Greenback Recycling Technologies

What Greenback Recycling Technologies does

Greenback Recycling Technologies is a UK-headquartered (London) environmental engineering company founded in 2019 that operates advanced chemical recycling infrastructure for flexible plastics and multi-layer laminates. The company's core technology is the Enval™ microwave-induced pyrolysis process, acquired through the September 2023 acquisition of Enval, which converts post-consumer flexible plastic packaging — feedstocks that conventional mechanical recyclers typically reject — into π-Oil™ (a purified, food-grade pyrolysis oil) and recycled aluminum. The company operates a recycling plant in Cuautla, Mexico in partnership with Nestlé Mexico, which has been operational since 2023, and in September 2024 secured a partnership with the IFC (World Bank Group) to scale operations across Mexico and Latin America with a stated target of processing up to 90,000 tonnes of plastic waste annually.

Greenback sells into three primary customer segments: petrochemical producers and plastic converters purchasing π-Oil as a certified non-fossil feedstock for food-grade plastics production; consumer packaged goods companies seeking verifiable recycled content to meet sustainability commitments; and waste collectors and sorting plants supplying flexible-plastic feedstock through the company's eco2Veritas™ Circularity Platform. The eco2Veritas platform — a blockchain-based evidence system using AI-powered image recognition and smart contracts — provides full provenance traceability from waste collection through to recycled output, addressing both greenwashing risk and fair-value distribution to informal waste collectors. The company distributes exclusively through direct enterprise partnerships, with pricing not publicly disclosed.

The business model combines a physical-asset recycling operation (plant-based, tonneau-volume) with a software/verification layer (eco2Veritas SaaS-style traceability). Revenue is generated from the sale of π-Oil to petrochemical buyers and from circularity-verification services to CPG brands, though specific revenue figures, contract values, and pricing structures are not publicly disclosed. Greenback is privately held, with no public listing, parent company, or disclosed funding rounds identified in available sources; ownership is concentrated at the founder/management level.

Name

Greenback Recycling Technologies

Legal name

Greenback Recycling Technologies

Website

https://greenback.earth

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Greenback Recycling Technologies is a UK-based chemical recycling company that uses proprietary Enval microwave-induced pyrolysis technology to convert unrecyclable flexible plastics and multi-layer laminates into food-grade π-Oil and recycled aluminum, selling to petrochemical converters and CPG brands with blockchain-verified traceability.

Ownership category

akta.pro rank

Product category

Chemical Plastic Recycling

NAICS

Plastics Product Manufacturing (3261), Materials Recovery Facilities (562920)

SIC

Refuse Systems (4953), Plastic Materials, Synth Resins & Nonvulcan Elastomers (2821)

akta.pro primary industry

Film & Flexible Plastics Recycling (LDPE/LLDPE, Multilayer) (EUAIAKAE)

akta.pro secondary industries

Plastic Recycling Equipment & Technology Providers (Sorting, Washing, Extrusion) (EUAIAKAM), Food-Grade & rPET/rHDPE Recycling (Decontamination/SSP, Bottle-to-Bottle) (EUAIAKAD), Packaging Waste Sorting & Recycling Technologies (Mechanical/Chemical Recycling, Sorting Systems) (IMALAMAL), Recycled Resin Trading & Distribution (PCR/PIR Commodity Markets) (EUAIAKAK)

Keywords

• Chemical recycling services
• Pyrolysis technology
• Blockchain traceability
• Circular economy solutions
• Plastic waste recycling

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Technology or R&D, Supply Chain, Personnel

Distribution channels1 record

Marketing channels2 records

Core offering

Greenback Recycling Technologies operates chemical recycling plants that use Enval microwave-induced pyrolysis technology to convert flexible plastics and multi-layer laminates into π-Oil, a purified non-fossil recycled raw material suitable for food-grade plastics production. The company's eco2Veritas blockchain-based circularity platform provides end-to-end traceability, certification and fraud prevention across the recycling value chain using AI, image recognition and smart contracts.

