Building a Circular Path Forward - Closed Loop Partners 2020 Impact Report
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Building a Circular Path Forward Closed Loop Partners 2020 Impact Report
Table of Contents
CEO Foreword 2
2020 Highlights 3
Overview 6
Investment Firm 13
Closed Loop Ventures Group
Closed Loop Infrastructure Fund
Closed Loop Beverage Fund
Closed Loop Leadership Fund
Innovation Center 38
The Center for the Circular Economy
Impact Assessment Methodology 53
Appendix 56
Closed Loop Ventures Group Portfolio
Closed Loop Infrastructure Fund Portfolio
Closed Loop Beverage Fund Portfolio
Closed Loop Leadership Fund Portfolio
CLOSED LOOP PARTNERS 2020 IMPACT REPORT 2
CEO Foreword
Since our founding in 2014, Closed Loop Amidst the challenges that all parts of the world
Partners has worked to build the circular shared in 2020, we continue to see four driving forces
advance the circular economy. As we move into the
economy, an economic model focused on
next evolution of product design and manufacturing,
a profitable and sustainable future. The the circular economy will provide us the opportunity
circular economy is the most significant to benefit from the innovations of past revolutions in
restructuring of global commerce since the manufacturing, while also maintaining our personal,
industrial revolution. family and societal health. Transparency will be at the
core of production, which will lead to the equitable
practice of ensuring that manufacturers and brands
To date, our asset management team has made
will profit or lose based on their ability to generate
49 investments firmwide and our Center for
holistic value––that includes their shareholders,
the Circular Economy has formed a number of
customers and the communities in which they
industry-leading collaborations.
manufacture and sell products and services.
In 2020, we welcomed a number of new
Those that profited in the previous era will be
investors, including Microsoft, and additional
consigned to their rightful place: the waste bin of
commitments from existing investors such as
history. Those that build value from circular business
Nestlé, strengthening our ecosystem of corporate,
practices, aligned with their shareholders, customers
institutional and family office investors that
and communities, will build lasting value in a world in
includes leaders such as Nuveen, Unilever and
which building a profitable business and preserving
others. Additionally, our Center for the Circular
our health and environment are synonymous. In
Economy accelerated its innovative, project-based
doing so, we can repudiate the gospel of waste and
work with the launch of the Consortium to
instead champion the ethic of circular consumption.
Reinvent the Retail Bag in July, with Founding
Partners CVS Health, Target and Walmart, the
release of three leading research reports covering
Thank you,
market drivers and the latest material innovations
Ron Gonen
for a circular economy, and the launch of an
CEO, Closed Loop Partners
interactive data map revealing plastic material
flows across North America.
CLOSED LOOP PARTNERS 2020 IMPACT REPORT 3
A Snapshot of Closed Loop Partners’ Investment Strategies
OVERVIEW
Our investments
2.3M contribute to the
following UN Sustainable
tons of materials Development Goals:
49 kept in circulation
to date
investments
to date*
5.3M
tons of greenhouse
gas emissions (CO2e)
Global avoided to date
footprint of
companies
generating
impact
4 CONTINENTS,
6 COUNTRIES, AND
24 U.S. STATES
*Cumulative numbers to date (through the third quarter of 2020)
CLOSED LOOP PARTNERS 2020 IMPACT REPORT 4
Action to Address COVID-19 Challenges
CLOSED LOOP PARTNERS OUR PORTFOLIO COMPANIES
Support Local Organizations Procure Critical Supplies
Provided funding to the Sanitation Convened our portfolio of recycling facilities 3,849
virtually to better understand their needs Personal Protective Equipment (PPE)
Foundation (formerly the Foundation for gowns and 2,573 masks made locally by The
New York’s Strongest) through the Closed and support the procurement of critical
Renewal Workshop to distribute to frontline
Loop Foundation, to support the DSNY supplies, especially during periods of
healthcare workers
COVID-19 Emergency Fund resource scarcity
Protect On-the-Ground Workers Provide Loan Flexibility £18,000
Secured no-contact, infrared The Closed Loop Infrastructure Fund Donated by DAI to the UK’s National Health
restructured 6 loans, building in flexibility Service (NHS), partially from their “Buy a
thermometers for front-line workers,
during a challenging period for businesses Pair, Donate a Pair” program, in addition to
made possible by a donation from our
750 masks donated through their Masks for
corporate partner, Amazon Heroes program and £4,000 raised for NHS
Charities Together
Sustain Composting Keep Essential Businesses Open
Funded 3 GrowNYC compost drop-off sites Throughout the COVID-19 pandemic, none
in New York City, bridging gaps in funding of our recycling facility portfolio companies 140,000+
left by recent City budget cuts caused by closed––serving as essential businesses for Individual masks distributed by For Days,
communities across the U.S. including over 40,000 mask donations
COVID-19; one site collected 6,109 lbs of food
scraps in one day, beating previous records
for that site by 22%
CLOSED LOOP PARTNERS 2020 IMPACT REPORT 5
Advancements in Our Impact Management System
Metrics used in Closed Loop Partners’ SDGs). We work with the Impact Management integrated reporting, common language
funds are defined by the IRIS+ Catalog Project to classify all of the firm’s asset classes. and measurable & transparent outcomes
of Metrics, outlined by the Global Impact throughout the lifecycle of each investment.
Investment Network (GIIN). We believe that best practices in impact
measurement and management are achieved With every investment, we continue to evolve
With every investment, we contribute to the when industry leaders work in partnership. and advance our impact management
Global Sustainable Development Goals (UN Working together, we strive towards system.
Closed Loop Partners classified its investment
Closed Loop Partners renewed Closed Loop Partners engaged BlueMark,
strategies through the IMP+ACT Alliance’s
its B Corp Certification, the only a Tideline company, to independently
Impact Classification System (ICS), which
certification that measures a company’s verify the alignment of Closed Loop
creates fund profiles to help investors assess,
entire social and environmental Partners’ impact management practices
compare and manage impact contribution
performance. The B Impact Assessment with the Operating Principles for Impact
throughout their portfolios. As part of this
evaluates how a company’s operations Management, an industry standard
work, Closed Loop Partners classifies our
and business model impact workers, for integrating impact throughout the
funds according to the Impact Management
community, environment and investment lifecycle. BlueMark’s assessment
Project (IMP)’s impact classes, which requires
customers. findings cover both areas of strength and
integrated analysis of qualitative, quantitative,
areas for improvement, as reflected in the
ESG and outcome-based evaluation within the
Verifier Statement.
investment process of each strategy.
CLOSED LOOP PARTNERS 2020 IMPACT REPORT 6
Closed Loop
Partners
We are a hybrid investment firm and innovation center,
with an extensive network of Fortune 500 corporate
investors, industry experts and impact partners.
