TerraCycle
TerraCycle's logo
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| Privately held company | |
| Industry | Waste management |
| Founded | September 2001 |
| Founder |
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| Headquarters | Trenton, New Jersey, U.S. |
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Number of locations
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20 countries |
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Key people
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Tom Szaky (CEO) |
| Products | Goods made from recycled products |
| Services | Recycling |
| Website | terracycle |
TerraCycle is a private U.S. small business headquartered in Trenton, New Jersey. It makes consumer products from pre-consumer and post-consumer waste ("upcycling") and by reusing other waste materials. The company is known for its environmentally friendly aspects.
TerraCycle was founded by Tom Szaky and Jon Beyer in the fall of 2001. In 2002, the company bought a $20,000 continuous flow composting system invented by Harry Windle of Gainesville, Florida, to take organic waste and have it processed by worms into fertilizer. The first waste used came from the dining halls of Princeton University.
Initial funding came from family and friends of Tom Szaky and Jon Beyer as well as awards from business plan contests. TerraCycle received media attention when it turned down a one million dollar venture investment opportunity awarded through the Carrot Capital Business Plan because the investors planned to change TerraCycle's business model. Further funding came from private investors. The first investor was Suman Sinha, who gave $2,000 in exchange for 1% of the company stock.
Instead of pure fertilizer, TerraCycle sold its products in liquid form. The company made this decision upon concluding that liquid fertilizer could have better consumer reception as well as production advantages. The original purpose for packing its liquid fertilizer in used plastic bottles was because the company could not afford new ones. Later, the company continued this process and marketed their gardening products as "Waste in Waste". Schools and local organizations collected bottles for TerraCycle in exchange for proceeds in what became known as the "Bottle Brigade".
Maintaining intellectual property rights, The Coca-Cola Company gave TerraCycle a license to use its bottles in TerraCycle products.PepsiCo also gave TerraCycle a license to use its distinctively shaped bottles.
In 2004–5, Home Depot Canada and Wal-Mart Canada began carrying TerraCycle products. Other companies followed. During its growth, the company bought an abandoned mansion to house its interns and a warehouse for its fertilizer production and offices.
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