spend more time focusing on design improvements than on searching and communicating back and forth with prospective manufacturers.”

— Sam Miller, Founder & CEO, PROTEUS MOTION

The Seed funding will help Partsimony capitalize on this unique moment in global supply chain development and enable manufacturing supply chains to be more resilient.

“We are thrilled to bring Closed Loop Partners’ Ventures Group into the Partsimony family as a partner who brings industry connections, guidance and their fundamental thesis of circular economy to the table. Closed Loop Partners shares our vision of digitizing, optimizing and regionalizing supply chains for efficient and sustainable hardware production,” said Partsimony CEO, Rich Mokuolu. 

“Closed Loop Ventures Group is pleased to have Partsimony as a part of our portfolio. They are meeting a critical need for hardware companies and manufacturers to design with more recycled materials, with less waste, and for recoverability. Their platform aligns with macrotrends of shorter supply chains, more rapid product turns, and increased responsiveness and resiliency to supply chain disruptions,” said Danielle Joseph, Executive Director, Closed Loop Partners. 

This funding round will allow Partsimony to scale their SaaS platform beyond beta and drive value for repeat and new customers. Partsimony is actively working with customers across the automotive, aerospace, robotics, and medical device product segments, and they are open to speaking with all companies building complex hardware products.

About Partsimony

Partsimony is a SaaS network that unifies disparate data from multiple sources to efficiently manage hardware from prototype through production and bring superior intelligence to manufacturing supply chains. Partsimony enables hardware companies and manufacturers to make smart decisions faster, and enhance their supply chain resilience. Learn more at https://www.partsimony.com/ 

About Closed Loop Partners

Closed Loop Partners is a New York-based investment firm comprised of venture capital, growth equity, private equity, project finance, and an innovation center focused on building the circular economy. Investors include many of the world’s largest consumer goods companies and family offices interested in investments that provide strong financial returns and tangible impact. Learn more at www.closedlooppartners.com.

Press Contact

[email protected] 

Rich Mokuolu, Partsimony CEO

First Localized Materials Recovery Facility (“MRF”) on East Coast Opens in Cumberland County

By

October 22, 2021

MILLVILLE, N.J., Oct. 22, 2021 — The Authority constantly strives for innovation with the goal of “improving your tomorrow.” Its latest project is the new 12,000 square-foot, small-scale Materials Recovery Facility (“MRF”) named New Leaf and located within the Solid Waste Complex of The Authority at 169 Jesse Bridge Road. It will sort, bale, and ship to market valuable local recyclables—including paper, plastic, glass, and metals—from our existing single-stream county recycling program, and it is the first such facility on the East Coast.

In a public-private partnership, The Authority teamed up with circular economy-focused investment firm, Closed Loop Partners, and Canusa Hershman, a leading recycling company, to finance New Leaf, which will empower communities to manage valuable materials locally through small-scale recycling units, manufactured by Revolution Systems. These patented recycling units are less capital intensive than traditional large-scale recycling facilities, with a unique revolving table that aids the sorting process of recyclables. They can capture recyclables that might otherwise escape the initial sorting process, as their design enables multiple chances at recovery rather than just the one chance on a traditional MRF’s linear conveyor belt. In turn, this increases the volume of recyclables recovered and reduces landfill waste.

“Enhancing local recycling capabilities enables the community to benefit from new revenue opportunities, a healthier environment, and new jobs,” says Ron Gonen, Founder & CEO of Closed Loop Partners. “We’re proud to work with The Authority and Canusa Hershman to accelerate a more modern, resilient future for recycling, rethinking the status quo and championing new designs and local, small-scale facilities. This will be a critical part of building a more circular economy that keeps valuable materials out of nature and landfills, and in manufacturing supply chains.”

The MRF at The Authority currently receives an average of 65 tons of recycling material per day and has the potential to scale in anticipation of future growth in Cumberland County. Moreover, the MRF operates onsite at the Solid Waste Complex, deriving its energy from the gases harvested from the landfill also located onsite. Localizing MRF operations eliminates transferring recyclables to another MRF outside of the county, which is an improvement to environmental sustainability and to financial responsibility through lower trucking emissions and lower trucking costs. It is estimated that by localizing the new Mini MRF it will help avoid 1 million miles of trucking over the life of the contract. Regarding the bales headed for market, The Authority shares in their sale price and intends to invest this newfound revenue in future projects for the county.

“It’s been our mission to protect the local environment and simultaneously to improve the economic viability of Cumberland County,” said The Authority President & CEO, Gerard Velazquez, III. “The MRF fulfills both aspects of this mission elegantly, and we believe that it demonstrates a willingness to chart our own course toward a better future.”

The MRF begins its operations in earnest today, but it already has had an impact on our local economy, thanks to new full-time jobs at the facility that management intends to fill with local talent.