We invest in the circular economy, a new economic
model focused on a profitable and sustainable future.
CLOSED LOOP PARTNERS 2020 IMPACT REPORT 7
Our Scale and Reach
Corporate
Network
Investors include the world’s largest
retailers, technology companies and
consumer goods companies, as well as
family offices, foundations and institutions.
Track
Record
Completed 49 investments in the
circular economy space since 2015.
Industry
Expertise International
Management team comprised of Impact
industry CEOs, CFOs, investors and
former heads of government agencies. Portfolio Companies
Areas Serviced
CLOSED LOOP PARTNERS 2020 IMPACT REPORT 8
Our Hybrid Business Model
We provide an arc of capital that accelerates the growth of early stage companies
through established companies, in tandem with an innovation center that
catalyzes circular solutions. Our business verticals create a differentiated platform
fostering synergies to scale the circular economy.
INNOVATION CENTER INVESTMENT FIRM
Center for the Circular
Economy
Executing research, analysis
and pre-competitive
collaborations to accelerate
the transition to a circular
economy in which materials
are shared, re-used and
continuously cycled.
CLOSED LOOP
CLOSED LOOP Leadership Fund
CLOSED LOOP Infrastructure Fund Acquiring companies
Fashion Fund CLOSED LOOP along the value chain to
CLOSED LOOP Investing capital to Beverage Fund build circular supply
Venture Fund innovative companies that Financing recycling chains.
CLOSED LOOP deliver the scaled solutions and circular economy
Venture Fund II necessary for a more infrastructure across
Deploying early-stage capital circular future for the global North America.
into companies developing fashion industry.
breakthrough solutions for the
circular economy.
INNOVATION & RESEARCH VENTURE CAPITAL GROWTH EQUITY PROJECT-BASED FINANCE PRIVATE EQUITY
CLOSED LOOP PARTNERS 2020 IMPACT REPORT 9
The
Circular Economy
Our investments in the circular economy align capitalism with positive
environmental and social outcomes by reducing waste and greenhouse
gas emissions via materials innovation, advanced recycling technologies,
supply chain optimization and keeping materials in play.CLOSED LOOP PARTNERS 2020 IMPACT REPORT 10
What is the Circular Economy
LINEAR ECONOMY
The circular economy is the most significant
restructuring of global commerce since the industrial
revolution. It is an overhaul of how products are
designed, manufactured, sold, refurbished and
Extract Manufacture Consume Dispose
recycled into new products. It is a framework for global
corporations and start ups alike to reduce costs, increase
efficiency and protect the environment we share.
The circular economy
CIRCULAR ECONOMY
presents a
$4.5 trillion
opportunity
by 2030 globally.
ACCENTURE STRATEGY, WASTE TO WEALTH;
CREATING ADVANTAGE IN A CIRCULAR ECONOMYCLOSED LOOP PARTNERS 2020 IMPACT REPORT 11
How the Circular Economy Addresses Climate Change
Targets reduction of 66% of GHG Provides a holistic framework to Mitigates risk by embedding
emissions from materials address the complex challenge resilience into supply chains
An estimated two thirds of Tackling climate change goes The circular economy incorporates
greenhouse gas emissions are beyond rethinking our energy a broad range of stakeholders––
released during the extraction, systems. While the circular economy people, planet and business.
processing and manufacturing of is powered by renewable energy, This stakeholder engagement
goods. In a circular economy, we
1
it also focuses on reworking the enhances communication
rethink how we produce goods fundamental flow of materials in our channels, creates transparency
through innovative design and economy. This touches every sector, and builds resiliency to quickly
reuse, continuously cycling materials industry and person, cutting across adapt to changing circumstances.
and reducing greenhouse gas all parts of the economy, therefore
emissions. The circular economy creating a coherent and holistic
is tied to decarbonization and framework that can help to achieve
dematerialization. complex climate goals.
“
“
The circular economy is a direct response to the urgent challenges and growing risks of a rapidly
changing climate. By decarbonizing and dematerializing our supply chains, circularity rethinks
material flows with the planet in mind. It is now possible to achieve a profitable economic system
that realizes long-term growth, without compromising our environment.”
Marisa Drew, Chief Sustainability Officer & Global Head Sustainability Strategy, Advisory and Finance at Credit SuisseCLOSED LOOP PARTNERS 2020 IMPACT REPORT 12
How Closed Loop Partners Works Across Four Key Sectors to Scale the Circular Economy
Plastics & Packaging Fashion
Replacing 20% of single-use plastic packaging with
Globally, customers miss out on USD 460 billion of
reusable alternatives globally offers an economic
value each year by throwing away clothes that they
opportunity worth at least USD 10 billion, while
could continue to wear.3
saving about 6 million tonnes of material.
2
Technology Food & Agriculture
By focusing on supply chain improvements, consumer Roughly USD 680 billion in industrialized countries
companies can reduce 90% of their impact on air, and USD 310 billion in developing countries can be
land, water, biodiversity and geological resources.
4
saved by mitigating food losses and waste. 5CLOSED LOOP PARTNERS 2020 IMPACT REPORT 13
Investment Firm
Closed Loop Partners’ platform represents an arc of capital
that accelerates the growth of early stage companies through
to established companies. Our business verticals build upon
one another, bridging gaps and fostering synergies to scale
the circular economy.Venture Capital Project-Based Finance Private Equity
Innovation Center CLOSED LOOP PARTNERS 2020 IMPACT REPORT 14
Closed Loop
Ventures Group
The Closed Loop Ventures Group invests in early-stage
companies developing breakthrough solutions for the circular
economy. Our portfolio includes companies developing leading
innovations in material science, robotics, agritech, sustainable
consumer products and advanced technologies.CLOSED LOOP PARTNERS 2020 IMPACT REPORT 15
Closed Loop Ventures Group
Snapshot
• The Closed Loop Ventures Group completed a second close on Closed Loop
Venture Fund II.
19 • The Closed Loop Ventures Group (inclusive of Fund I and Fund II) is led by a team
portfolio companies with decades of operating experience and financial expertise, leveraging the
entire Closed Loop Partners platform.
