About

Recytrust increases operational efficiency and uncovers economic value in streams of recyclables for businesses. We have developed the first-of-its-kind Smart Scale that enables sorting, boosts employees' engagement and provides real-time data about facility and employees’ overall recycling performance in any office facility. The product incorporates a customized technology of Smart -connected to the cloud- Scales and user identification technology. In this manner, Recytrust assists companies to manage their recycling waste effectively, and at the same time generates revenue for businesses by enabling them to auction off their generated waste volumes to a certified network of collectors, while providing traceability for all parties involved through Smart Contracts on Blockchain. Recytrust acts as waste brokers who could help ease the burden of companies, businesses & organizations, by providing a few key services: managing day-to-day interactions with waste haulers, and leveraging the combined purchasing power of the broker’s multiple customers to obtain better pricing for each. That enables even small, local suppliers to bid on the individual outlets of large companies. Apparently, cost reduction drives Recytrust' business model. Recytrust is an asset-light waste and recycling company focused on sustainability. Our customers are primarily in the retail, food service and hospitality industries and the heavy industrial sector.

Solution & Product

Compared with the current state of the art in the market, Recytrust has no match offering unique value-added services (VAS) able to attract both new customers and investing schemes. Our competitive strategy includes building our own product portfolio, and using that to leverage mutually-beneficial partnerships. Since Recytrust is an asset-light company (it owns no waste trucks), it's focused on cost reduction- renegotiating contracts, adjusting frequency of pickups and increase margin profits for its clients. We essentially handle all of our business customers' waste needs, and as we find ways to reduce the waste, we share the savings back with our customers. We will primarily focus on direct sales and online marketing exposure to identify and pursue businesses that are waste generators and demonstrate the value of our solution, such as providing transparency and measurable visualization, sustainability reporting, and opportunities for cost savings/revenue creation. A targeted willingness to pay (WTP) survey we have already conducted settled on the use of a one-time gate-fee of 250euros per scale plus a monthly subscription fee of 5euros per scale, to allow businesses to maintain platform access and visualize metrics in real-time. In addition, we will charge Certified Collectors 10euros/ton as a prepaid deposit in their digital wallet to be able to participate in the e-auction service.

Innovation & Scalability

Recytrust has created a groundbreaking patented technology that utilizes IoT, Smart Contracts on blockchain technology, data analytics and mobile app, to create transparency, efficiency, accountability, and increased profitability for businesses and recycling collectors. IoT technology: Recytrust designed and developed the first-of-its-kind internet-connected digital weight scale that can be placed underneath any recycling bin to monitor weight at any given time. The hardware is also integrated with an RFID access control, to identify users and monitor their recycling performance. Mobile App: Recytrust is the first matching platform, where businesses that generate streams of recyclables connect with recycling collectors to dramatically lower costs and increase profits for both parties. Recytrust’ Uber-like App is providing an optimal driving route in real-time, vehicle tracking and real-time positioning, navigation, and alerts while collecting real-time metrics on the measured weight of recyclables to be picked up. Smart Contracts Once a pickup of any measured volume of recyclable stream is confirmed then a unique tracking code is entered in Recytrust’ blockchain ledger that enables tracing of recyclables’ origin through their next life-cycles and background proof of circularity reports & certifications.

Traction & achievements

Recytrust to tackle the environmental problem created by the Greek’ fast-accumulating trash, is creating profits by sharing savings with its B2B customers. Using this asset- light approach and fueled by its groundbreaking technology, Recytrust aims to grow rapidly, attracting major clients from industry. By the end of 2022, Recytrust is planning to serving 500 businesses and generating more than 150,000€ in revenue. We have been monitoring IoT trends for a while, and we tried combining technology with monitoring to ensure transparency in any malfunctioning process. Then we identified the huge need for waste management in Greece and decided to deal with it. Until today, Recytrust although a new entry in the market with just a 2 year presence amid lockdown and economic recession, already, generated a total revenue of 105,000€ for providing its cost-saving services to the 4 Municipalities and 50 businesses, which are participating in its service by installing its smart scales. Its traction shows high demand since Recytrust filled pre-orders for more than 1000 scales by end of 2022. Lastly, Recytrust established a partnership and signed contracts and license agreements, with Material Recovery Facilities to uptake its waste collection service, while also will be used as a vehicle to expand Recytrust' model, in other 10 countries, where both companies have presence.

Team & Why Us

Ms. Marilena Makrinikola holds valuable knowledge in Iot & blockchain technologies and she is the development genius behind our end-to-end IoT solution. Mr. George Stengos is a highly successful entrepreneur with strong competencies related to technology transfer & prototype development & has specialized skills and expertise on waste and energy management services & developing applications for effective waste tracking and energy monitoring. The great success described above, reveals the proven skills of growth mindset and execution that Recytrust' team possess. The daily growth of Recytrust and its flagship product of Smart Scales, highlights its continued commitment to bringing affordable recycling solutions to the mainstream with innovative, easy to use products that keep people engaged and motivated on their recycling journey. Recytrust is dedicated to creating products and services that aim to make waste management totally automated and rewarding.

Funding Needs

From the start, we’ve always strived to do more, and to do important and meaningful things with the resources we have. Our company is operating well today, increasing its revenue on organic growth model.