Founded by David Katz, The Plastic Bank is a for-profit social enterprise that aims to stop ocean plastic by monetizing plastic waste. The company establishes ethical collection branches in coastal communities, primarily in developing countries, where local residents can exchange collected plastic for money, goods, or digital tokens. This collected material, branded as Social Plastic®, is then recycled and sold to corporations for use in their products or packaging. The model provides a stable, above-market rate for plastic waste, creating a reliable income stream for collectors while providing businesses with a transparent and socially responsible source of recycled material, often tracked through a proprietary blockchain-secured platform.

Founded in

Canada