• The investment strategy finds opportunities to fill gaps and improve upon
2,500+ inefficiencies in linear supply chains through innovative materials, new
investable pipeline business models––such as reuse systems––and enabling technologies that build
opportunities transparency into global value chains.
reviewed since 2017 • To date, Closed Loop Venture Fund II has begun deploying capital, and expects
to build a diversified and high performing portfolio to follow on the success of
Closed Loop Venture Fund I.CLOSED LOOP PARTNERS 2020 IMPACT REPORT 16
Closed Loop Ventures Group
Portfolio Companies
*
**
*** ***
**
*Algramo’s expansion into North America is led by Algramo US, a separate legal entity
**Investments made outside the reporting period illustrated here to show the full expanse of CLVG investments
***Closed Loop Partners is no longer an investor or lenderCLOSED LOOP PARTNERS 2020 IMPACT REPORT 17
Closed Loop Ventures Group
Investment Focus
The Closed Loop Ventures Group invests in innovative technologies and business models across the verticals of
plastics & packaging, food & agriculture, fashion and supply chain optimization technology.
SOCIAL AND ENVIRONMENTAL IMPACT OF INVESTMENTS TO DATE PERCENTAGE OF PORTFOLIO BY SECTOR PER
PLASTICS & NUMBER OF COMPANIES INVESTED TO DATE
PACKAGING
GHG Emissions Waste Reduced Water Saved Jobs
Avoided (MTs of CO2e) (Tons) (M Gallons) Created
FOOD & PLASTICS AND FOOD &
AGRICULTURE PACKAGING AGRICULTURE
16% 26%
380,525 305,078 545,000,000 344
FASHION
12%
41%
SUPPLY CHAIN 49%
OPTIMIZATION 59% 33%
TECHNOLOGY
3%
2% SUPPLY CHAIN FASHION
26% OPTIMIZATION
TECHNOLOGY 37%
21%
56%
49% 41%
30% 47% 16%
female-led BIPOC-ledCLOSED LOOP PARTNERS 2020 IMPACT REPORT 18
Closed Loop Ventures Group
Impact Metrics
Through the Closed Loop Ventures Group, we contribute to the development of the following Sustainable Development Goals outlined by the
United Nations Development Programme, and align with the following IRIS+ metrics outlined by the Global Impact Investing Network.
ACT TO AVOID HARM BENEFIT STAKEHOLDERS CONTRIBUTE TO SOLUTIONS
KEY METRICS FOR THE VENTURES GROUP
Greenhouse Gas Emissions Avoided (IRIS PI2764)
Metric tons of CO2e estimated emissions reduced or avoided,
using data from the most recent version of U.S. EPA Waste
Reduction Model (WARM) where applicable.
Tons of Materials Recovered and Returned (IRIS OI7920)
Tons of material diverted away from landfill or reduced by the
organization through substitution, recycling or recovery.
Water Saved (IRIS PD5786)
Gallons of water savings from products sold, versus a business-as-
usual alternative scenario.
Jobs Created (IRIS PI3687)
Total active full-time positions created in the portfolio company.CLOSED LOOP PARTNERS 2020 IMPACT REPORT 19
Closed Loop Ventures Group SECTOR
Case Study:
PACKAGING
Algramo
2,500
Algramo offers a complete refill and Stores in Chile served to date, potentially
reuse system, solving economic and reaching 400,000 end customers
environmental issues through its vending
machines that dispense staple products,
1.7M+ liters
such as household cleaners, “by the
Sold in 2020
gram.”
Their smart reusable packaging 6
minimizes the amount of waste left Pilot locations selected for retail
behind from single-use plastic packaging expansion to date
in landfills and oceans. At the same
time, Algramo’s refill system addresses
the poverty tax by allowing families to
3 Pilots Launched
buy the exact quantity of products they
in the U.S.
In Brooklyn and Manhattan, in
need at bulk prices. Algramo not only
collaboration with Closed Loop
makes the sustainable option the most
Partners
affordable alternative, but also the more
equitable and convenient option. In 2020,
Algramo expanded its footprint into
North America––proving the viability of
the solution across geographic contexts.CLOSED LOOP PARTNERS 2020 IMPACT REPORT 20
Closed Loop Ventures Group SECTOR
Case Study:
TECHNOLOGY
TradeLanes
$4,000,000
TradeLanes digitizes trade execution for Raised in seed round funding to digitize
container shippers to make global trade global trade
faster, easier and more profitable. Initially,
the company is focused on commodities,
including meats, grains, dairy, paper,
816,947 metric tonnes
Shipped in 2020
plastics and metals.
In 2020, when digitization and automation
Grain, Feed and Dairy
became critical components to managing
Shipped, including soybean, corn, wheat
business amidst a rapidly changing
and rice (grain), meal and ddgs (feed)
environment, TradeLanes’ solution to
and butter, cheese, whey protein, lactose
navigating the ever-changing variables of
and whey isolate (dairy)
the global trade system proved not only its
efficacy––but its relevance. As global trade
grows more complex, it is critical not only 80%
to streamline the delivery of our goods for Administrative costs of a trade targeted
efficiency, but also to mitigate the waste to be reduced through the technology
produced in the process of having them
delivered.CLOSED LOOP PARTNERS 2020 IMPACT REPORT 21
Closed Loop Ventures Group SECTOR
Case Study:
FASHION
For Days
50,000+ lbs
For Days is a direct-to-consumer apparel Clothing diverted from landfill through
brand, operating with a fully circular over 8,000 Take Back Bags sold in 2020
business model. Elevated basics, with
100% organic cotton feedstock, are
produced in LA, and designed for 94,582 tons of CO2e
recovery with a mail-back program. GHG emissions avoided to date
In 2020, For Days saw improvements in
69,432 lbs
environmental impact across the board––
Total material diverted from landfill
with more greenhouse gas emissions
to date
avoided, more material diverted from
landfill and more water saved. Circular
and sustainable clothing, such as the 13,118,650 gallons
pieces created by For Days, build more Water saved from products sold to date
resilient systems from the ground up––
relying less on new materials extracted
from the environment, and instead
creating a self-sustaining system that
maximizes the valuable resources already
on the market.CLOSED LOOP PARTNERS 2020 IMPACT REPORT 22
Closed Loop Ventures Group SECTOR
Case Study:
FOOD
HomeBiogas
10,000+
HomeBiogas is a world leader in developing HomeBiogas systems
groundbreaking, simple-to-use biogas systems, sold around the world to date
enabling people and businesses around the
globe to turn their own organic waste into 591,000+
renewable energy and liquid fertilizer on-site. HomeBiogas systems projected to sell
HomeBiogas serves thousands of households, around the world through 2025
farmers, businesses, underserved communities
and those seeking a more sustainable way 20+
of living. The company has also improved Distributors around the world to date
the circularity of the products themselves—
lengthening the shelf life to over 15 years, and
100+
making the materials used for the digester
Countries that use HomeBiogas systems to date
100% recyclable. With the recent launch of the
HomeBiogas BioToilet, the company has created
an affordable, efficient option for managing 3 Billion
human waste in communities that lack sanitation People worldwide cook using charcoal and other polluting
infrastructure. Their collection of prefabricated, fuels6 and could benefit from HomeBiogas’ clean energy
fully off-grid, patent-based systems offer modular
options to suit each of their customers’ needs, 2.5 Billion
empowering them to live a healthier, more People worldwide lack access to basic sanitation
efficient, resilient and sustainable life. infrastructure7 and could benefit from HomeBiogas’ BioToiletCLOSED LOOP PARTNERS 2020 IMPACT REPORT 23
Closed Loop Ventures Group
Sector Spotlight: Food & Agriculture
TRANSPORT
The Closed
Loop Ventures GROW RETAIL
Group invests
in companies
across the food *
*
and agriculture
sector,
strengthening
every stage of
the value chain.
