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A Norwegian Tech Company Is Solving the Plastic Recycling Crisis

By Sophia Cai
May 29, 2019 7:15 a.m. ET


The world has a plastic problem, and one Norwegian company is offering a solution.

The world produces 350 million metric tons of plastic each year—about 100 pounds for every man, woman and child on earth each year—and something needs to be done with all the leftovers. That something used to be China, which once took in over 70% of the world’s plastic waste. But China is no longer buying it. Southeast Asian countries are increasingly reluctant to do so, so what should countries do with it?

Enter TOMRA Systems (ticker: TOM NO). The Oslo-based company is the largest producer of reverse vending machines and sensor-based machines for sorting and recycling. It has more than 83,000 vending machines and nearly 6,000 of its sorting recycling systems installed in 80 countries world-wide, and could be the beneficiary as the amount of plastic that’s recycled—currently about 14%—continues to grow.

https://www.barrons.com/articles/tomra-plastic-recycling-51558708436


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