Ghana - Business creation project

Describe your project or startup in a few words

We Implement an optimum-closed circular bottle-to-bottle cycle to maximize environmental value by creating food-grade post-consumer PET resin. This resin substitutes virgin material, reduces new virgin bottle production, and is used in identical products.

01.01 Describe your project in more detail

Driven to solve the significant negative externalities of mishandled post-consumer PET bottles and combat plastic waste, we implement an optimum-closed circular bottle-to-bottle cycle. Our goal is to maximize the environmental value of PET by creating food-grade post-consumer PET resin, substituting virgin material, reducing new virgin bottle production, and using it in identical products. We aim to achieve triple impact: 1. Social Value: Raise awareness about plastic waste handling, support green initiatives and circular economy systems, create jobs, and improve working conditions for informal waste pickers. 2. Environmental Value: Improve waste handling efficiency, reduce bottles ending in landfills or oceans, and lower environmental impact. 3. Economic Value: Provide a return on investment to shareholders and customers. Our business is built on three pillars: PET collection, PET recycling, and rPET material selling, integrating sustainability into the lifecycle of PET bottles.

01.02 What is the main problem you are trying to solve?

Mishandled post-consumer polyethylene terephthalate (PET) bottles pose significant negative externalities, including pollution of soil and water, with the looming threat of entering oceans. In Ghana alone, plastic waste, predominantly PET bottles, accounts for 17 percent of the total waste output, amounting to 3,825 tons per day and steadily increasing. This unmanaged accumulation not only contributes to environmental degradation but also results in significant economic losses. With over 1.2 million PET bottles potentially generated monthly, the country faces a critical challenge in managing this waste stream. Additionally, the reliance on importing virgin resin for bottle production, costing over 5 million, exacerbates the issue, with millions of bottles ending up in landfills and wasting valuable resources and revenues.

01.03 Tell us the major benefits and/or advantages of using the product/service that your project intends to provide (at least 3).

Circular Economy Approach: Eco-Reverse adopts a circular economy model, wherein PET bottles are continuously recycled into high-quality resin, which is then reintroduced into the market for use in new products. This closed-loop system minimizes waste, reduces the need for virgin materials, and maximizes resource efficiency, presenting a more sustainable alternative to linear production and disposal processes. Food-Grade Quality: By focusing on producing food-grade post-consumer PET resin, Eco-Reverse ensures that recycled materials meet stringent manufacturing quality standards required for use in packaging and other consumer products. This emphasis on quality and safety enhances the marketability. Environmental and Social Impact: By addressing the environmental challenges posed by PET bottle waste and contributing to job creation and improved working conditions for waste collectors, we demonstrate a commitment to creating positive societal change while achieving business success.

01.04 Please describe who exactly your project is aimed at serving. Who are the targeted beneficiaries?

Our project is aimed at serving multiple market segments in Ghana and Europe. The primary target markets are the carbonated drinks and bottled water segments in Ghana. Additionally, we focus on sustainable niche markets such as cosmetics, jewelry, and fashion in European countries like Germany. We aim to exploit the growing Ghanaian PET packaging industry, which is anticipated to grow at a rate of 10% annually. Given that large firms control about 70% of the market share, our venture will focus on these large firms due to their market influence and capacity to set trends for small and medium-sized enterprises. By targeting these key players, we aim to drive significant impact in the PET recycling ecosystem.

01.05 When did you start working on your project?

2020-03-06

01.06 How many other partners are associated with your business venture?

2

01.07 Among the other partners, how many are female?

0

01.08 Please describe the profile of each of the other partners (skills, experience, etc.)

Dr. Samuel Adu Kumi: Skills and Experience: Dr. Adu Kumi has extensive expertise in environmental issues, honed through his leadership in environmental projects at the Ministry of Environment Protection Agency in Ghana. His profound knowledge of plastic waste management provides a strategic advantage in steering the project. Role: As an advisor, he structures the environmental concepts of our projects, ensuring alignment with best practices and regulatory standards. His guidance is pivotal in directing the project towards sustainable and impactful solutions. Reindolf Adu: Skills and Experience: Experienced business developer and project manager with a background in developing businesses and managing high-impact projects across various disciplines in the German industry. Role: Serves as the main project manager, guiding the business with expertise. Also helps build networks and partnerships in Germany, supporting the project's growth and global integration.