PROCESS CONSUME
*Investments made outside the reporting period illustrated COLLECT
here to show the full expanse of investments in the sectorVenture Capital Project-Based Finance Private Equity
Innovation Center CLOSED LOOP PARTNERS 2020 IMPACT REPORT 24
Closed Loop
Infrastructure
Fund
Established in 2014 and funded by the world’s largest retailer
and consumer goods companies, the Closed Loop Infrastructure
Fund finances recycling and circular economy infrastructure.CLOSED LOOP PARTNERS 2020 IMPACT REPORT 25
Closed Loop Infrastructure Fund
Investors
“The plastics value chain needs to be rewired for circularity,
and innovation and infrastructure investments are needed
to seriously address the plastic waste issue in the United
States. We are proud to be a lead investor in the Closed Loop
Infrastructure Fund to continue to advance waste reduction
solutions in communities across the country.”
– Chelsea Scantlan, Senior Program Officer, The Walmart FoundationCLOSED LOOP PARTNERS 2020 IMPACT REPORT 26
Closed Loop Infrastructure Fund
Investment Focus
The Closed Loop Infrastucture Fund invests in recycling infrastructure to return
valuable recycled materials to supply chains.
The Fund provides project-based finance to private companies and
TONS RECOVERED AND municipalities, creating economic value for cities by reducing landfill DISTRIBUTION BETWEEN MUNICIPALITIES
RETURNED TO SUPPLY expenses and increasing revenue generated from recycled commodity AND PRIVATE COMPANIES BY $ INVESTED
CHAINS TO DATE sales. The Fund has deployed $58M into 30 projects, with an additional TO DATE
$222M contributed by co-investors.
Glass 425,537
Old Corrugated
Cardboard 400,485
Mixed MUNICIPAL PRIVATE
Paper 370,413
40% 60%
Polyethylene
terephthalate
91,213
Newspaper 78,996
High-density
polyethylene 33,286
Polypropylene 19,954
Aluminum 18,345 11 19
Low-density/ municipal private
linear density 12,151 deals deals
polyethyleneCLOSED LOOP PARTNERS 2020 IMPACT REPORT 27
Closed Loop Infrastructure Fund
By the Numbers
FOR EVERY DOLLAR INVESTED TO DATE
GHG Avoided Tons Recovered Households Direct Economic Co-
(MTs of CO2e) & Returned Represented Benefit to Investment
Municipalities
$4
CO-INVESTMENT
FROM PRIVATE AND
PUBLIC SOURCES
EXPECTED
36M 18M 11M $50M $400M
IMPACT IN 2030
(FULL FUND
63 lbs
DEPLOYMENT) $1 = OF RECYCLABLES
RECOVERED AND/
OR RETURNED TO
Invested SUPPLY CHAINS
$222M
150 lbs
IMPACT
TO DATE 4M OF CO2E GHG
$16M EMISSIONS
AVOIDED
4.3M 1.8MCLOSED LOOP PARTNERS 2020 IMPACT REPORT 28
Closed Loop Infrastructure Fund
Impact Metrics
Through the Closed Loop Infrastructure Fund, we contribute to the development of the following Sustainable Development Goals outlined by
the United Nations Development Programme, and align with the following IRIS+ metrics outlined by the Global Impact Investing Network.
ACT TO AVOID BENEFIT CONTRIBUTE
HARM STAKEHOLDERS TO SOLUTIONS
KEY METRICS FOR THE INFRASTRUCTURE FUND
Co-Investment (IRIS FP8293)
Total capital from public and private sources invested toward the borrower’s project, catalyzed by
Closed Loop Partners’ investment.
Direct Economic Benefit to Municipalities (IRIS PI1748)
Cumulative revenue and savings that municipalities achieved through avoided landfill costs,
optimized hauling routes and efficiency gains.
Households Represented (IRIS PI2476)
For collection and sortation projects, the households directly reached by the project; for processing
and end-market manufacturing projects, the number of households represented by calculating
the total weight of material diverted or reduced divided by the weight of the same material
generated by a household, on average, in a year.
Tons of Materials Recovered and Returned (IRIS OI2535)
The impacted tons of materials coming through the borrower’s operational system.
Greenhouse Gas Emissions Avoided (IRIS PI2764)
Metric tons of CO2e estimated emissions reduced or avoided as a funded project or company,
based on tons of material recovered, using data from the most recent version of U.S. EPA Waste
Reduction Model (WARM).CLOSED LOOP PARTNERS 2020 IMPACT REPORT 29
Closed Loop Infrastructure Fund
Case Study:
City of Phoenix
$3,000,000
Over the last 30 years, the population Loan provided by the Closed Loop
of the City of Phoenix has grown from Infrastructure Fund
900,000 residents to 1.6 million––making
it the fifth largest metropolis in the PET, HDPE, PP* Plastic
United States, and resulting in mounting and Fiber
recyclables. Waste streams impacted by improved
capacity and capture
With a loan provided through the Closed
Loop Infrastructure Fund, the City of
Phoenix is working to upgrade its North $400,000+
Gateway recycling facility to enable Revenue generated in May 2020
greater diversion of plastics from landfill
and to improve the quality of baled paper
produced.
18%
Increase in tons of residential
recycled materials collected during
the COVID-19 pandemic
*Polyethylene terephthalate, High-density polyethylene and PolypropyleneCLOSED LOOP PARTNERS 2020 IMPACT REPORT 30
Closed Loop Infrastructure Fund
Case Study:
PureCycle
Technologies $1,200,000,000
Enterprise value; PureCycle Technologies
will go public via a merger with Roth CH
PureCycle Technologies’ patented Acquisition I
recycling process, developed by Procter
& Gamble and licensed to PureCycle
Technologies, separates color, odor and $250,000,000
any other contaminants from plastic Bond raised to begin construction on
waste feedstock to transform it into Phase II Industrial Line in Ironton, Ohio
virgin-like resin. PureCycle fully closes
the loop on the reuse of recycled plastics
while making recycled plastics more 119,000,000 lbs
accessible at scale to companies desiring Expected pounds of polypropylene
to use a sustainable, recycled resin. processed during the second phase of
plant development
In 2020, Roth CH Acquisition I Co.
announced the acquisition of PureCycle
Technologies, to accelerate plastics 107,000,000 lbs
recycling through the “only patented Expected pounds of virgin-like
solvent-based purification recycling polypropylene produced each year
technology for restoring waste by their plant
polypropylene into virgin-like resin.”
