Banyan’s recycled plastic has created more than 300 million FMCG bottles for companies such as Hindustan Unilever, Reckitt, Shell, and HPCL in the past year.
Banyan Nation is one of India’s first vertically integrated plastic recycling enterprises in a country where recycling activities are fragmented, leading to mishandling of precious materials and causing vast marine and terrestrial pollution. One of the world’s largest producers of recycled polyolefin polymers (PE and PP) uses its unique technology platform to integrate thousands of informal labourers into its supply chain.
For shampoo, lotion, and detergent bottles, Banyan claims to be the only business to have its recycled polyolefin materials certified for usage. Safety standards for its recovered plastics have been met in the United States and Europe. Supply chains for the raw ingredients can be tracked back to their original point of origin. Using Banyan’s recovered plastic, more than 300 million FMCG bottles have been made in the last year alone. Hindustan Unilever, Reckitt Benckiser, Shell, and HPCL are just a few of its many clientele.
Circulars Award (2018 Intel-DST Award Innovation for Digital India), Millennium Alliance Grant (2016 and mBillionth Award) and World Economic Forum Global Technology Pioneers (2021) were all given to the company (2015).
High-quality recycling can be done on a large scale while still being environmentally and socially responsible thanks to its facility in Hyderabad. A mere 1% of projected 2025 demand for recycled plastics will be met by this plant’s installed capacity. Founder Mani Vajipey said the company is expanding its plastics washing process in order to produce “premium-quality recycled plastics in injection, blow, and extrusion grade materials for use in a variety of sectors,”
As Vajipey continues, “our purpose is to solve the scourge of plastic pollution and create enduring environmental and social impact while growing our business to size and profitability.”
50,000 tonnes of installed capacity is the company’s goal by 2024. A paradigm shift in how Indians and the rest of the world view plastics might be achieved through collaborations with other startups, huge corporations, policymakers, and even customers, according to the company’s founders.