Privately held WasteZero, a Raleigh-based firm that helps governments implement waste reduction programs, is raising $5 million.
In an SEC filing, WasteZero says it has generated some $3.2 million through stock sales to 14 investors.
The company wants to raise another $1.8 million.
WasteZero’s “Trash Metering” program help cities “save money, increase recycling, and reduce waste being sent to landfills more than 44 percent annually,” the company says on its website.
They call the idea “Pay as You Throw.”
The firm works with clients to shift trash collection fees to individuals based on how much trash they generate.
“When residents pay, residents care,” the company says.
“Their increased recycling and reduced trash volumes sent to landfills reduce total costs by 50 percent or more. In one simple but profound step you both reduce total cost in a way that everyone wins, and also create a simple and permanently-motivating billing system for trash services.”
WasteZero says the firm has “more than 800 communities” as customers and that those cities and towns “have diverted more than 3 million tons of waste and saved $200 million in costs with WasteZero solutions.”
The company spells out a three-step process for government customers:
1. “Remove fixed trash fees and shift payment for trash directly to residents. This can be done quickly and easily using prepaid bags that cover the municipality’s cost of collection and disposal.
2. “Provide information and support services to make this enormously positive change happen effectively. This means helping residents to understand why you have made the change, what the benefits are, how and what to recycle, etc. It is simple and it works – guaranteed.
3. “Enjoy the benefits. With this program you can expect to reduce (or even eliminate entirely) the budget items associated with residential solid waste collection and disposal.”
When residents pay, residents care. Their increased recycling and reduced trash volumes sent to landfills reduce total costs by 50% or more. In one simple but profound step you both reduce total cost in a way that everyone wins, and also create a simple and permanently-motivating billing system for trash services.