TerraCycle Completes $25 Million Funding

TerraCycle Nestle Include USA Procter & Gamble Suez Aptar Ocean Sky Ventures ImpactAssets Quadia
Procter & Gamble is among investors in round to fund Loop.
TerraCycle Completes $25 Million Funding
TerraCycle, manager of Loop Global Holdings LLC, has completed a Series A “Founding Investors” capital raise of $25 million for Loop, its global reuse platform. The capital is expected to fund operations to profitability, according to Trenton, NJ-based TerraCycle. Investors include Procter & Gamble as well as Nestlé, SUEZ, Aptar, Sky Ocean Ventures, ImpactAssets and Quadia. "Given Loop's global momentum and the limited amount of capital being raised, it was important for us to pick partners who firmly believe in Loop's mission to establish modern-day reuse systems," said Tom Szaky, TerraCycle CEO. "With this community of partners, Loop is the beginning of the end of disposability, making reuse a viable and accessible option for CPGs, retailers and consumers." Loop was founded and is managed by TerraCycle, which operates specialty recycling services in 20 countries, working with leading consumer product companies, retailers, cities and facilities to recycle products and packages that would otherwise be incinerated, including contact lenses, beauty care, coffee capsules, oral care, cigarette butts and PPE. "P&G has successfully partnered with TerraCycle for over a decade. This led to P&G becoming the first investor and the first consumer packaged goods company to participate in Loop, with several of our leading global brands, including Pantene. Today's announcement is an important milestone in our mission to enable responsible consumption at scale," said Robert van Pappelendam, senior vice president, global hair care, Procter & Gamble. "We believe the time is now to create disruptive actions that drive the mindset shift required for truly responsible consumption. Creating products that work well is not enough: they must also respect the environment and improve our quality of life." Launched in May 2019, Loop enables consumers to shop for products in durable packaging that is used, cleaned, refilled and used again, and then fully recyclable after 20 to 100 uses. It enables brands to develop more valuable and distinctive products and packaging and provides consumers with more beautiful, functional and "milk-man model" deposit/return packaging. To date, Loop has enlisted more than 100 brands globally and offers over approximately 400 products.  It is available in the continental United States, the UK and France. By the end of 2021 Loop will also be operating in Canada, Japan and Australia and be available in approximately 1,000 retail stores in five countries.