Terracycle, Inc

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TerraCycle is a private U.S. small business headquartered in Trenton, New Jersey. It makes consumer products from pre-consumer and post-consumer waste ("upcycling") and by reusing other waste materials. The company is known for its environmentally friendly aspects. TerraCycle was founded by Tom Szaky and Jon Beyer in the fall of 2001. In 2002, the company bought a $20,000 continuous flow composting system invented by Harry Windle of Gainesville, Florida, to take organic waste and have it processed by worms into fertilizer. The first waste used came from the dining halls of Princeton University. Initial funding came from family and friends of Tom Szaky and Jon Beyer as well as awards from business plan contests. TerraCycle received media attention when it turned down a one million dollar venture investment opportunity awarded through the Carrot Capital Business Plan because the investors planned to change TerraCycles business model. Further funding came from private investors. The first investor was Suman Sinha, who gave $2,000 in exchange for 1% of the company stock.