Recykal, an end-to-end digital ‘waste-commerce’ solutions provider, has been selected as the first member from India for World Economic Forum’s Circulars Accelerator Program 2021.
The program is led by Accenture, in partnership with Anglo-American, Ecolab and Schneider Electric, and in collaboration with UpLink and the World Economic Forum. It will connect industry leaders with 17 ground-breaking circular economy entrepreneurs to scale up disruptive, cross-sector value chain innovation.
Recykal’s unique, integrated approach marks India’s first digital waste-commerce (w-commerce) company that connects waste generators with waste processors and recyclers, and brand owners to solve some of the biggest challenges faced by the industry.
The company’s digital solutions are ensuring higher rates of waste collection, recycling and unlocking value for stakeholders across the waste value chain thereby paving a way for a circular economy by ensuring more materials are entering the recycling streams and less to landfills. In doing so, Recykal has saved 12.86 million-kWh energy, 57.71 million – litres oil, 18.23 million cubic feet landfill space, 44.44 million litres water and 28,047 trees.
Abhay Deshpande, founder, Recykal, said, “As India becomes one of the world’s biggest waste generators, it is crucial that business leaders recognize waste management and recycling as an industry. Effective management of waste will not only bring $650 billion plus GDP savings to our economy by 2030, it will create two million jobs by 2025.”
Recykal plans to channelise over 10,000 metric tons of recyclables every month, with plans to scale and influence upwards of 2 million metric tons of plastic annually by 2025. Waste collected from various segments like consumers, businesses, aggregators, informal sector are channelized to recyclers, coprocessors, cement kilns.
Recykal has received several recognitions including Grant Thornton Responsible Business Award, NASSCOM EMERGE 50 Awards, FICCI Indian Circular Economy Awards and ASSOCHAM Best Waste Management Digital Technology Player. Since 2016, Recykal has responsibly channeled supply and demand for dry waste and recyclable materials, with the aim of having a positive environmental and social impact in India.