RecycleMatch is an online business-to-business (B2B) marketplace that allows companies to buy, sell or give away large volumes of waste including plastics, textiles, paper, chemicals, food, metals and building materials.
Companies can anonymously post messages on the site, listing materials that they wish to get rid of. Prospective buyers interested in reusing or recycling the waste can then ask the sellers questions, get samples and make offers.
Until now, companies have only been able to give away their waste on the site. Now, they can sell their materials by asking for bids and judging offers on pricing and other factors.
Companies can choose offers based on the factors important to them, which could include the end-use of the materials or the distance the goods would have to travel.
Austin and Houston-based RecycleMatch says that U.S. companies spend $22 billion to landfill materials they no longer need, even though the value of those materials is about $20 billion.
“Due to changing customer demands and supply chain mandates by industry leaders, companies are scrambling to reach zero waste. 70 percent of materials that get dumped into landfills can be repurposed, and the RecycleMatch marketplace finds those alternative uses,” CEO Chris Porch said.
Companies can also use the service to find better pricing for materials they are already recycling, Porch said.
“We’re the first marketplace designed specifically for the needs of large corporations who want control, protection, and trust in the entire process. This is a large and exciting opportunity to help companies reduce costs, strengthen their brands and help the environment.”
RecycleMatch was named one of Entrepreneur Magazine’s Most Brilliant Ideas in 2010.