*In October 2020, PureCycle Technologies fully paid off its loan from Closed Loop Partners, thus exiting the Closed Loop Infrastructure Fund’s portfolio as a
borrower. The Closed Loop Partners team, however, continues engaging with the PureCycle Technologies team as they continue growing their operations.Venture Capital Project-Based Finance Private Equity
Innovation Center CLOSED LOOP PARTNERS 2020 IMPACT REPORT 31
Closed Loop
Beverage Fund
The Closed Loop Beverage Fund, in partnership with the
American Beverage Association, seeks to improve the collection
and the recycling of beverage containers. The goal is to enable
the beverage industry to operate within a fully circular supply
chain.CLOSED LOOP PARTNERS 2020 IMPACT REPORT 32
Closed Loop Beverage Fund
Fund at a Glance
$50 million fund focused on “Our investment in Ann Arbor will help restore
building circular economy the region’s critical recycling infrastructure,
infrastructure for the beverage create jobs and showcase effective strategies
industry to build a more circular economy. This exciting
new project is one in a series of investments
the beverage industry is making alongside our
23 million Americans in environmental partners and community leaders
9 million households will under the Every Bottle Back initiative to boost
be directly impacted in key the collection of our 100% recyclable bottles and
regions of the country cans so they can be remade, as intended.”
- Katherine Lugar, President and CEO, American Beverage Association
300+ million pounds of PET
bottles recycled rather than
landfilled over ten years.
INVESTORS INCLUDE PARTNERS
Equivalent of avoiding
production of approximately
10 billion PET bottlesCLOSED LOOP PARTNERS 2020 IMPACT REPORT 33
Closed Loop Beverage Fund
Impact Story:
Recycle Ann Arbor
The City of Ann Arbor, through a loan
provided to Recycle Ann Arbor by
Closed Loop Partners and the American
Beverage Association, began rebuilding
a zero-waste MRF in August of 2020, to
strengthen the resilience of the city’s
recycling system. The finalization of
project approvals by the Ann Arbor City “Local processing of recyclables brings a range of
Council during the COVID-19 pandemic environmental, economic, and social benefits, creating a
underscores the prioritization of recycling
regional hub that will allow recycling to flourish. Recycle
infrastructure amidst challenging times,
recognizing the importance of keeping Ann Arbor’s project to rebuild the materials recovery facility
valuable, local materials in play. Recycling in the area establishes an amazing partnership with the
helps build resilient manufacturing community, local banks, industry funders, government
supply chains, protect the environment
agencies, non-profits, and manufacturers. Recycle Ann Arbor
and create a thriving community. This
MRF rebuild is a milestone in bringing looks forward to bringing its 42 years of experience as a
control of recycling operations back into mission-based community recycler to the collaboration.”
local hands, brought about by grassroots
management. – Bryan Ukena, CEO of Recycle Ann ArborVenture Capital Project Finance Private Equity Innovation Center CLOSED LOOP PARTNERS 2020 IMPACT REPORT 34 Closed Loop Leadership Fund The Closed Loop Leadership Fund acquires best-in-class, private companies that it can scale, utilizing Closed Loop Partners’ investor network and operational expertise. Investments span the sectors of recycling infrastructure, packaging, logistics, technology and food & agriculture.
CLOSED LOOP PARTNERS 2020 IMPACT REPORT 35
Closed Loop Leadership Fund
Fund at a Glance
• Closed Loop Partners is aiming to raise a $300 million middle-market private
equity buyout fund, the Closed Loop Leadership Fund, focused on acquiring
and scaling businesses that are fundamental to keeping plastics and
$81M packaging, food and organics, technology and fashion textiles out of landfills
and within a circular system.
enterprise value
in transactions • The Closed Loop Leadership Fund is led by a team with decades of operating
completed experience and financial expertise, leveraging the entire Closed Loop
Partners platform.
$400M+ • The investment strategy capitalizes on the market opportunity created by a
active investable fragmented recycling industry in North America, combined with tailwinds
pipeline of corporate customer demand and an identified capital transition to more
resilient supply chains and resource efficiency.
• To date, the Closed Loop Leadership Fund has closed on $83 million,
anchored by an institutional investor and corporations including Nestlé and
Microsoft. The Fund has completed its first two transactions thus far, and has
an investable pipeline of over $400 million.CLOSED LOOP PARTNERS 2020 IMPACT REPORT 36
Closed Loop Leadership Fund
Impact Metrics
Through the Closed Loop Leadership Fund, we contribute to the development of the following Sustainable Development Goals outlined by the
United Nations Development Programme, and align with the following IRIS+ metrics outlined by the Global Impact Investing Network.
ACT TO AVOID BENEFIT CONTRIBUTE
HARM STAKEHOLDERS TO SOLUTIONS
KEY METRICS FOR THE LEADERSHIP FUND
Tons Recovered and Returned (IRIS OI2535)
The impacted tons of materials coming through the system of the portfolio
company’s operation.
Net Greenhouse Gas Emissions (IRIS OI1479, PI2764)
Metric tons of CO2e estimated emissions reduced or avoided as a funded project
or company, based on tons of material recovered, using data from the most recent
version of U.S. EPA Waste Reduction Model (WARM).
Energy Management (IRIS PI5489, OI2496, OI9624)
Electricity used by source (including renewable), as well as electricity generated.
Employee Count (IRIS OI6213, OI3160, OI8147)
The number of measurable indicators, including full-time employees, hourly
employees, as well as female and minority representation.
Safety of Operation (IRIS OI3757, OI6525)
The top priority for the Fund; injuries and fatalities registered with OSHA are tracked.CLOSED LOOP PARTNERS 2020 IMPACT REPORT 37
Closed Loop Leadership Fund
Case Study:
Balcones
Resources Acquired Single Stream Recyclers
(Acquired Oct. 2019) The first AI-powered recycling
company in the U.S.
