Greenback Recycling Technologies

About Greenback Recycling Technologies

Founded in 2018 by Philippe von Stauffenberg, with Carlos Ludlow-Palafox as a co-founder, Greenback Recycling Technologies operates as a UK-based advanced plastics recycling firm. The company is focused on creating circular economy solutions for plastic packaging waste that is difficult to recycle. It has secured funding from private investors, the UK government, and entities like Cambridge Angels.

Greenback's business model revolves around establishing a decentralized network of modular recycling plants situated near sources of plastic waste. The company purchases this waste from local collectors and has implemented a voluntary extended producer responsibility program where consumer goods companies contract Greenback to pay for the collection of previously low-value plastic waste. Revenue is generated from the sale of certified recycled raw materials and by issuing neutralization certificates to corporate partners. A key collaboration is with Nestlé Mexico, which resulted in the opening of Greenback's first commercial-scale advanced recycling plant in Cuautla, Mexico, in May 2023. This facility is designed to process the annual flexible plastic packaging waste of approximately 250,000 people.

The core of Greenback's service is its proprietary advanced recycling technology. The company acquired Enval, a spin-out from the University of Cambridge, to utilize its patented microwave-induced pyrolysis process. This technology transforms hard-to-recycle flexible and multi-layered plastics into a pyrolysis oil called π-Oil™, which serves as a feedstock for producing new, food-grade packaging. A significant benefit of this process is its ability to also recover aluminum from multi-layered packaging. To ensure transparency and combat potential fraud in the market for recycled materials, Greenback developed the eco2Veritas™ platform. This digital certification system uses blockchain, AI, and IoT to trace the origin and quantity of waste material throughout the entire value chain, providing auditable proof of recycling and circularity.