Media Contact: Kendra Appelman-Eastvedt, 720-588-0040,
kendra.appelman-eastvedt@state.co.us
Sept. 1, 2020, REMOTE: On October 8, 2020, five teams from the Colorado NextCycle program will pitch their recycling end market ideas to compete for the opportunity to meet one-on-one with two eminent leaders in sustainable investing, Closed Loop Partners and the Colorado Impact Fund. The virtual pitch session is the culmination of the teams’ work with the Colorado NextCycle program, hosted by the Colorado Department of Public Health and Environment (CDPHE). The teams will present their end market business models to an audience of investors, community leaders, government officials, media, and a judging panel of industry experts. End-market ideas are ideas to change the physical state of a recyclable material so that it is returned to use in a manufacturing process.
“The five Colorado NextCycle teams have been working with business mentors and industry experts, as well as attending a business development bootcamp, to turn their ideas into viable business plans,” said Alice Havill, Vice President at Colorado Impact Fund. “The pitch session gives them the opportunity to put the spotlight on their business idea, not to mention exposure to potential private funders that may be in the audience.”
Colorado NextCycle is a CDPHE-funded business incubator designed to bolster the critically needed end markets for recovered commodities and organic materials in the state of Colorado. Colorado NextCycle is building upon the success from its inaugural season. Of the nine teams selected during the 2018-2019 season, three have been awarded a total of $1.5 million in Recycling Resources Economic Opportunity (RREO) program grants from CDPHE to further develop and implement their recovered material end-market business ideas in Colorado.
“By helping to foster end market business ideas for recovered materials, Colorado NextCycle is helping to create local circular economies with economic and environmental benefits for Colorado,” said Juri Freeman, project manager for Colorado NextCycle and senior consultant at RRS.
The Colorado NextCycle Pitch Session is a free, virtual event. For more information and to register to attend the online event, please visit https://recycle.zoom.us/webinar/register/WN_JzGMsgVyS-Kq7AG5X1FkFw.
The five teams that will pitch their recovered materials end market ideas include:
FoamCycle
- Headquartered: August, NJ
- Colorado Business Idea: Partner with Colorado cities/municipalities to create drop-off stations to collect and densify expanded polystyrene (EPS) or foam packaging. FoamCycle will utilize the recovered material to create a recycled picture frame product.
Loop Industries
- Headquartered: Terrebonne, QC
- Colorado Business Idea: Produces virgin-quality rPET (recycled polyethylene terephthalate) resin and polyester fiber by depolymerizing a wide variety of PET (polyethylene terephthalate is a common plastic used in many everyday items, such as soda and water bottles) waste.
Sana Packaging
- Headquartered: Denver, CO
- Colorado Business Idea: Designs and develops cannabis packaging for a circular economy using plant-based hemp plastic, reclaimed ocean plastic, and other sustainable materials.
Timber Age Systems Inc.
- Headquartered: Durango, CO
- Colorado Business Idea: Develop small scale, agile, local manufacturing for cross laminated timber utilizing previously unused and unwanted local timber in Southwest Colorado.
1-UP Materials, Inc.
- Headquartered: Newport, RI
- Colorado Business Idea: Manufacture 100% upcycled building materials using mixed waste plastic, low value glass, and aseptic and gable-top cartons (such as juice and milk cartons).
Funding for Colorado NextCycle is provided through the Recycling Resources Economic Opportunity (RREO) program. Technical and program management support is provided by RRS.
For more information about the program, please visit https://www.colorado.gov/pacific/cdphe/about-colorado-nextcycle or email nextcycle@recycle.com.
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