The largest privately held recycling
company in Texas, Balcones Resources
Top 50
Recyclers in North America
became the Leadership Fund’s inaugural
investment in October 2019. When CEO
200+
Kerry Getter sought a values-aligned
Employees across 3 locations to date
private equity buyer, having known
Closed Loop Partners for nearly a decade, 26
the firm quickly recognized a strong Years of profitable operations and
alignment in financial targets, growth value creation for shareholders
plans and impact.
High Employee
In 2020, Balcones Resources closed a Retention Rate
bolt-on acquisition of Single Stream Many employees have been at the
Recyclers (SSR), the first artificial company for 15+ years, across Operations,
intelligence-powered recycling company Transportation and Accounting
in the United States, growing the
footprint of best-in-class recycling
facilities in the country.Innovation Center
The Center for the Circular Economy is our innovation hub for
research, analysis and pre-competitive collaborations focused on
building the circular economy.CLOSED LOOP PARTNERS 2020 IMPACT REPORT 39 INNOVATION CENTER What We Do at the Center for the Circular Economy Collaborations Research and Advisory Services We lead collaborations between brands, Analysis We advise corporations on specific investors, NGOs and industry leaders aspects of their circular economy to identify, test and scale solutions that We conduct research and analysis, strategies relating to infrastructure solve material challenges and advance carry out landscape mapping, create assessment, gap analysis, solutions the circular economy. Together, we can investment roadmaps and reports landscapes and product design. send a unified signal to the market for on circular trends, challenges and sustainable change. opportunities across sectors.
CLOSED LOOP PARTNERS 2020 IMPACT REPORT 40
INNOVATION CENTER
Our Approach
We take a holistic, end-to-end
approach to innovating, testing
and scaling the circular solutions of
the future.
Our expertise spans the
full lifecycle of a product,
connecting upstream innovation
Innovate Test Scale
to downstream recovery
infrastructure and end markets. Source, identify and Help refine and hone Link innovation to
nurture leading solutions through the global supply
circular solutions holistic testing and chain
We work across brands, countries,
sectors and industries to create
piloting
the systems change necessary for
the advancement of the circular
economy.CLOSED LOOP PARTNERS 2020 IMPACT REPORT 41 PRE-COMPETITIVE COLLABORATION The NextGen Consortium The NextGen Consortium is a multi-year, global consortium that aims to address single-use foodservice packaging waste by advancing the design, commercialization and recovery of packaging alternatives. The Consortium works across the value chain––with brands, municipalities, material recovery facilities and manufacturers––to ensure we provide viable market solutions that scale throughout the supply chain and bring value to recovery systems. First on the list: the fiber cup. OPPORTUNITY FOR IMPACT Globally, more than 250 billion fiber cups are produced each year. While many cups are potentially recyclable, in practice the vast majority end up in landfill, wasting valuable resources. The NextGen Consortium is working to redesign the fiber cup so that it’s widely recyclable, compostable and/or reusable.
CLOSED LOOP PARTNERS 2020 IMPACT REPORT 42
PRE-COMPETITIVE COLLABORATION
NextGen Cup by the Numbers
480
unique solutions to
redesign the fiber cup
$10M+ sourced by the NextGen
19
initiative Cup Challenge in-market pilot
locations for sustainable
cup solutions
6
12 winning solutions
winning solutions each supported and scaled by
3 received a portion of the Circular Accelerator
Innovation $1M in funding
Categories
• Innovative
materials and cup
50
formats countries represented
• Next generation
coatings and liners across all NextGen Cup
• Reusable cup Challenge submissions
systemsCLOSED LOOP PARTNERS 2020 IMPACT REPORT 43
PRE-COMPETITIVE COLLABORATION
Consortium to Reinvent the Retail Bag
The Consortium to Reinvent the Retail
Bag is a multi-year collaboration across
retail sectors that aims to identify, test and
implement viable design solutions and
models that more sustainably serve the
purpose of the current retail bag.
OPPORTUNITY FOR IMPACT
The short use (12 minutes, on average) and
long lifespan of the plastic bag have led to
rising concerns. Single-use plastic bags are
among the top 10 items found on beaches
and waterways, and it’s estimated that we use
100 billion plastic bags per year in the U.S.,
contributing to a global waste challenge.CLOSED LOOP PARTNERS 2020 IMPACT REPORT 44
PRE-COMPETITIVE COLLABORATION
Beyond the Bag by the Numbers
solutions sourced by the
3
new retail partners
$16M+ Beyond the Bag Challenge
joined to date*, post-
initiative launch in August
60 58
countries represented shortlisted
across all the Beyond the solutions from the
Bag Challenge submissions Beyond the Bag
2,500 Challenge, spanning
consumers reuse and refill
interviewed models, enabling
for insights technologies and
innovative materials
*5 additional retail partners joined after the reporting period ending 3Q20CLOSED LOOP PARTNERS 2020 IMPACT REPORT 45
RESEARCH AND ANALYSIS
Advancing Recycling Technologies for Plastics
Apparel Electronics
and Textiles e.g. laptops, circuit boards,
First and foremost, we must reduce the need
and hard drives
e.g. synthetic fibers like
polyester and nylon
for virgin plastic production by scaling reuse
models and harnessing design innovation
and alternative materials. Second, to address Common plastics with
existing plastic waste, we will need to increase limited or no
end-of-life solutions*
investment in modernizing mechanical Construction Bulky rigid
and Building plastic
recycling and deploy advanced recycling e.g. pipes, roofing e.g. car seats or auto parts
technologies that can safely transform hard- and floor tiles
to-recycle plastic waste into valuable new
products, or into building blocks to make new
plastic or packaging.
*that are viable feedstock for advanced recycling technology processes
In 2019, the Center released a seminal report
that defined the landscape and scope
of advanced recycling technologies that
can transform post-use plastics into the
building blocks for new materials. In 2020, we
continued to build on its research, exploring
waste flows and investment drivers that
highlight opportunities for advanced recycling.CLOSED LOOP PARTNERS 2020 IMPACT REPORT 46 RESEARCH AND ANALYSIS Illuminating Recycling Infrastructure in North America Demand for recycled content is growing rapidly, with more than 250 brands and retailers in the U.S. committing to increase their use of recycled content in products and packaging. However, 90% of plastic waste ends up in a landfill, incinerator, or worse, in our oceans and the environment. The current supply of recycled plastics meets just 6% of demand for the most common plastics in the U.S. and Canada because of technical or market barriers. To shed light on the current system, the Center released an interactive data tool in 2020, to guide investors, brands, entrepreneurs and policymakers to make data-driven decisions that drive toward a circular future. The map brings to light the diversity of plastic waste, breaking down the volumes of plastics by type and the flows by country, state and province. In doing so, it highlights the critical opportunities to recapture valuable plastics and re- incorporate them into manufacturing supply chains. Enhancing the transparency of supply chains and better understanding the current flow of materials are essential first steps to improve plastics recovery.
