Progressive Waste Solutions, based in Toronto, has taken a 19.9 percent stake in TerraCycle Canada, which collects and recycles pre- and postconsumer material. The announcement was made at a press conference Jan. 29, 2014, with Joseph Quarin, Progressive CEO, and Tim Szaky, TerraCycle CEO.
|Progressive Waste Solutions CEO Joe Quarin (right) and TerraCycle CEO Tom Szaky announce Progressive Waste Solutions' acquisition of a 19.9 percent stake in TerraCycle Canada. MARKETWIRED PHOTO/TerraCycle Canada|
Both companies say the deal will result in bringing more recycling options to Progressive Waste Solutions’ commercial, governmental and residential customers.
TerraCycle Canada also has announced its corporate rebranding as a Progressive Waste Solutions partner.
Szaky says, “I am excited TerraCycle is partnering with Progressive Waste Solutions in Canada. Their industry leadership maintains an impressive vision for a future in which materials that are now landfilled or incinerated can be recycled. TerraCycle shares this vision and is excited and ready to accept Progressive Waste Solutions' challenge to scale our operations and impact using their vast infrastructure.”
This partnership will include Progressive offering TerraCycle's premium recycling services in many of its contract bids, thereby providing Progressive Waste Solutions customers with advanced options that are available from no other waste management company for recycling otherwise nonrecyclable waste streams, the companies say.
Progressive Waste’s Quarin says, “TerraCycle demonstrates the ability to engage manufacturers, retailers and, most importantly, millions of consumers in recycling otherwise nonrecyclable waste streams. We expect that this partnership will enhance the range of recycling options Progressive Waste Solutions can offer its customers. Our investment in TerraCycle reflects the progressive approach we take towards our commitment to creating a more sustainable future.”
Through the corporate sponsorship of companies such as Maple Leaf Foods, Mr. Christie's, Nespresso and Garnier, TerraCycle runs free recycling fundraisers at more than 20,000 schools and community groups across Canada. In addition, TerraCycle partners with retailers, such as London Drugs and Staples Canada, to collect waste at their stores. The company also partners with the city of Vancouver to collect cigarette butts in receptacles installed across the city.
Globally, TerraCycle has repurposed more than 2.6 billion pieces of food and beverage, office and school supply, personal care and beauty packaging and other hard-to-recycle waste streams, such as cigarette butts. These collections helped raise more than $8 million dollars for charity. TerraCycle says it is currently creating solutions for other difficult to recycle, but widely discarded, waste streams such as disposable diapers and used chewing gum.