Product overview

Greenback Recycling Technologies offers an integrated circular economy platform combining advanced pyrolysis technology with blockchain-based verification. The core offering consists of Enval™ microwave-induced pyrolytic technology for recycling flexible plastics and multi-layer laminates into π-Oil™ (a purified recycled raw material for food-grade plastics), supported by the eco2Veritas™ Circularity Platform which provides blockchain-based transparency, certification, and traceability using AI image recognition and smart contracts to prevent fraud and greenwashing.

Differentiator

Problem solved

Functional benefit

Brands

• Enval: Microwave-induced pyrolytic recycling technology for converting flexible plastics into pyrolysis oil and recycled aluminum
• eco2Veritas
• π-Oil

Products and services

• π-Oil™ (Py-Oil) Non-fossil, purified recycled raw material derived from Enval pyrolysis technology, suitable for food-grade plastics production, with digitally certified origins verified through the eco2Veritas platform. Sold to petrochemical companies and plastic producers.
• Enval™ Microwave-Induced Pyrolysis Technology Microwave-induced pyrolytic recycling technology capable of processing flexible plastic packaging and multi-layer laminates that are typically not mechanically recyclable, transforming them into π-Oil (pyrolysis oil) and recycled aluminum at recycling plants.
• eco2Veritas™ Circularity Platform Blockchain-based evidence system offering complete transparency, certification and traceability throughout the entire circular value chain, preventing greenwashing and fraudulent recycling claims through AI-powered image recognition and smart contracts.

Quantifiable outcome

• Up to 90,000 tonnes of plastic waste processed annually
• +1 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• EnvalcoreStrategic or Co-development Partner · 15 September 2023Greenback acquired Enval, creating a leader in next-generation plastics recycling. The merger incorporated Enval's microwave-induced technology for transforming flexible plastics into pyrolysis oil and recycled aluminum.
• Nestlé MexicocoreStrategic or Co-development PartnerPartnership with Nestlé Mexico at the Cuautla recycling plant operating since 2023, focused on achieving full circularity of food-grade plastic packaging.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Plastic Energy: UK-headquartered company operating pyrolysis plants that convert end-of-life plastics into feedstock oils (TACOIL). Closely matches Greenback's core process, target waste stream (flexible/multi-layer plastics), and customer base of petrochemical producers.
• Recycling Technologies: UK-based developer of thermal cracking (Fluidised Bed) technology for mixed and contaminated plastic waste. Competes directly with Enval's microwave pyrolysis approach in the same advanced-recycling category.
• Mura Technology: Operates supercritical water-based advanced recycling for flexible plastics and films, with large-scale plants in the UK and partnerships with petrochemical majors (e.g., Dow, Mitsubishi Chemical). Direct competitor for flexible-plastic feedstock supply.
• Nexus Circular: US-based advanced recycler using pyrolysis to convert polyolefin films into circular feedstocks for petrochemical customers. Closely comparable technology and customer profile to Greenback's π-Oil offering.
• Carbios: French biotech developing enzymatic depolymerization of PET into food-grade monomers. Targets the same food-grade recycled plastics end-market as Greenback's π-Oil, though via a biological rather than thermal pathway.
• Loop Industries: Canada/US-based advanced recycler using a proprietary depolymerization process to break down PET and polyester waste into food-grade monomers — a direct competitor for the recycled-content food-contact plastic market.
• Agilyx: Norway/US-based chemical recycler with proprietary pyrolysis-to-feedstock technology for polystyrene and polyolefins, supplying petrochemical customers including Braskem. Directly comparable advanced-recycling technology and customer base.

Broad incumbents

• Eastman Chemical (Advanced Materials Recycling): Diversified specialty chemicals major with a methanolysis-based molecular recycling platform (Cosmos) for polyesters. Competes in the food-grade recycled feedstock segment that Greenback targets with π-Oil, but as part of a much larger chemicals portfolio.
• Veolia (Recycling & Waste): Global environmental services leader operating mechanical recycling facilities and investing in advanced plastic recycling. Competes with Greenback for both upstream feedstock and downstream offtake relationships, though at vastly larger scale and broader scope.
• BASF (ChemCycling): Global chemicals major operating the ChemCycling initiative, which supplies pyrolysis oil-derived feedstocks for plastics production. Targets the same petrochemical and CPG customers as Greenback with much larger capital and offtake capabilities.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/greenbackrecycl

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Greenback Recycling Technologies