CLOSED LOOP PARTNERS 2020 IMPACT REPORT 47 RESEARCH AND ANALYSIS Building Circular Supply Chains for Polypropylene in North America The dynamics of the municipal recycling system in the U.S. have changed dramatically in recent years. In many cases, municipalities are considering removing (or have already removed) certain recyclables from acceptance in curbside programs, but this action runs counter to tremendous demand for these materials by plastics reprocessors. In view of the disconnect between market demand and actions being taken by collection programs and materials recovery facilities (MRFs), the Center conducted and published research to identify MRF interventions to enhance the recovery of polypropylene (PP or plastic #5), commonly used in to-go containers. We are also an operating partner of the Polypropylene Consortium and investor in PP recovery projects through the Closed Loop Infrastructure Fund.
CLOSED LOOP PARTNERS 2020 IMPACT REPORT 48
RESEARCH AND ANALYSIS
Highlighting Critical Trends Driving the Shift Toward a Circular Economy
In September 2020, Closed
Loop Partners released a timely
report, The Circular Shift: Four
Key Drivers of Circularity in North
The
America.
Circular
The report highlights critical
trends driving circularity in
the region, putting circular
economy solutions at the center
of business strategy, innovation
Shift
development, policy changes and Four Key Drivers of
new institutional partnerships. Circularity in North America
A C L O S E D L OO P PA R T N E R S R E P O R TCLOSED LOOP PARTNERS 2020 IMPACT REPORT 49 RESEARCH AND ANALYSIS IN PARTNERSHIP WITH THE CLOSED LOOP VENTURES GROUP Navigating Plastic Alternatives In a Circular Economy In December 2020, Closed Loop Partners, through a collaboration between the Center for the Circular Economy and the Closed Loop Ventures Group, launched a first- of-its-kind report demystifying the rapidly growing landscape of plastic alternatives, as one line of defense against waste–– after reduction and reuse––in the transition to a circular economy. The report unpacks the opportunities and challenges within the industry’s move toward these alternative materials, considering sustainable sourcing of feedstocks and end-of-life recovery pathways that recapture their material value after use.
CLOSED LOOP PARTNERS 2020 IMPACT REPORT 50 Team
CLOSED LOOP PARTNERS 2020 IMPACT REPORT 51
Closed Loop Partners Team
LEADERSHIP & INNOVATION TEAM
70%
female
30%
45% 52% male
of our team has run a has participated in
company a major merger or
acquisition
Languages
Spoken
WORK
EXPERIENCE MANUFACTURING
PRIOR TO
Cantonese Mandarin
JOINING
CLOSED LOOP
PARTNERS WASTE &
Filipino Norwegian
RECYCLING
FINANCE French Russian
German Spanish
SOCIAL IMPACT &
SUSTAINABILITY Hebrew UrduCLOSED LOOP PARTNERS 2020 IMPACT REPORT 52
Closed Loop Partners Team
Ron Gonen Martin Aares Caroline Bridget Croke Kate Daly Michael Jessica Bob Milligan Maite Quinn Tazia Smith Erik Avni Alicia
CEO Managing Brown Managing Managing Gajewski Long Managing Managing Managing CCO & Mandelkow
Director Managing Director Director, Head of CFO & CSO & Director Director Director Controller Chief of Staff
Director the Center for the Managing Managing
Circular Economy Director Director
Boaz Thomas Jennifer Louie Danielle Jon Powell René Paula Allison Shapiro Bob Tim Denise Diorio Chris Cui Kate Krebs Dan Liswood
Schweiger Tochtermann Executive Joseph Executive Venture Executive Anderson Wackenreuter McVeigh Director, Asia Director, Director,
Operating Senior Advisor Director Executive Director Partner Director Vice Deputy Vice President & Programs Industry Affairs NextGen
Partner Director President Controller Director of Consortium
Operations
Paula Luu Matt Luba Shabal Georgia Sherwin Yuly Fuentes Hannah Zainab Gilani Bea Miñana Hannah Piester Allison Sellers Julia Viner Emma Watson
Project Pundmann Director, Director, Advisor Friedman Project Communications Private Equity Investment Investment Administrative
Director Project Director Impact & Due Communications Investment Associate Associate Associate Associate Analyst Assistant
Diligence & Strategic Associate
InitiativesCLOSED LOOP PARTNERS 2020 IMPACT REPORT 53 Impact Assessment Methodology
CLOSED LOOP PARTNERS 2020 IMPACT REPORT 54
Our 2020 Impact Overview
Closed Loop Partners invests in recovery infrastructure
and innovations for post-consumer materials that drive a The Impact Logics Framework, outlined by the Impact
Management Project (IMP), provides a deeper understanding of
circular economy forward. The firm targets competitive
our portfolio’s impact, across the five dimensions of performance.
financial returns and a net positive impact through avoided
landfilling, reduced resource extraction, avoided GHG
Five Dimensions of Impact
emissions and a systemic shift toward a circular economy.
WHAT
We invest in circular business models that create a more
The firm is proud of the robust integration of environmental sustainable, profitable and resource-efficient economy.
and social impact outcomes into the firm’s mission,
WHO
investment thesis and investment process. We aim Our investments reduce the pressure on the planet,
to support the market’s advancing assessment of resulting from linear economic activity.
environmental and social value––specifically to account for HOW MUCH
the impact of circularity in the economic system. Closed We project, measure and manage positive impact that
Loop Partners strives to demonstrate industry impact lasts well beyond our engagement.
standards, and help inform their evolution and integration CONTRIBUTION
into markets. We actively manage capital, provide flexible terms and
add value to catalyze impact across sectors.
Data in this report, across each of our funds and the Center RISK
for the Circular Economy, show Closed Loop Partners’ We move away from business as usual, or the take-
make-waste linear economy, to lessen organizations’
cumulative impact through the third quarter of 2020, or
exposure to significant climate- and supply chain-
where noted, from the third quarter of 2019 through the third related risks.
quarter of 2020.CLOSED LOOP PARTNERS 2020 IMPACT REPORT 55
Our Assessment Process
1 2 3 4 5
IDENTIFY ESTABLISH MAKE TRACK REPORT
METRICS BASELINE PROJECTIONS PROGRESS RESULTS
Identify the scope Establish a baseline Make projections Track progress Report progress
of potential impact; forecast for “business of intended over time through of each fund
recognize what as usual” to capture impacts on the portfolio companies’ in aggregated
measurements additionality of the identified metrics. provided reports. quarterly reports
and metrics can be impact, analyze As a condition of to respective
applied to capture potential outcomes funding, clients are advisory boards,
the impact of the of the company or required to report investors and other
investment. Ensure project without our their pre-agreed stakeholders.
alignment with the involvement. impact reports to
intended impact of Closed Loop Partners’
the fund. fund managers. Data
is collected on a
quarterly basis.CLOSED LOOP PARTNERS 2020 IMPACT REPORT 56 Appendix
CLOSED LOOP PARTNERS 2020 IMPACT REPORT 57
INVESTMENT LOCATION MATERIAL SUMMARY POTENTIAL FOR IMPACT
Closed Loop Algalife Israel Fashion Algalife has developed a technology for converting micro-algae to textile fibers and Reduces dependence on plastic fibers and toxic
Ventures
dyes using proprietary blends and strategic feedstock sources. dyes for textiles by providing solutions produced
from a renewable resource, micro-algae.
