PLAEX Technologies B.V

At PLAEX, we make smart waste management technologies, making the tomorrow of circularity happen today; primarily, we made a smart bin that significantly improves recycling rates and cost savings.
We are seeking to solve the problem of "Waste". As it's only "waste" if you cannot reuse it. As of 2016, the world bank recorded household waste production in excess of 2 billion tons, and only about 14% of that was recycled. In 2018, the EU issued a mandate (Directive 2018/851) that by 2025, all member states should recycle above 55% of their waste. However, less than 10 countries seem able to achieve this mandate. This will not only mean fines and penalties for nations unable to achieve the mandate but would also mean more pollution for the environment. When waste is not sorted properly, the waste cross contaminates itself (think banana peels mashed with paper), and because of this it is often impossible or fiscally unreasonable for waste management companies to try and separate, clean, and recycle this waste at the end. Hence, the more feasible and fiscally reasonable choice for these companies is to dump the waste in landfills or incinerate it, both of which contribute to pollution of the air (CO2 & methane), soil, and aquatic environments, eventually coming full circle back to us, as we breathe in the polluted air, plants and animals we eat also take in this pollution from the soil and sea.
We are looking first to capture the local market which is the Netherlands. This is something we believe the world can really benefit from so we plan to distribute our bins worldwide at some point. Starting off by expanding to markets geographically closer like Germany and then working from there.
The main driver of revenue would be the leasing of our 2 flagship products (mainly Garby the Smart bin). Currently, we believe a monthly subscription model would work best.
Tyrell A.N. Pantophlet is our Co-founder and CEO – a previous entrepreneur and has an MSc. In Energy for Smart Cities. He supports partnerships and business development as well as leads product development. Victor C. Okoro is our Co-founder and Chief Strategy Officer – a previous entrepreneur and possesses an MSc. In Psychology (leadership & product design). Additionally, he was a previous Product Owner/Manager with big multinationals. Finally, he supports product development and leads partnerships and business development.
Primarily, we have made a smart recycling bin that uses AI, Machine Learning, and our proprietary mechanical design to identify, classify, and sort waste at the point of disposal. It also stores and transmits data about waste disposed to a dashboard, thus indicating what was thrown away, where and when, and how full each waste stream is in each bin. Currently, our prototypes sort between 4 waste streams; paper, PMD (plastic, metal cans, & drink cartons), organic, and residual - as this is in line with the regulations of our launching markets (Netherlands & Germany). However, the AI algorithm can be re-trained to sort between other streams in line with requirements from different clients or markets. Our design is much more compact and portable (which some potential clients have indicated a preference for due to the value of their floor space). In addition, we are based in the Netherlands, which is a very wealthy and environmentally conscious market. Also, we charge clients on a subscription-based model as opposed to large upfront purchase costs thus, customers have a low barrier for product acquisition, and we get to maintain responsibility for the bin and can easily recycle faulty parts/bins. Finally, we are making our bins from recycled plastic so the production of our products is also sustainable