Dive Brief: Rubicon Global recently announced a partnership with TerraCycle, a New Jersey-based company known for specializing in the recovery of more than 100 hard-to-recycle products.
“The partnership was formed in an effort to fill in each other’s service gaps.” Stevens said if a large retail client that used TerraCycle’s services for specific materials wanted help with more traditional commodities, they would be referred to Rubicon – and vice versa.
Months later, Rubicon contacted TerraCycle about working together and the partnership was born.
Both Rubicon and TerraCycle are run by CEOs in their mid-30s who enjoy talking about waste diversion and have big fundraising plans, so in many ways the partnership is a natural fit.
TerraCycle recently filed plans to raise $25 million, while Rubicon has raised funds on a larger scale – enough to be granted “Unicorn” status – and recently attracted the inevitable scrutiny that comes with it.
Earlier this year, Suez acquired a stake in Rubicon and led a $50 million funding round for the company to begin an ongoing partnership that was recently on display during a joint session at WASTECON. Described as being in the early stages, this partnership could go any number of ways.
Depending on how many new customers come onboard, this partnership could also help support a desire for more domestic processing of recyclables in light of new Chinese trade restrictions.