HELLENIC RECOVERY RECYCLING CORPORATION

What HELLENIC RECOVERY RECYCLING CORPORATION does

Hellenic Recovery Recycling Corporation (HERRCO, also known as EEAA / Ελληνική Εταιρεία Αξιοποίησης Ανακύκλωσης) is a Greek societe anonyme (S.A.) founded in 2003 to operate the country's licensed collective alternative management system for packaging waste, authorized by the Hellenic Recycling Organization (EOAN) under Law 2939/01 (later replaced by Law 4819/2021). The company's core infrastructure is the dual-stream Blue Bin network (180,000 units for paper, plastic, aluminium, tin-plate and glass packaging) and the Blue Bell network (10,800 specialised containers for glass packaging from bars, restaurants, hotels and entertainment venues), supported by 35 Material Recovery Facilities (MRFs) and a fleet of 544 collection vehicles that completed more than 130,000 routes in 2024. A dedicated web-based Declaration Submission portal (declarations.herrco.gr) is provided to contracted business members for calculating and filing mandatory regulatory declarations, and pilots such as five Reverse Vending Machines in supermarket chains and a Smart Bins mobile application extend the technology surface.

HERRCO monetises the system through two principal streams: (1) recurring annual membership contributions from legally obligated packaging operators (manufacturers, importers and brand owners) calculated by type and quantity of packaging declared, approved by the Hellenic Ministry of Environment and Energy (YPEN) and adjustable annually based on secondary material market prices; and (2) the sale of sorted secondary materials (paper, PET, HDPE, mixed plastics, PE film, glass, iron, aluminium) recovered at the MRFs. As a cost-recovery non-profit collective, no dividends are paid. As of December 2025, the system had signed cooperation contracts with 3,936 businesses (with food and beverage representing roughly 60% of contribution volume), partnered with 94% of Greek municipalities (covering 99% of the population and approximately 10.4 million residents), and achieved 505,000 tonnes of packaging recycling in 2024 — 152% of its 330,000-tonne legal obligation and a 7% increase over 2023. Cumulative infrastructure and operating investment since inception stands at approximately €426 million, supporting 5,100 direct and indirect jobs.

The organisation's strategic agenda now centres on operational modernisation through AI-driven sorting and data analytics (presented at Verde.Tec 2026), expanding the contribution-paying base to address a 44% evasion rate flagged by the Hellenic Recycling Agency (€27+ million annual leakage), and deepening coverage in tourism, events and commercial segments via pilots such as PET collection in hotels and islands, RVMs, and large-scale event recycling partnerships with SEGAS, IRONMAN and major cultural venues.

Name

HELLENIC RECOVERY RECYCLING CORPORATION

Legal name

Hellenic Recovery Recycling Corporation S.A. (Ελληνική Εταιρεία Αξιοποίησης-Ανακύκλωσης Α.Ε.)

Website

https://herrco.gr

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

11–50 employees

Short description

HERRCO (Hellenic Recovery Recycling Corporation) operates Greece's licensed packaging waste recovery system, running the Blue Bin and Blue Bell collection networks through 94% of Greek municipalities to serve obligated packaging operators, commercial venues, and approximately 10.4 million citizens.

Ownership category

akta.pro rank

Product category

Packaging Recycling & Waste Management Services

NAICS

Materials Recovery Facilities (56292)

SIC

Sanitary Services (4950)

akta.pro primary industry

Packaging Recovery & Closed-Loop Programs (Take-Back, Deposit-Return, EPR Support) (IMALAMAF)

akta.pro secondary industries

Sustainability Testing, Certification & Compliance (LCA, Recyclability/Compostability Testing, FSC/PEFC) (IMALAMAK), Reusable Packaging & Container Return Programs (On-site) (BPABALAJ), Recyclables Transfer & Consolidation (Single/Source-Separated) (BPALABAD)

Keywords

• Packaging recycling services
• Waste management systems
• Producer responsibility organization
• Materials recovery facilities
• Collection infrastructure

Headquarters

HQ city

Maroussi

HQ country

Greece

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Membership Contributions from Obligated Packaging Operators: HERRCO generates revenue through financial contributions (membership fees) paid by legally obligated packaging operators — manufacturers, importers, and brand owners who place packaged products on the Greek market. These contributions fund the Alternative Management System's operational expenses and infrastructure investments. Contributions are calculated based on the type and quantity of packaging materials placed on the market. The contribution is not fixed and may be adjusted annually based on secondary material market prices and approved by YPEN. The system also grants use of the European 'Green Dot' trademark as part of the membership.
2. Sale of Sorted Recyclable Materials: HERRCO's network of Material Recovery Facilities sorts collected packaging waste into secondary materials (paper/cardboard, PET, HDPE, mixed plastics, PE film, glass, iron, aluminium) which are then baled (except glass) and sold to licensed recyclers and secondary market recipients. Revenue from material sales offsets operational costs of the collection system.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels8 records

Core offering

HERRCO operates Greece's licensed national packaging recycling system, providing mandatory collection, sorting, and recycling services on behalf of obligated packaging operators. The core offering consists of two infrastructure networks — Blue Bins (180,000 units for paper, plastic, aluminium, and tin-plate packaging) and Blue Bells (10,800 units dedicated to glass packaging) — supported by 35 Material Recovery Facilities and a fleet of 544 collection vehicles covering 94% of Greek municipalities. Contracted businesses access the Declaration Submission web portal to calculate contributions and submit regulatory packaging declarations, in exchange for compliance with Law 2939/01 (Law 4819/2021) and the right to use the European Green Dot trademark.

