Stock Offering

TerraCycle, 121 New York Avenue, Trenton 08638. 609-393-4252. Tom Szaky, CEO. www.terracycle.com.   Terracycle, the Trenton-based company that recycles unusual products and creates reusable containers for consumer products, has raised $10 million from a stock offering, according to its latest quarterly report. The company hopes to raise $20 million to fuel growth through a “regulation A” offering that allows the general public to invest (U.S. 1, July 4, 2019).   The company also reported $11.2 million quarterly revenues.   As part of the stock offering TerraCycle has attracted investment in its Regulation A offering from ITOCHU Corporation, a 100-year-old, $50 billion revenue Japanese trading company. According to a press release, ITOCHU, one of the largest brokers of plastic worldwide, will work with TerraCycle to expand the market for post-consumer plastics, and in particular to develop and sell plastics that come from products that are usually not recycled.   The company also expanded its workforce by 10 percent.   “Our mission at TerraCycle has always been to eliminate waste, recycle the unrecyclable, and use our innovative business solutions to minimize human impact on the planet,” said TerraCycle CEO Tom Szaky. “During the course of our 18-year history we’ve successfully translated our passion for what we do into an established company built on a strong financial foundation with sustained earnings and growth.”