Total Green Recycling is joining the ranks of new recycler Scipher Technologies, in a deal backed by the Clean Energy Finance Corporation and the Australian Business Growth Fund.
Total Green Recycling is joining the ranks of new recycler Scipher Technologies, in a deal backed by the Clean Energy Finance Corporation and the Australian Business Growth Fund.
The WA-based e-waste recycler, which started in 2008, has grown to process more than 3,000 tonnes of e-waste per year, while navigating the relatively new and unregulated industry.
Scipher Technologies was established in 2019 and purchased e-waste assets from Cleanaway in 2020.
While Scipher is a new group, its management team have experience working with large European e-waste compliance schemes and technology suppliers.
It has plans to be Australia’s leader in “urban mining” by implementing advanced raw material recovery technology and establish national recycling infrastructure.
The plan has piqued the interest of government-owned green bank Clean Energy Finance Corporation and the federally-backed Australian Business Growth Fund which are behind the acquisition as cornerstone investors.
Each invested $7.5 million in Scipher which was allocated to a variety of initiatives in the business, including acquiring Total Green Recycling.
Total Green Recycling was advised on the deal by Octavian Group.
Total Green Recycling director and 40under40 winner James Coghill said he hoped the deal would give the organisation access to the capital and corporate governance needed to enact its ambitious recycling plans.
Mr Coghill said joining forces with Scipher, Australian Business Growth Fund and Clean Energy Finance Corporation represented a significant opportunity to bring aspirations of developing a circular economy for technology to reality.
“The timing of this partnership couldn’t come at a better time for WA, with e-waste expected to be banned from landfill in 2024,” Mr Coghill said.
“This partnership will ensure Total Green is able to meet the growing community demand for sustainable, high-quality recycling.”
Mr Coghill, and his brother and business partner Michael, have equity in Scipher Technologies and will hold executive positions at the group to lead its expansion into Sydney and Albury.
He said Total Green Recycling’s staff would remain working at the organisation.
Scipher Technologies managing director Chris Sayers said the knowledge and experience in the Total Green Recycling team would strengthen its organisation.
Australian Business Growth Fund co-head of investments Patrick Verlaine said regulators, businesses and consumers were increasingly focused on the treatment of e-waste.
“Through this investment, we are supporting a growing business which is investing in leading technology to maximize recovery rates of valuable and what would otherwise be environmentally harmful waste, diverted to landfill,” Mr Verlaine said.
Clean Energy Finance Corporation chief executive Ian Learmonth said as everyone embraced new technologies and discarded older ones, society needed to turn attention to the end-of-life treatment of devices.
