Closed Loop Partners Backs Olyns for Recycling Infrastructure Growth, Expanding AI-Powered Vending Systems

Closed Loop Partners has announced the closing of a catalytic loan to Olyns to support the technology and media company with its AI-powered reverse vending machines. This move will help accelerate the expansion of Olyns’ consumer recycling infrastructure throughout the United States.

The Closed Loop Infrastructure Group, the private credit arm of Closed Loop Partners, will support the manufacturing of Olyns’ Cubes, which are reverse vending machines powered by AI that collect and sort packaging materials. This includes food-grade plastic, glass, and aluminum. The Cubes accept materials and customers receive cash electronically upon using the machines. Currently, Olyns partners with top retailers and consumer brands to install Cubes in high-traffic areas to make recycling convenient.

Utilizing AI, the Cubes learn and adapt to newly deposited products and can track deposit rates by product and brand. The AI systems of the Cubes also sort materials, depositing them into separate bins, to avoid co-mingling and contamination that plague traditional recycling.

“The material quality of aluminum, PET, and glass beverage containers collected by the Olyns reverse vending machines is some of the highest quality material Ming’s facilities receive from our customers,” said Jeff Donlevy, General Manager of Ming’s Recycling Corp, a current processor of Olyns CRV material.

“Mixed plastic material collected through co-mingled programs often can’t achieve the same quality standards, and significant amounts end up in landfills. Olyns’ technology minimizes co-mingling, and consistently achieves the food-grade quality material that plastic reclaimers want.”

Over the last 10 years, the Closed Loop Infrastructure Group has been handing out flexible loans to projects that live in the circular economy and push sustainability innovation in the U.S. The loan figures to boost the potential of Olyns, fund innovation solutions, and increase collection in areas of the country without return schemes or bottle bills.

“We see immense opportunity to finance rapidly growing technology innovations, alongside large-scale recycling infrastructure, to improve materials sortation and accelerate the circular economy in the U.S. Expanding the types of financing available in the market can help meet the distinct needs of innovators developing new circular solutions. Catalytic capital is a powerful tool, providing the foundation needed to accelerate further growth,” says Jennifer Louie, Managing Director and Head of the Closed Loop Infrastructure Group at Closed Loop Partners.

“Closed Loop Partners’ Infrastructure Group is proud to finance scalable and replicable solutions and provide access to the Closed Loop Partners ecosystem to support their growth. We are thrilled to partner with Olyns, as they disrupt material collection and advance more circular supply chains for valuable packaging materials.”

For Olyns, the next step becomes to scale up its solution and Cube presence. The company will continue to partner with brands to expand to new locations and increase the collection and recovery of materials perpetuating the circular economy.