Product overview

HELLENIC RECOVERY RECYCLING CORPORATION (HERRCO/ΕΕΑΑ) operates as Greece's primary packaging recycling organization, managing a comprehensive national recycling infrastructure centered on two core collection systems: the Blue Bin System for mixed packaging (paper, plastic, aluminum, tin-plate) and the Blue Bell System for glass packaging. The company also provides an online Declaration Submission Application for businesses to report packaging quantities, operates pilot projects including PET collection programs and Reverse Vending Machines, and conducts public awareness campaigns. With 180,000 Blue Bins, 10,800 Blue Bells, 35 Material Recovery Centers, and a fleet of 544 vehicles, the system covers 94% of Greek municipalities and 99% of the population, processing over 505,000 tonnes of packaging waste annually (152% of legal obligation).

Differentiator

Problem solved

Functional benefit

Brands

• Blue Bins (Μπλε Κάδοι): The primary household packaging waste collection system accepting paper, plastic, aluminium, tin-plate, and glass packaging.
• Blue Bells (Μπλε Κώδωνες)
• Smart Bins Application

Products and services

• Blue Bin System (Μπλε Κάδοι) The primary household and public-space packaging recycling collection system. 180,000 Blue Bins are deployed across Greece, accepting paper, plastic, aluminium, tin-plate, and glass packaging. Collected materials are transported to Material Recovery Facilities for sorting and recycling.
• Blue Bell System (Μπλε Κώδωνες) A dedicated glass packaging recycling stream using large bell-shaped containers placed in public spaces and at commercial establishments such as hotels, restaurants, and entertainment venues. Over 10,800 Blue Bells serve approximately 23,000 businesses nationwide.
• Declaration Submission Application

Quantifiable outcome

• 505,000 tonnes of packaging materials recycled in 2024 (152% of 330,000-tonne legal target), plus ~51,000 additional tonnes of other recyclables
• +6 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature5 records

Partnerships

Twelve partnerships are on record, tiered minor, flagship and core.

