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Each Olympus machine collects approximately 1.5 metric tons of recycled materials per year, helping to reduce plastic waste and meeting the 1 billion pounds of commercial demand for recycled PET

San Jose, California, November 15, 2021 /PRNewswire/ - Olympus, a leader in technology-centric in-store consumer recycling solutions, raised a $1 million seed round led by Vanedge Capital.

The Olyns recycling platform includes an eye-catching bottle collector designed for high-traffic indoor venues, and a mobile application that provides rewards, CRV redemption (in the bottle billing state) and an environmental impact dashboard. Olyns' recycling cube is the link between consumer recycling and retail media. It is efficient, durable and streamlined. It is equipped with a 65-inch full-motion video screen and can double as a retail media channel.

“People want to recycle, but more than 67 million pounds of plastic end up in the ocean and landfills every year,” said Philip Stanger, Olympus co-founder and CEO. "The recycling system is broken-the closure of recycling centers across the United States means that many people cannot get recycling. In addition, most of the things we put in roadside recycling bins are not actually recycled. Our new product method is Consumers provide convenience and incentives for recycling, and can convert millions of tons of plastic and aluminum from landfills and the ocean into new products."

Earlier this year, Pepsi-Cola partnered with Olympus to launch a pilot program in a Safeway store in the Bay Area. The program was a success and has been expanded to include four Safeway stores-Milpitas (#1879), Santa Clara (#1990), Sunnyvale (#2887) and Cupertino (#3251).

"Plastic waste is an urgent global problem, and we are always looking for a team and solution that can achieve a profitable and effective shift in consumer recycling patterns," said Paul Lee, managing partner of Vanedge Capital. "Olyns has solved the revenue problem by embedding recycling infrastructure in the retail media network and ensuring scalability through the gig economy model on the back end. Philip and John are outstanding leaders with vision, technical expertise, and experience. Disrupting the consumer recycling ecosystem in a profitable manner. We are very happy to work with Olympus and look forward to actively supporting the company's development in the next few years."

"This seed round of financing will allow us to accelerate the execution of our product roadmap and our customer growth strategy, which will help us accelerate the expansion of our recycling cube network in California, the United States and around the world," Stanger said.

About Olympus Olyns engineers’ technology-centric out-of-home recycling solutions help meet the demand for recycled plastics (RPET) and accelerate the transition to a circular plastic economy through a new recycling model that addresses key issues such as access, incentives, and income , And labor. Olyns' recycling platform includes an eye-catching bottle collector designed for high-traffic indoor venues, and a gamified mobile application that provides a dashboard of bottle refunds, rewards, and environmental impact. Olyns’ new approach provides convenience and incentives for consumers, hosting locations with new revenue and data-driven customer insights, brand advertisers with precisely targeted retail media channels, and retargetable millions of tons of plastic and aluminum The scalable recycling model of the environment ranges from landfills and oceans to new products. Gig workers use the Olymps application to support the collection and transportation of stored materials from machines to recycling facilities, ensuring scalability. Operating in the ties between consumer recycling and retail media, Olympus machines are efficient, durable, and streamlined, equipped with 65-inch full-motion HD video screens, double as a unique retail media platform, and have a true environmental reputation.

In the United States alone, there are more than 140,000 indoor locations where Olympus machines can be installed. Olyns machines are ideal for any high-traffic location where consumers buy, drink or discard their beverage containers, including grocery stores, shopping malls, service stations, transportation hubs, movie theaters, stadiums, universities, and corporate parks.

About Vanedge Capital Vanedge Capital is a Vancouver-based venture fund that invests in early stage companies that build basic new technologies that have the potential to significantly improve the world, focusing on next-generation analytics, computational biology, and disruptive hard technology platforms. Vanedge's professional team uses their strong network connections and important operational expertise to accelerate the development of these game-changing companies.

Media contact: press@olyns.com

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