Group Algramo Chile Plastics and
Packaging
Algramo builds a “smart dispensing system” for CPG products that incentivizes the
reuse of packaging, and provides an economic benefit to buyers (able to buy small
Reduces single-use and unrecyclable CPG
packaging and offers high quality products at
Portfolio quantities of products at bulk prices), retailers and brand owners. an economic value accessible to populations
regardless of socioeconomic status.
Algramo US NY Plastics and Algramo launched Algramo US, marking its expansion into North America. The
Packaging company recently launched pilots in New York City to test their smart dispensing
system in select locations across Manhattan and Brooklyn, meeting the growing
demand for convenient, accessible and waste-free solutions.
AMP CO Technology AMP Robotics uses state-of-the-art computer vision and robotics that rapidly Improves the quantity and quality of recycled
Robotics identifies and recovers material from the waste stream. commodities recovered from co-mingled waste
streams.
Atlas SC Food and Atlas Organics recycles organic waste streams by partnering with municipalities to Diverts food waste from landfill and turns it
Organics Agriculture collect & process organic waste, and sell finished compost. into a valuable soil amendment. Increases the
accessibility of composting.
CoLoadX NY Technology CoLoadX is an e-commerce platform for partial container ocean freight. CoLoadX Reduces waste in the global supply chain by
improves both operations and user experience. making international logistics simpler and more
efficient.
DAI United Fashion DAI creates performance wear for women, committed to sustainability, circular Demonstrate a fully circular business model
Kingdom economy and social impact that empowers women. without compromising on quality and comfort.
Easy Aerial NY Technology Easy Aerial develops advanced and customized autonomous aerial monitoring Potential to improve the quality and efficiency
solutions. of recycling operations, e.g., increasing the
quality of material coming into MRFs by
enhanced hauler visibility systems.
Evrnu WA Fashion Evrnu transforms post-consumer cotton garment waste into high quality cellulosic Diverts and recovers cotton fiber waste and
fiber. converts it to new fibers, thereby reducing the
need for virgin cotton fibers.
For Days CA/NY Fashion For Days designs everyday basics and sells through a “swap” model that takes used Reimagines consumption habits of basic
products as inputs for their new ones. apparel, thereby dramatically reducing the
75lbs/person/year that get disposed of in landfill.
Griin* Israel Food and Griin has a distributed coffee roasting technology that can bring green coffee beans Eliminates unnecessary transportation,
Agriculture directly to the forefront of the trade and into the hands of the consumer. packaging and advances on-demand, zero-
pollution roasting.
*Investment made outside the reporting period illustrated here to show the full expanse of investmentsCLOSED LOOP PARTNERS 2020 IMPACT REPORT 58
HomeBiogas Israel Food and HomeBiogas produces household- and commercial-sized biogas systems that turn Diverts food waste from landfill and increases its
Closed Loop Ventures Agriculture organic waste into a cooking fuel and fertilizer. value as usable fuel, reduces indoor air pollution
Group Portfolio (cont.) from dirty cookstoves and offers “free” fertilizer.
Linhaus** NY Metals, Linhaus is a proprietary technology and design platform that delivers customizable Avoids extractive diamond and gemstone
Minerals and closed-loop jewelry with a unique customer experience. mining by increasing demand for recycled
metals and lab grown diamonds.
Loliware** NY Food and Loliware is the world’s first Edible Bioplastic Company dedicated to replacing plastic Reduces the need for unrecyclable plastic
Agriculture with edible materials. straws with hyper-compostable alternatives.
Mori MA Food and Mori (formerly Cambridge Crops) extends the shelf-life and freshness of food by Minimizes food waste, limits GHG emissions and
Agriculture using natural, edible and invisible coatings. water waste created by the food supply chain,
and reduces the reliance on plastic packaging.
Natural Spain Food and Natural Machines’ 3D food printer allows users to print what they want to eat and Makes use of food scraps in commercial
Machines Agriculture nothing more, and recover food that is traditionally classified as food waste. kitchens, diverting discarded food from landfill.
Rebound CO Food and Rebound Technologies accelerates freezing processes with bursts of high capacity Cuts fresh food waste at logistics sites, and
Technologies Agriculture cooling, and generates sub-zero temperatures at 40% greater efficiency than reduces energy consumption for freeze-point
legacy systems. cooling.
The Renewal OR Fashion The Renewal Workshop takes unsellable apparel and textiles and “renews” them for Diverts textiles that would otherwise be sent to
Workshop resale by brands. landfill or incineration.
Retrievr NY Technology Retrievr (formerly CurbMyClutter) is a software that enables municipalities and Diverts textiles and electronics from landfill
haulers to collect and recycle used electronics and apparel. by dedicated collection and recycling. Retrievr
has the potential to collect 75lbs/person/year of
textile waste.
Thrilling CA Fashion Thrilling is a boutique vintage clothing marketplace, leveraging the infrastructure Increases accessibility to vintage clothing
of pre-existing “sorters”/vintage clothing store owners to accelerate the circular and promotes resale of clothing, prolonging
economy. garments’ useful life and keeping them out of
landfill.
TradeLanes CA Technology TradeLanes is a global trade execution platform that connects trade participants Saves exporters 30-80% on supply chain
into a digital document chain. management by digitizing and automating
supply chains, particularly related to recycled
paper and bulk foods.
ucrop.it* Argentina Food and ucrop.it is the first collaborative agriculture platform for crop traceability, Farmer-centric software gives control back
Agriculture connecting growers with companies to agree on sustainable crop production to the farmer, enables the growers to obtain
objectives, using blockchain technology for their traceability and the confidential greater profitability and incentivizes sustainable
cryptographic storage of the grower’s information. agricultural practices.
*Investment made outside the reporting period illustrated here to show the full expanse of investments
**Closed Loop Partners is no longer an investor or lenderYou can also read
