Dive summary:
- Koran Andrews, the CEO of the Stillaguamish Tribal Enterprise Corporation, went to MicroGREEN Polymers to buy recyclable cups for the tribe’s casino and ended up investing $5 million in the company in addition to buying the cups.
- MicroGREEN produces recyclable plastics that in themselves are made from 50% recycled material.
- MicroGREEN uses a process called InCycle for their plastics, which essentially adds a layer of micro air pockets in the center of the plastic expanding the size of the plastics while using less material.
From the article:
In addition to being recyclable, 50% of the PET that goes into InCycle cups and trays comes from recycled water bottles. Using recycled bottles helps prevent a significant amount of plastic from ending up in landfills or getting shipped off to China, said Chris Jacobs, vice president of marketing and product development at MicroGREEN. The other 50% derives from virgin PET.
"In the U.S. we recycle less than 30% of water bottles," said Jacobs. "Consumers know that water bottles are a problem."
After making the commitment to use InCycle cups in the casino, and despite having never invested in other companies before, Andrews felt strongly about investing in MicroGREEN.
"After the tour, it became very clear to me that this is a brand new technology that can really do some good," Andrews said. "Not just for our local economy, but for the environment as well." ...