• 5th Attica Green ExpominorGTM or Marketing Partner · 27 May 2026HERRCO participated in the 5th Attica Green Expo (27-30 May 2026) at the Tae Kwon Do Olympic Arena in Palaio Faliro. The expo is a leading platform for sustainable development bringing together citizens, government, municipalities, organizations, and businesses focused on environment, recycling, green energy, and circular economy.
• ROBENSOminorStrategic or Co-development Partner · 27 February 2026HERRCO's General Manager participated in a ROBENSO-organized panel discussion at the 8th Verde.Tec International Exhibition on the modernization of waste treatment facilities through artificial intelligence, highlighting HERRCO's strategic commitment to AI-driven operational modernization.
• 8th Verde.Tec International ExhibitionminorGTM or Marketing Partner · 27 February 2026HERRCO participated in the 8th Verde.Tec International Exhibition (27 Feb – 1 Mar 2026) at the Mediterranean Exhibition Centre in Paiania, Greece's leading event for environment, circular economy, and green development. Showcased AI-driven sorting technology and the Blue Bin/Bell system impact.
• Hellenic Athletics Association (SEGAS)flagshipGTM or Marketing Partner · 1 January 2026SEGAS partners with HERRCO for the Athens Authentic Marathon. HERRCO installs 100 Blue Bins at Marathonas and the Panathenaic Stadium, provides 1,500 recycling bags at refreshment stations, and manages collection and recovery of packaging materials along race routes. Approximately 700,000 water, isotonic, and juice bottles are managed per event.
• 11th Delphi Economic ForumminorGTM or Marketing Partner · 1 January 2026HERRCO participated in the 11th Delphi Economic Forum for the 6th consecutive year, reaffirming its leading role in packaging waste management. Chairman Michael E. Economakis participated in the panel 'Recharting Greece's Waste & Circular Map'.
• PPC IRONMAN 70.3 Costa Navarino / IronKids PeloponneseflagshipGTM or Marketing Partner · 24 October 2025HERRCO served as Title Sponsor of IronKids Peloponnese 2025 and proud supporter of IRONMAN 70.3 Costa Navarino in Peloponnese, Greece (24-26 October). The partnership included an interactive booth at the IRONMAN Expo Area, children's activities, and collection of 12,000 plastic water bottles for recycling. Reached 1,500 athletes, 500 volunteers, and 4,000+ spectators.
• Central Union of Municipalities of Greece (KEDE)coreStrategic or Co-development PartnerKEDE is a key strategic partner in HERRCO's municipal cooperation framework. The partnership enables the nationwide expansion and operation of the Blue Bin and Blue Bell recycling programmes across Greek municipalities, with HERRCO providing equipment and planning while municipalities handle collection operations.
• 94% of Greek Municipalities (OTAs)coreChannel Partner/ Reseller/ DistributorMunicipalities across Greece sign cooperation agreements with HERRCO to implement the Blue Bin packaging recycling programme. Municipalities handle the day-to-day collection of blue bins and bear responsibility for waste residue management. HERRCO provides bins, vehicles, and planning support.
• DEDISA (Inter-municipal Solid Waste Management Company SA)coreStrategic or Co-development PartnerDEDISA operates the MRF serving municipalities of Chania and Rethymno in Crete. The partnership operates two streams: glass (360lt yellow/blue bins and bells) and other packagings (660 or 1,100lt blue bins). HERRCO provides financial support for glass transport to Attica.
• DIADYMA – Waste Management of Western Macedonia SAcoreStrategic or Co-development PartnerDIADYMA operates a four-stream network (paper, glass, plastic, metals) across 12 municipalities in Western Macedonia. HERRCO supports the collection infrastructure with bins for each stream (1,067 paper bins, 939 plastic bins, 741 metal bins, 821 glass bins, and 188 bells). Materials are processed at DIADYMA's MRF in Kozani.
• DIAMATH SAcoreStrategic or Co-development PartnerDIAMATH SA implements separate paper/cardboard collection streams in the Regional Units of Evros, Drama, Kavala, and Rodopi in cooperation with local municipalities. HERRCO supplies bins and provides financial support for operations.
• 35 Material Recovery Facilities (MRFs) / Recycling Sorting CenterscoreChannel Partner/ Reseller/ DistributorHERRCO operates through 35 Material Recovery Facilities across Greece, including facilities operated by contracted private companies and inter-municipal waste management bodies. These MRFs sort collected blue bin materials into secondary materials (paper/cardboard, PET, HDPE, mixed plastics, PE film, glass, iron, aluminium) for sale to recyclers.

Scale indicators14 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Ecoembes: Spanish non-profit PRO for packaging waste management, managing the blue container recycling system across Spain. Direct functional counterpart to HERRCO with the same EPR-driven, member-contribution-funded business model.
• Citeo: Approved French PRO for household packaging recycling, created by and for companies to meet their EPR obligations. Operates the French equivalent of HERRCO's Blue Bin system, with comparable member-fee revenue model and Green Dot licensing.
• EKO-KOM: Czech non-profit PRO for packaging waste recycling, funded by contributions from producers/importers under Czech EPR law. Operates the Czech equivalent of the Blue Bin system with member-fee and material-sales revenue model.
• ARA (Altstoff Recycling Austria): Austrian non-profit PRO for packaging and waste management, organizing collection and recycling of household packaging. Operates under Austrian EPR law with the same member-contribution and Green Dot licensing model as HERRCO.
• Fost Plus: Belgian non-profit PRO responsible for household packaging recycling, organizing collection, sorting and recycling of PMD and paper/cardboard. Operates with identical EPR-based contribution revenue model to HERRCO.
• Duales System Deutschland (Grüner Punkt / Verpackungsregister): Germany's foundational packaging recovery system and owner/manager of the European Green Dot trademark system. Closest functional analogue to HERRCO, including the Green Dot licensing relationship that HERRCO itself sub-licenses.
• Verpact (formerly Nedvang): Dutch packaging PRO coordinating collection and recycling of plastic, metal and paper packaging in the Netherlands. EPR-based contribution revenue from obligated producers, directly comparable to HERRCO's Greek system.
• REPAK: Irish non-profit PRO for packaging waste recovery, funded by member contributions from obligated producers. Same legal structure (non-profit company limited by guarantee) and same EPR-driven, Green Dot-licensed business model as HERRCO.
• CONAI (Consorzio Nazionale Imballaggi): Italian non-profit consortium system for packaging waste recovery and recycling. Operates a parallel material-stream structure (steel, paper, plastic, wood, glass) under Italian EPR law, with revenue from member contributions and sale of secondary materials.

Broad incumbents

• Interseroh: Germany-based environmental services provider offering packaging licensing, recycling and raw materials trading. Competes with DSD on Green Dot licensing and overlaps with HERRCO's EPR service offering but operates as a broader commercial environmental services player rather than a single-country collective PRO.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCXb7xNK6bQ
• Facebookfacebook.com/EEAA.HERRCO
• LinkedInlinkedin.com/company/hellenic-recovery-recycling-corporation
• Instagraminstagram.com/herrco_official

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about HELLENIC RECOVERY RECYCLING CORPORATION