Circular Digital Platform for Recycled Plastics GA
June 20, 2022
launched its full-service digital platform that introduces a new
way to buy and sell sustainable commodities at scale, starting
with a focus on recycled plastics. The platform helps essential
industries evolve to a more sustainable future by offering
efficient online trading, accessible data and transparent
economics. Circular's digital infrastructure tools simplify
supply chain logistics by doing all the sourcing, vetting,
matching, contracting, shipping and billing for its customers.
Buyers and sellers can trade with confidence backed by a full
guarantee, and a dedicated concierge to facilitate the entire
"Circular selected recycled plastics to start because of the
scale of opportunity and challenge this industry faces," said
Aidan Madigan-Curtis, Partner, Eclipse Ventures and Board Member
of Circular. Over 380 million tons of virgin plastic are
produced each year and global recycling rates remain under 9%,
dropping to under 5% recently in the US. This results in oceans
of waste, microplastics in our bloodstream, and roughly 2
gigatons per year of CO2 pumped into our atmosphere."
"The plastics industry is essential to the global economy and
clearly needs to evolve sustainably as fast as possible," said
Madigan-Curtis. "The digital tools required to help this
sustainable evolution already exist in other industries; it's
inevitable they will apply to the plastic industry; our aim is
to expedite the process," she added.
As a leading early adopter of sustainable packaging, Method and
Ripple Foods founder, Adam Lowry, is no stranger to the
challenges companies face sourcing quality recycled material.
"We applaud major brands and manufacturers setting
sustainability goals to reduce their dependence on virgin
plastic. Now is the time to take real action on those pledges,"
Lowry said. "With positive economics, recyclers are investing in
more capacity, and Circular's digital platform gives buyers and
sellers more options, making trading easier. For the first time
in over a decade, I feel confident we've got the right
ingredients for real change," he said.
"By delivering a transparent digital trading experience, brands
and manufacturers can now confidently buy sustainable materials
at scale," said Arthurs. "This creates a clear economic
opportunity which in turn stimulates innovation to create more
supply, more liquidity, and ultimately greater circularity, less
waste and less CO2. Marrying the best of technology with the
reality of how plastic is bought, creates a real win-win, which
is ultimately Circular's goal," he added.
leadership team is uniquely positioned to deliver on their
objectives, bringing decades of technology platform experience
from the likes of Google, Airbnb, TaskRabbit, Bloomberg, Snap
and Medium. Complementing that, Arthurs added a deep bench of
senior industry advisors, including Lowry and executives in the
recycling and manufacturing spaces. Rounding out the team,
Circular secured Eclipse Ventures, a top venture capital firm
helping entrepreneurs build exceptional companies that make
physical industries more efficient, resilient, and profitable,
as their lead investor. The combination brings unparalleled
depth of expertise in digitizing physical industries, including
manufacturing, supply chain and logistics.
For the past year, Circular and Eclipse have been conducting
research and development, and testing the digital platform among
buyers and sellers. Circular.co is now prepared to launch and
offer real scale for global buyers and sellers.