Amp offers new leasing program

Amp Robotics Corp., Denver, has announced a new lease program to make artificial intelligence (AI) and robotics more accessible to recycling businesses. The company’s Amp Cortex Lease program offers interest-free financing without an upfront payment, enabling waste management and recycling companies to get the benefits of sorting automation without the capital expense.

“The challenging operating environment for recycling businesses brought on by COVID-19 has sharpened focus on key issues like worker safety, productivity, bale purity, labor shortages and lowering the overall cost of recycling—all existing pain points for the industry that the pandemic has elevated,” says Matanya Horowitz, Amp founder and CEO. “Operators are weighing automation not only for its immediate and direct financial return but also its ability to enable recycling businesses to be resilient in the face of these challenges. Our new financing option, the Amp Cortex Lease, makes our technology more accessible than ever to the industry at this critical time, when the pandemic has made recycling that much more important to our domestic supply chain.”

According to a news release from Amp, monthly payments in the program are fixed and can total less than $6,000 a month, freeing up cash that companies can reinvest in other parts of their businesses. In addition, the program includes a warranty, maintenance and service packages. 

“Recycling businesses continue to be squeezed by fixed costs and volatile commodity pricing, but with the Amp Cortex Lease they can reduce variable operating costs for sorting by upwards of 70 percent,” adds Chris Wirth, vice president of marketing at Amp. “On top of that, material recovery facilities can boost productivity and flex capacity to quickly capture high-value, in-demand commodities like paper and OCC [old corrugated containers], increasing both their top and bottom lines.”

Amp’s AI and robotics technology recovers plastics, cardboard, paper, metals, cartons, cups and other recyclables that are reclaimed for raw material processing.