150 ‘reverse vending’ machines by end of year
A company that rewards people for recycling cans and bottles aims to have 150 "reverse vending" machines in place in Ireland by the end of the year.
People who deposit old cans and bottles in Reuse Reward machines receive points which they can then exchange for prizes including mobile phones and mp3 players.
The company, which is 80% owned by businessmen Des and Fergal Rogers’ investment company Rogers Group Investments, has already placed 55 of these machines and plans to install “another 100 or better”.
Chief executive Randy McKee, told the Sunday Business Post that the firm leases the machines for a “fraction” of what the machines cost his firm.
Instead the company makes its money from the deposited items.
“We are not interested in getting wealthy by leasing the machines. Our up side is that we can use the commodity, the plastic or aluminium that is captured.
“We also have the rights for advertisements on the machines, depending on the venue,” he said.
The Rogers sold their previous business Sterile Technologies, a healthcare waste management firm, for Euro 89m.
© Faversham House Ltd 2022 edie news articles may be copied or forwarded for individual use only. No other reproduction or distribution is permitted without prior written consent.