Dive Brief:
- TOMRA Systems, a reverse-vending machine (RVM) supplier, has inked a deal to acquire competitor Greenbean Recycle Inc.
- Greenbean focuses in technology for RVMs that issues “rewards” and incentives for customers, while also adding marketing value for retailers.
- It was announced that Greenbeans’ reward technology will be integrated into TOMRA’s ReAct -- a system designed to encourage consumers to recycle through the use of a rewards system for recycling materials properly.
Dive Insight:
Greenbean machines deposit payments directly into a PayPal account or onto a gift card. Each can fed into the RVM yields about 5 cents per items.
Shanker Sahai, the CEO of Greenbean Recycle, said, “Greenbean was founded to make RVMs convenient and more accessible, which would increase recycling rates. By incorporating Greenbean technology into TOMRA’s ReAct program, TOMRA can engage RVM users and increase recycling rates with its broad and growing customer base and worldwide presence.”
In Beijing, China, 400 RVMs were installed in an effort to encourage plastics recycling. The kiosks are expected to significantly raise the recycling rate for the city.
