The Larry H. Miller Company Invests in Recyclops to Expedite Waste Reduction in Utah

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Jun 16, 2022, 16:00 ET

Local Technology Startup Revolutionizing National Recycling Industry New Program, Recyclops+, Collects Hard-to-Recycle Materials from Wasatch Front Homes

SANDY, Utah, June 16, 2022 /PRNewswire/ -- The Larry H. Miller Company (the LHM Company) announced it has invested in Recyclops Inc., a Utah technology startup that innovates sustainability solutions, starting with recycling. Launched in 2014, Recyclops applies technology to environmental logistics, collecting hard-to-recycle (HTR) materials and scaling recycling in rural areas.

Additionally, the LHM Company announces a partnership with Recyclops to use its service in its operating businesses and residential community developments to improve sustainability efforts in recycling and reuse.

Nearly 40 percent of American households do not have access to convenient recycling. Additionally, existing programs are only able to recycle 10-45 percent of household waste.

The LHM Company's investment also supports Recyclops' introduction of a new, beyond-the-bin recycling service, Recyclops+, for materials such as plastic fruit and salad containers, film and bags; lightbulbs; batteries; polystyrene foam; and textiles and clothing. Recyclops+ will collect, transport, reuse and recycle HTR materials from homes along the Wasatch Front, specifically in Salt Lake and Utah counties.

Ryan Smith, founder and CEO of Recyclops Inc., is committed to his mission to make sustainability a convenient reality in an accessible manner. "The Larry H. Miller Company's mission to enrich lives is something that resonates deeply with Recyclops and what we've set out to do as a company," said Smith. "I am thrilled to have the LHM Company as an investor in our seed round. Their growth capital will help us expand our service. We look forward to working with such a pillar in the community."

"The LHM Company is excited to invest in Recyclops and the team Ryan has built. We believe in their service offering and its potential to not only grow as a business but to offer an innovative approach and encourage stewardship," said Dave Smith, Chief Strategy Officer for the LHM Company. "Recyclops is delivering easy-to-use solutions to homeowners and businesses, ensuring we reduce the amount of waste in our landfills and oceans and expanding recycling to materials that weren't available under conventional methods."

Recylclops+ allows subscribing customers to place materials on their porch for easy every other week pickup. Visit www.recyclops.com/plus to learn more about quarterly and annual rates.

About the Larry H. Miller Company

Headquartered in Sandy, Utah, the Larry H. Miller Company (the LHM Company) is a privately-owned business with operations located mainly across the western United States. As a portfolio of companies and investments, the LHM Company's focus falls within the primary categories of real estate, health care, finance, entertainment, sports, and long-term strategy and investments, as well as philanthropy. For more information about the Larry H. Miller Company, visit www.lhm.com.

About Recyclops

Recyclops is a technology startup that innovates environmental sustainability solutions. It is tackling recycling challenges by innovating solutions to make it easier, more convenient and accessible especially to those who don't have recycling near them and for materials that are difficult to recycle.

Recyclops, founded by Ryan Smith, launched in 2014 as the first to apply technology to environmental logistics and bring recycling to areas where it didn't previously exist, and at scale. Recyclops also partners with organizations to develop solutions to unsolved sustainability issues. The company has eliminated many of the logistical problems that have previously kept recycling from rural and dense urban areas.

Its mission is to build a circular economy through green tech and lean logistics and to bring sustainable lifestyle solutions to all. Recyclops aims to create a zero-waste reality and continue to divert waste from the landfills, nature and oceans. Recyclops is in 30 different states and in 2021 enabled families to recycle and reuse over 1,475,465 pounds of waste, diverting it from landfills.

SOURCE The Larry H. Miller Company