Indian plastic recycling start-up Banyan Nation is shortlisted for the World Economic Forum's (WEF) Circular Economy awards to be given in Davos in January.
Banyan's work for Tata Motors in automotive bumper recycling, and its partnership with L'Oréal, the French cosmetics giant, in shampoo-bottle recycling, has put the company on the global sustainability map.
The Circulars is the world's premier circular economy award program that recognizes individuals and organizations making notable contributions to the circular economy.
Mani Vajipey, co-founder and CEO, Banyan Nation, said: "It is our mission to help brands by replacing the use of virgin plastic with recycled plastic, which is comparable in quality and performance. Within the next decade, almost all mainstream plastic products, including food-grade packaging, will contain recycled materials. We see Banyan at the forefront of this paradigm shift."
The Hyderabad-based start-up is leveraging data intelligence to integrate thousands of last mile informal waste collectors and large bulk-waste generators into its supply chain.
The company developed a proprietary plastic cleaning technology which converts plastic waste into near-virgin quality recycled granules (better plastic) that global brands can use to make mainstream products and packaging.