01.09 If you have a website, a social media page (Facebook, Instagram, Linkedin…), or app, please provide the link here:

01.10 Which industry best describes your project?

Other: Waste management and Recycling

02.01.01 My project contributes to the No poverty goal

1 - Strongly Disagree

02.01.02 No poverty - Justification

02.02.01 My project contributes to the Zero hunger goal

1 - Strongly Disagree

02.02.02 Zero hunger - Justification

02.03.01 My project contributes to the Good health and well-being goal

4

02.03.02 Good health and well-being - Justification

02.04.01 My project contributes to the Quality education goal

3

02.04.02 Quality education - Justification

02.05.01 My project contributes to the Gender equality goal

3

02.05.02 Gender equality - Justification

02.06.01 My project contributes to the Clean water and sanitation goal

6

02.06.02 Clean water and sanitation - Justification

Reduction of Plastic Pollution: By implementing an optimum-closed circular bottle-to-bottle recycling system, Eco-Reverse significantly reduces the number of PET bottles that end up in landfills and water bodies. This minimizes plastic pollution in soil and water sources, thus protecting water quality and ecosystems. Sustainable Waste Management: Eco-Reverse's approach to recycling PET bottles into high-quality, food-grade resin supports sustainable waste management practices. Proper waste management is essential for preventing contaminants from entering water sources, thereby ensuring cleaner water. Raising Awareness and Education: Eco-Reverse promotes awareness and education on the importance of sustainable waste management and recycling. This helps communities understand the impact of plastic waste on water quality and the importance of maintaining clean water sources.

02.07.01 My project contributes to the Affordable and clean energy goal

1 - Strongly Disagree

02.07.02 Affordable and clean energy - Justification

02.08.01 My project contributes to the Decent work and economic growth

7 - Strongly Agree

02.08.02 Decent work and economic growth - Justification

Job Creation: By establishing a comprehensive PET bottle recycling system, Eco-Reverse creates numerous jobs in PET collection, recycling, and processing. This provides stable employment opportunities for many individuals, including informal waste pickers, enhancing their economic stability. Improved Working Conditions: Eco-Reverse is committed to improving working conditions for informal waste collectors by formalizing their roles, providing necessary safety equipment, and ensuring fair wages. This approach enhances job security and promotes safer, more dignified working environments. Skills Development: Investment in training and development programs for employees, equipping them with valuable skills in sustainable waste management and recycling technologies. This enhances their employability and potential for career advancement.

02.09.01 My project contributes to the Industry innovation and infrastructure

4

02.09.02 Industry innovation and infrastructure - Justification

02.10.01 My project contributes to the Reduced inequalities goal

6

02.10.02 Reduced inequalities - Justification

Job Creation for Marginalized Groups: By creating employment opportunities in PET collection, recycling, and processing, Eco-Reverse provides stable jobs for individuals from marginalized communities, including informal waste pickers. This helps uplift these groups economically and socially. Fair Wages and Improved Working Conditions: Eco-Reverse ensures that all employees receive fair wages and work in safe, dignified conditions. This focus on equity helps reduce income inequality and improves the quality of life for workers who are often at the lower end of the economic spectrum. Inclusive Business Practices: Eco-Reverse promotes inclusive business practices by working with diverse suppliers and partners. This approach ensures that small and medium enterprises, often run by underrepresented groups, have access to economic opportunities within the recycling value chain.

02.11.01 My project contributes to the Sustainable cities and communities goal

4

02.11.02 Sustainable cities and communities - Justification

02.12.01 My project contributes to the Responsible consumption and production goal

7 - Strongly Agree

02.12.02 Responsible consumption and production - Justification

Circular Economy Model: Eco-Reverse implements a closed-loop, circular economy model where PET bottles are continuously recycled into high-quality, food-grade resin. This process ensures that materials are reused rather than discarded, significantly reducing waste and promoting sustainable consumption patterns. Reducing Virgin Material Use: By producing food-grade post-consumer PET resin, Eco-Reverse substitutes virgin materials with recycled alternatives. This reduces the demand for new raw materials, lowering the environmental footprint of production and conserving natural resources. Minimizing Waste: The closed-loop system minimizes waste by ensuring that PET bottles are collected, recycled, and reintroduced into the market. This approach reduces the number of bottles that end up in landfills or the environment, promoting more sustainable production patterns.

02.13.01 My project contributes to the Climate action goal

7 - Strongly Agree

02.13.02 Climate action - Justification

Reducing Greenhouse Gas Emissions: By recycling PET bottles and producing food-grade post-consumer PET resin, Eco-Reverse significantly lowers the need for virgin PET production. Manufacturing virgin PET is energy-intensive and emits substantial greenhouse gases. Recycling reduces these emissions, thereby mitigating climate change. Energy Efficiency: The recycling process used by Eco-Reverse is more energy-efficient compared to producing new PET from raw materials. This reduction in energy consumption contributes to lower carbon emissions, supporting global climate action efforts. Green Supply Chain: Eco-Reverse ensures that its supply chain practices are environmentally friendly, from the collection of post-consumer PET bottles to the distribution of recycled resin. This commitment to a green supply chain helps reduce the carbon footprint of its operations.

