Page 32 - Plastics News April 2018

FeAtures

Malaysia first to offer gold in exchange for recycled plastics and cans

A program that includes launching 500 reverse vending machines in Malaysia offering 0.00059g of
investment-grade gold for each recycled plastic bottle and each aluminium Can

alaysians will soon be the first to earn gold by everyone access to safe and affordable gold products
Mrecycling their plastic bottles and aluminium cans. to protect their savings, HelloGold has been expanding
Yes this is for the Southeast Asian fintech firm HelloGold our reach to millions of online and offline communities
and Malaysia’s reverse-vending machine (RVM) company through key partnerships such as Axiata’s Boost and Aeon
KLEAN are implementing a recycling scheme that offers Credit. Our latest partnership with KLEAN reflects our
Malaysians 0.00059 grams of investment-grade gold for shared values in using innovative technology to enable
each recycled plastic bottle and each aluminium can. financial inclusion and wealth creation for the man on
the street,” Lee concluded.
Anyone can start earning gold by first downloading the
HelloGold app from the Google Play Store or Apple Store KLEAN CEO Nick Boden, said, “Plastic waste is increasing
and registering for an account. Once registered, users can around the world, yet recycling rates remain low.
bring their plastic bottles and aluminum cans to any KLEAN Through this partnership, we aim to encourage greater
RVM for recycling. After depositing the bottles or cans in recycling by showing Malaysians the potential wealth and
the machine, users can choose to convert their KLEAN money that lies around our communities, in our landfills
e-credits into gold through a seamless integration between and floats in our oceans.”
the KLEAN digital wallet and the HelloGold mobile app.
“After launching in Malaysia, we see great potential
Users can also register for an account at any of the forty to expand our offering to other countries such as
machines that will be available across Klang Valley in July, Singapore and South Africa. In countries such as South
and 500 machines across Malaysia at key locations before Africa, plastic scavenging is often the main source of
the end of the year. income for families who must sell their plastic within
an informal economy that is dominated by middle men
HelloGold CEO and Co-founder Robin Lee , said,
with high fees. Enabling these families to directly access
“Emerging economies
virtual currency or gold at KLEAN’s reverse vending
across Asia are dealing
machines will allow for a safer and more stable economic
with increasing plastic
livelihood.”
use and consumption.
W itho ut adequate The KLEAN Reverse Vending Machines collect aluminium
recycling infrastructure cans and plastic bottles, sort and crush on site, while
or habits in place, these registering users and rewarding them with virtual
plastics end up in landfills points. These collected items are then smelted back
and oceans destroying the into aluminium in the case of cans and recycled into
environment. HelloGold’s PET pellets in the case of plastic bottles.
partnership with KLEAN According to Reuters, imports of plastic waste have
will incentivise people to increased sharply in Southeast Asia following China's
clean up the environment, decision to ban imports of plastic waste from the start
while accessing new of 2018. Malaysia’s plastic imports jumped from 288,000
financial products such tonnes in 2016 to 450,000 tonnes in 2017; in the same
as gold.”
period, Vietnam’s imports rose 62%, Thailand’s 117%,
“In our mission to enable and Indonesia’s 65

Plastics News April 2018 32