ECOCO Taiwan

About ECOCO Taiwan

ECOCO Taiwan, operating under the legal name Fun Lead Change Co., Ltd., is a circular economy enterprise founded in 2017 by high school friends Andrew Li (Li Han-yang) and Wu Chang-lian. Drawing from their backgrounds in finance, the founders were motivated to create a better world for their children, starting the venture in their hometown of Tainan. The company has engineered a business model that transforms waste recycling into a commercially viable ecosystem.

The core of ECOCO's operation is a network of smart recycling machines, often called Reverse Vending Machines (RVMs), placed in strategic locations across Taiwan. These machines utilize AI-powered optical recognition to accurately sort recyclables such as PET bottles, aluminum cans, PP plastic cups, and batteries, rejecting items with excessive residue to ensure high-quality raw material for recycling plants. This technological approach allows ECOCO to achieve a bottle-to-flake recovery rate of over 90%, significantly higher than the market average, which increases the value of the collected materials. Initially importing machines from Norway, the company has since developed its own "Made-in-Taiwan" RVMs to reduce costs.

ECOCO's revenue is generated through a multi-faceted business model. The primary streams include leasing its smart recycling machines to clients—typically retailers, cafes, and restaurants—and selling the high-quality, sorted recyclables directly to processing plants. By offering leasing options, ECOCO makes the technology accessible and handles the waste logistics for its clients, who can also earn additional income from the waste sales. The company's business model proved profitable by early 2022.

For consumers, ECOCO has gamified the recycling process. By depositing recyclables, users earn "ECO Coins"—a point-based currency—through a dedicated mobile app. These points can be redeemed for discounts and special offers at a wide network of over 6,000 partner stores, including major brands like FamilyMart, Wellcome, and Carrefour. This rewards system incentivizes public participation and drives foot traffic to partner businesses, creating a symbiotic relationship. Since its inception, this system has facilitated consumption valued at over NT$200 million.

The company has achieved significant milestones, securing over NT$100 million in a Pre-A funding round led by Topkey Development and Formosa Biomedical. This capital is earmarked for expanding its network to 500 service stations in Taiwan, enhancing R&D for broader recycling capabilities, and accelerating its entry into Southeast Asian markets. Having started operations in 2018, ECOCO had deployed over 108 machines in 12 cities by mid-2022 and aims to surpass 1,000 machines.