The CEO of Woodinville, Washington-based Deep Green Waste & Recycling Inc. (DGWR) says the firm, which has an over the counter (OTC) stock listing, intends to use that financing to make acquisitions in the waste and recycling sector.
“The company has successfully achieved its first milestone of becoming a fully reporting SEC issuer," Lloyd Spencer says in an August interview with SmallCapVoice.com. “We look forward to working in close cooperation with a key investor, completing our first acquisition in the waste and recycling management arena, and delivering innovative waste and recycle management services for our customers. These are exciting times for our company and its shareholders.”
On its website, DGWR refers to the company “reestablishing itself,” which could be a reference to an earlier effort by DGWR to make a subscription offer for OTC stock shares in 2018. Spencer also tells SmallCapVoice.com that DGWR began to build a business in 2017 and 2018. “The company was operating in 34 states, had 65 clients [and was servicing] more than 300 properties,” he says in the interview.
As currently configured, the DGWR leadership team includes Spencer, who largely has a tech sector background, as president and CEO; David Bradford, who has a media and cable TV executive background, as chief operating officer; and Bill Edmonds, who was an executive at the former International Environmental Management (IEM), a waste and recycling business that focused on malls and shopping centers, as board chair.
IEM was acquired by Oakleaf Waste Management in 2006, and in 2011 Oakleaf was acquired by Houston-based Waste Management Inc.
In the interview, Spencer indicates DGWR intends to follow Edmonds’ IEM model, describing the DGWR business model as “a logistics company [that] manages waste and recycling for commercial customers,” including shopping centers, multi-family apartments and hotels.
He also says DGWR intends to emphasize the recycling aspects of serving corporations, saying customers expect plastic, electronics, food scrap and other recycling services. That is “ultimately what our commercial customers are looking for,” he comments.
To that end, Spencer points to companies such as polypropylene (PP) recycler PureCycle in Ohio; Ripple Glass of Kansas City, Missouri; and secondary resins producer Birch Plastics of Houston as the types of firms DGWR will be seeking to partner with or to acquire.
In addition to emphasizing recycling, Spencer indicates DGWR intends to emphasize telematics or bin monitoring as a service. The company will use
We use “an IOT [internet of things] device that monitors compactors, to see when the compactor is full,” and “then engage with the hauler, as opposed to having [a truck] arrive whether you need it or not,” states Spencer.
The 9-minute interview with Spencer can be found on this web page.