02.14.01 My project contributes to the Life below water goal

6

02.14.02 Life below water - Justification

Reducing Marine Pollution: By recycling PET bottles and other plastics, Eco-Reverse prevents plastic waste from reaching oceans and seas. This significantly reduces marine pollution, which is crucial for protecting marine life from the harmful effects of plastic debris and microplastics. Promoting Sustainable Practices: We implement sustainable waste management practices that reduce the overall plastic footprint. By educating communities and businesses about the importance of recycling and the impact of plastic waste on marine environments, we foster a culture of sustainability. Collaborating with Coastal Communities: We work with coastal communities to establish effective waste collection and recycling programs. This collaboration helps reduce plastic pollution at the source, directly benefiting the health of local marine environments.

02.15.01 My project contributes to the Life on land goal

7 - Strongly Agree

02.15.02 Life on land - Justification

Minimizing Landfill Waste: By recycling PET bottles, Eco-Reverse diverts plastic waste from landfills. This reduces the volume of waste in landfills, minimizing land usage and preventing soil contamination. Preventing Litter: Collecting and recycling PET bottles prevents them from littering natural environments, reducing pollution and maintaining cleaner landscapes through the activities of informal waste workers patnered with eco-reverse. Soil Protection: Plastic waste in landfills can break down into microplastics, contaminating soil and affecting plant growth. Recycling helps to avoid this contamination, preserving soil health and increasing food production and space for settlement Protecting Biodiversity: Reducing plastic waste in natural habitats helps protect wildlife and biodiversity. Terrestrial animals are less likely to ingest or become entangled in plastic waste, and ecosystems remain more balanced and healthy.

02.16.01 My project contributes to the Peace justice and strong institutions goal

4

02.16.02 Peace justice and strong institutions - Justification

02.17.01 My project contributes to the Partnerships for the goal

6

02.17.02 Partnerships for the goal - Justification

Engaging Informal Waste Pickers: Eco-Reverse partners with informal waste pickers, providing them with opportunities to participate in the recycling process. This not only empowers these communities by offering economic benefits and dignifying their work but also enhances the efficiency and reach of our recycling initiatives. Partnering with Corporations and Industry Stakeholders: We engage with corporations to promote the concept of Extended Producer Responsibility, encouraging them to take accountability for the entire lifecycle of their products, including post-consumer waste. Policy Advocacy: Eco-Reverse collaborates with local governments to advocate for policies that support recycling and waste management. These partnerships help to create a conducive environment for sustainable practices. International Cooperation: Eco-Reverse participates in global networks and alliances focused on sustainable development and environmental protection.

05.01 There are a large number of customers who already use a product/service very similar to the product/service we envision creating.

7 - Strongly Agree

05.02 The product/service we envision creating represents an entirely new type of product/service.

1 - Strongly Disagree

05.03 The product/service we envision creating could be described as a new technology.

2

05.04 The product/service we envision creating is an improvement on an existing product or service.

5

05.05 The product/service we envision creating could be described as an extension of a range of products or services.

6

05.06 The product/service we envision creating responds to a demand or need that has not been satisfied by other products/services.

6

05.07 The product/service we envision creating is a new version of an old product/service.

5

05.08 Justification

Improvement on an Existing Product/Service: Our advanced PET bottle recycling process enhances efficiency and effectiveness compared to traditional methods, resulting in higher quality recycled materials and reduced environmental impact. Extension of a Range of Products/Services: By incorporating cutting-edge recycling technologies, Eco-Reverse expands the range of recycled products and services, offering innovative solutions such as recycled PET materials for various industries, from packaging to cosmetics. Responding to Unmet Demand: There is a growing need for sustainable waste management solutions that traditional services have not fully addressed. Eco-Reverse meets this demand by providing comprehensive recycling services that effectively divert plastic waste from landfills and natural environments.

05.09 Who are your main potential competitors and what makes you stand out from them?

Closed-Loop Recycling System: While competitors operate on open-loop systems, Eco-Reverse pioneers a closed-loop system. This means we recycle PET bottles back into food-grade bottle-to-bottle recycled content, which can be blended with virgin resin or used independently by producers. This approach supports a circular economy model, minimizing waste and reducing environmental impact. Value Addition Across the Lifecycle: Eco-Reverse adds value at every stage of the bottle's lifecycle. From collection through advanced sorting technologies to producing high-quality recycled materials, we ensure that each step maximizes sustainability and economic benefit. Competitors typically focus on specific stages or outputs, whereas we integrate comprehensive value addition. First-mover Advantage: As the first Ghanaian company specializing in food-grade bottle-to-bottle recycling, Eco-Reverse leads in innovation and sustainability practices.

10.06 Are you initiating actions within your community to promote the role of female entrepreneurs?

N/A