Joseph Derella, Director of the Cumberland County Board of Commissioners, described the new MRF as an example of “green technology job creation” stating, “The Authority continues to be an engine of innovation for our county by laying the foundation for sustainable and smart economic growth.”

Deputy Commissioner Darlene Barber added, “The people of Cumberland County can be proud of The Authority’s leadership in taking this giant step in our goal to create a sustainable future.”

Finally, Mayor Abigail O’Brien of our host township of Deerfield commented, “Partnerships that promote innovation, sustainability, and job creation for our residents will always have a home in Deerfield Township.”

About The Authority
In addition to its environmental related initiatives, The Authority is responsible for the development, financing and project management of projects and programs most vital to sustaining the economic and environmental future of Cumberland County and the State of New Jersey. The Authority works in tandem with the Cumberland County Board of Chosen County Commissioners to foster greater economic growth, business development, and quality of life for all Cumberland County residents.

About Canusa Hershman
Canusa Hershman Recycling is an industry leading trader of recovered fiber, plastics and other recyclable commodities, which utilizes more than a century of market experience to deliver creative and reliable solutions to its trading partners around the world. In addition to recyclable commodities trading, Canusa Hershman has extensive experience in successfully operating material recovery facilities while, through affiliates, is also actively engaged in trading other sustainable commodities including containerboard and industrial resins. If you’re interested in learning more, please contact Val Jones at [email protected].

About Closed Loop Partners
Closed Loop Partners is a New York-based investment firm comprised of venture capital, growth equity, private equity, project-based finance and an innovation center focused on building the circular economy. The firm has built an ecosystem that connects entrepreneurs, industry experts, global consumer goods companies, retailers, financial institutions and municipalities, bridging gaps and fostering synergies to scale the circular economy. Learn more at www.closedlooppartners.com.

Contact
Ben Robinson, Economic Development Liaison
The Authority
745 Lebanon Road
Millville, NJ 08332
856-825-3700 x1234
[email protected]

SOURCE The Authority

Starbucks and McDonald’s Deploy Additional $10 Million with NextGen Consortium to Accelerate the Circularity of Foodservice Packaging & Address Urgent Waste Challenge

By

October 20, 2021

The Consortium expands its work to advance reusable packaging systems, strengthen recycling and composting infrastructure and scale foodservice packaging innovation

NEW YORK, Oct. 20, 2021 — Today, Closed Loop Partners announced an additional $10 million commitment from the NextGen Consortium‘s Founding Partners, Starbucks and McDonald’s, to continue the Consortium’s work: identifying, accelerating and scaling commercially viable, circular foodservice packaging solutions. The Coca-Cola Company increased its commitment to now participate as a Sector Lead Partner, paving the way for sustainable packaging solutions for its broad customer base. JDE Peet’s, Wendy’s and Yum! Brands will continue their participation as Supporting Partners in the Consortium, and the Consortium continues to invite other brands to join the effort.

Since 2018, the NextGen Consortium has made significant headway in advancing sustainable packaging innovation and recycling infrastructure to help end foodservice packaging waste, with an initial focus on redesigning the single-use hot and cold fiber cup. The Consortium’s NextGen Cup Challenge sourced 480 solutions globally to redesign the cup, selecting 12 winning solutions across three areas: innovative cup & cup liners, new materials, and reusable cup service models. Following the Challenge, the Consortium has continued to advance the development of innovative cup and cup liner innovations, and the Consortium’s Circular Business Accelerator supported six early-stage teams to help test and refine their solutions.

In 2019 and 2020, Accelerator teams executed on-the-ground tests at a large tech company’s campus with four solutions, including two reusable systems, moving to the pilot phase across 14 local, independent cafes in the San Francisco Bay area. These solutions received valuable feedback from customers, restaurants and other key stakeholders. Drawing on insights from those pilots, the Consortium released a first-of-its-kind report, Bringing Reusable Packaging Systems to Life, sharing a blueprint and open-source resource to encourage collaboration and the growth of reuse models. The Consortium also continued its work across the broader foodservice packaging value chain, conducting dozens of lab- and commercial-scale tests with recyclers, material test labs and paper mills to evaluate the performance, recyclability and recoverability of the fiber cup solutions. As part of this work, the Consortium collaborates with paper mills, recycling facilities and municipalities to expand recycling access and recovery of fiber cups as well as NextGen cups.

“Through NextGen, we’ve made great progress in growing more sustainable packaging solutions, and there is a lot more work to be done. Faced with increasing climate risks, eco-conscious customers and a resource-constrained world, the foodservice industry must double down on its efforts and band together to strategically tackle the mounting waste challenge,” said Kate Daly, Managing Director of the Center for the Circular Economy at Closed Loop Partners. “Starbucks, McDonald’s and other partners in the Consortium make clear their commitment to collaboratively accelerate more circular foodservice packaging solutions, and we encourage stakeholders––from packaging manufacturers to recyclers to designers––to join us in advancing NextGen solutions.” 

