The environment gains from better waste sorting. In the recycling system, too much waste is burned that could be recycled. 90 % of the emissions from burning of residual waste is caused by the unnecessary amount of plastic waste not being sorted - and then turned into CO2 released into the atmosphere. With Bintel’s solution, the amount of residual waste can be reduced by 50 % leading to a considerable reduction of CO2 emissions. In 2018, the founder Tom Johansen backed by three early investors developed the first prototype to monitor waste bins.
It is possible to keep track on when collection of waste is needed with Bintel. We are offering a waste management solution providing customers with actionable data. The result is more efficient operations, meaning both better sustainability and lower costs, says Michael Wictor, CEO of Bintel.
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With the Bintel solution it is possible to monitor recycling bins in real time. Presently, Bintel is growing rapidly connecting recycling rooms and bins in the public spaces. Potential is huge as the solution may be applied to any type of waste installations and on all types of bins. Significantly tougher legislation from both the Swedish Government and the EU are driving change in the industry, and the demand for Bintel's solution.
Circularity is a huge global challenge, and we need solutions that achieves higher levels of recycling. We need to reuse the different types of materials in the right way” says Michael Wictor.
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Bintel is the market leader, offering its leasing solution to more than 70 customers in five countries. The biggest volumes derive from Sweden, and Bintel is also present in Denmark, Norway, Germany and Finland.
The company is financed by venture capital and the owners include Almi Invest Greentech and the EU's EIT fund. By the summer, cash flow will be positive, and then increased international growth awaits. That plan includes a larger financing round at the end of 2023.
Master in BA
NO TIME TO WASTE!
Increase sorting of waste and decrease the amount of residual waste resulting in less co2-emissions.