Cash for Trash: Innovative Companies Profitably Upcycle, Recycle and Reduce Waste
TerraCycle M&M's (Mars) Include USA
Turning worm poop into fertilizer was TerraCycle’s first big idea. Then they transformed discarded drink containers into consumer bling, which made them a world-recognized leader in this hot, new trend of “upcycling.” Upcycling is the conversion of waste destined for landfills into new products of better quality or a higher environmental value. TerraCycle upcycles unwanted trash into messenger bags, notebooks, and the list goes on.
“Buy low, sell high” is the underlying business model for upcycling companies such as TerraCycle. They buy raw source materials (waste) at low cost and charge premium prices for their fashionable, environmentally-friendly upcycled products. But that’s not all. The upcycling companies’ business partners also benefit because their scrap waste is being reused. Instead of having to pay someone to haul their waste away, someone is actually paying for it and taking it off their hands.