With the additional $10 million in funding, the Consortium will expand its efforts, including and beyond the fiber cup, to strengthen the sustainable packaging ecosystem. The Consortium will deepen its customer research and testing of reusable packaging systems, explore the circularity of additional packaging materials such as polypropylene (PP), and accelerate the development of more widely recyclable and compostable fiber-based packaging solutions, as well as the infrastructure pathways needed for their recovery. The Consortium’s increased focus on PP is driven by the growing demand for recycled PP in foodservice packaging, and the need to optimize recycling infrastructure to capture the material. With its additional focus on polypropylene, in 2020, the Consortium joined The Recycling Partnership’s Polypropylene Recycling Coalition as a Steering Committee member, collaborating to allocate millions of dollars in grants to recycling facilities to improve polypropylene recycling.

“Starbucks’ work with the NextGen Consortium has been an important part of our ongoing efforts to reduce single use cup waste, part of our larger goal to reduce waste sent to landfills by 50% by 2030,” said Michael Kobori, Chief Sustainability Officer at Starbucks. “There has never been a more critical time for industry collaboration to shift away from single-use packaging, promote reusability, and champion recyclability. We are thrilled to continue our work with the NextGen Consortium to drive sustainable solutions for our planet.”

“Over the last three years, the NextGen Consortium has demonstrated that working together as an industry helps accelerate sustainable change, and is paving a clear pathway forward for the industry to scale packaging solutions that can benefit the planet and the communities we serve,” said Marion Gross, Senior Vice President and Chief Supply Chain Officer at McDonald’s North America. “Knowing that industry-wide collaboration is essential to creating lasting, scalable impact, we invite others to join us in this important work to advance solutions and eliminate packaging waste.”

Individual waste mitigation efforts by Founding Partners Starbucks and McDonald’s further bolster the Consortium’s work to accelerate sustainable packaging innovation, foster more robust recovery opportunities for packaging, and develop, enhance and optimize emerging reuse models. Starbucks continues to innovate to encourage the use of personal reusable cups in stores, most recently in partnership with Ocean Conservancy, and will continue to test and learn from programs geared toward reducing single-use cups around the world. McDonald’s has also made strides toward reuse, partnering with TerraCycle’s Loop platform to pilot reusable cups in the brand’s UK stores, and continues to make tremendous progress in ensuring its packaging comes from renewable, recycled or certified sources.

“Getting to a circular economy will require every community, organization and industry to be involved in making it a reality. The food & beverage industry touches all people, and so the need for more sustainable packaging for our customers is a top priority,” said Alpa Sutaria, General Manager, Sustainability, North America Operating Unit, The Coca-Cola Company. “We are proud not only to continue our work with the NextGen Consortium, but to increase our commitment, now as a Sector Lead Partner. We invite others to join us in this effort to strengthen and scale circular solutions for packaging.”

“With approximately 11 million metric tons of plastic waste ending up in our oceans every year, we need to bring circular packaging solutions to the table. We know that to tackle this massive, shared challenge, all stakeholders have to be involved,” said Erin Simon, Head of Plastic Waste + Business at the World Wildlife Fund (WWF). WWF is an environmental advisory partner for the Consortium. “The NextGen Consortium can play an important role in catalyzing the collaboration we need by enabling cross-sector partnerships and open-source insight sharing, and we are proud to be a partner in this important work.”

Moving forward, even greater collaboration among businesses, industry groups, nonprofits and others will be needed to solve systemic waste challenges. Through the expanded commitment of the NextGen Consortium, the multi-year collaboration will continue to work across the value chain––with global brands, municipalities, NGOs, recyclers and manufacturers––to advance viable market solutions that scale throughout the supply chain and bring value to recovery systems.

About the NextGen Consortium

The NextGen Consortium is a multi-year consortium that addresses single-use food packaging waste globally by advancing the design, commercialization, and recovery of food packaging alternatives. The NextGen Consortium is managed by Closed Loop Partners’ Center for the Circular Economy. Starbucks and McDonald’s are the founding partners of the Consortium, with The Coca-Cola Company joining as a sector lead partner. JDE Peet’s, Wendy’s and Yum! Brands are supporting partners. The World Wildlife Fund (WWF) is the environmental advisory partner. Learn more at www.nextgenconsortium.com.

About the Center for the Circular Economy at Closed Loop Partners

Closed Loop Partners is a New York-based investment firm comprised of venture capital, growth equity, private equity, project-based finance and an innovation center. In 2018, Closed Loop Partners launched its innovation center, the Center for the Circular Economy, which unites competitors to tackle complex material challenges and to implement systemic change that advances the circular economy. Closed Loop Partners brings together designers, manufacturers, recovery systems operators, trade organizations, municipalities, policymakers and NGOs to create, invest in, and support scalable innovations that target big system problems. Learn more about the Center’s work here.