EcoATM Raises £25m To Roll Out e-Waste Cashback Machines

February 19th, 2013 by Nicholas Brown

EcoATM raised £25 million ($40 million) in debt financing to deploy more of its e-waste machines across the United States. The mezzanine debt financing was obtained from Falcon Investment Advisors.

ecoATM Demonstration - Image obtained from ecoATM.com.

ecoATM Demonstration –
Image Credit: ecoATM.com.

These allow people to deposit their discarded cellphones and other electronics for recycling, and the machines in turn pay them.

EcoATM has already installed 300 machines in shopping centres in the US so that consumers and businesses can easily sell their old small electronics. The machines operate by examining the device and then finding the highest price for it on the market, then the owner decides whether or not they want to sell it for that price.

This new £25 million funding will allow EcoATM the chance to install these machines outside of larger cities.

EcoATM is a company based in San Diego, California, United States. You can find EcoATM locations here.

Source: Businessgreen.com

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Tags: e-waste machines, e-waste recycling, ecoATM, Machines that buy old phones, recycling, San Diego e-waste, San Diego recycling, united states

About the Author

Nicholas Brown writes on CleanTechnica, Gas2, Kleef&Co, and Green Building Elements. He has a keen interest in physics-intensive topics such as electricity generation, refrigeration and air conditioning technology, energy storage, and geography. His website is: Kompulsa.com.