BillerudKorsnäs invests in recycling company for single-use packaging
By P&PC Staff
By P&PC Staff
BillerudKorsnäs has acquired a minority holding in Recycl3R, a company that has developed a global, digital solution to increase recycling rates of single-use packaging.
Recycl3R builds a database with information about what packaging material different consumer products consist of.
The database also understands the different recycling regulations and requirements around the world. This knowledge is used to guide consumers to the nearest recycling station and help them recycle correctly.
The solution amakes it possible for producers and distributors to give consumers incentive to recycle more with gamification, and by connecting value such as deposits or loyalty points to the different packaging materials.
“Packaging recycling is an area that we believe will be increasingly important in order to solve the environmental challenges ahead,” says Martin Neselius, venture manager at BillerudKorsnäs Venture, the wholly owned subsidiary that made the investment.
“Sustainability and digitalization connected to packaging are strategic focus-areas for BillerudKorsnäs Venture, and Recyc3R presents a very interesting opportunity based on their combined expertise in both areas. There are already steps taken towards more legislation and restrictions regarding single-use products, and we believe this development will continue. There is still a lot of work to do in order to ensure that more packaging enters the recycling stream and is recycled into new products.”