newBin

The solution to the plastic waste crisis is right in your pocket

newBin

The solution to the plastic waste crisis is right in your pocket

Erie, PA
Environment
Clean Technology
newBin is a free, on-demand gig-economy curbside recycling service that promises to reduce plastic in landfills.

$187,640

raised
121
Investors
$25M
Valuation
$5.00
Price per Share
$100.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.05M
Offering Max
Reg CF
Offering

$187,640

raised
121
Investors
$25M
Valuation
$5.00
Price per Share
$100.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.05M
Offering Max
Reg CF
Offering

Rewards

Get rewarded for investing more into newBin:

$100+
Investment
StartEngine Owner’s Bonus
This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.
$100+
Investment
$100+ Tier
Recycled content branded grocery bag
$500+
Investment
$500+ Tier
Recycled content branded baseball hat + grocery bag + gym bag
$1,000+
Investment
$1,000+ Tier
Recycled content branded golf umbrella + hat + grocery bag + gym bag
$5,000+
Investment
$5,000+ Tier
5% bonus shares and all four items of swag
$10,000+
Investment
$10,000+ Tier
10% bonus shares and all four items of swag
$20,000+
Investment
$20,000+ Tier
20% bonus shares and all four items of swag

Reasons to Invest

Industry ripe for disruption: Only half of US households have access to curbside recycling and this current recycling method is ineffective and expensive.
Large addressable market with low technology risk.
Real sustainability impact potential.

OVERVIEW


The ‘gig-economy’ disruption of the curbside recycling system

newBin is on a mission to stop plastic waste that is piling up in our parks and our oceans. We are creating an app that brings recycling into the 21st century from your fingertips to real recyclers, and we tell you honestly how your plastic is being recycled. The newBin app will let users schedule recycling pickup at their convenience and earn Eco Rewards for discounts at local stores. newBin offers simple, no-sorting recycling that incentivizes Americans to recycle more. The newBin app is in beta stage of development and currently is not available on the market.

*The app is currently under development and not yet available on the market. These images are of a demo version.



We are a company founded by and for people who are passionate about the environment. Our senior team has decades of successful start-up and senior management experience in recycling, marketing and financing. Founder Mitch Hecht spent 15 years on Wall Street, 
was the Chief Financial Officer of a Fortune 500 company up to 1 year prior to the company’s eventual IPO in 2004. He has spent the past 14 years in plastics recycling developing aspects of the newBin system.



THE PROBLEM


Recycling isn’t straightforward

Only half of U.S. households have access to curbside recycling. Waste collection companies are charging ever-higher collection fees for recycling, leading many cities to cut back or end their recycling program altogether. Residents don't have control over whether their city provides recycling services and they don't have confidence that their recyclables won't end up in a landfill.


Even if curbside recycling is offered, residents have little confidence that the waste is actually being recycled. Waste collection companies limit the materials they will recycle.



THE SOLUTION


Using technology to simplify the process

newBin uses technology to provide a free, more effective recycling option. Once the app is completed, users - we call them Binnies - will be able to request a recycling pickup from the app. A newBin team member - we call these heroes our Binners - will pick up items and drop them off at newBin container locations. We do the sorting and Binnies receive Eco Rewards for their recycling - redeemable for discounts at local grocery stores, gas stations, and other participating retailers.


*The app is currently under development and not yet available on the market. These images are of a demo version.



We don't charge our Binnies a penny, we generate revenues from:

  • Marketing fees paid by our corporate partners to drive Binners and Binnies to redeem their Eco Rewards for their products and services.
  • Collection fees paid by commercial and institutional customers to collect waste plastic from their stores or institutions.
  • Service fees charged on every redemption of Eco Rewards.
  • Tipping fees paid by municipalities based on savings versus traditional curbside collection.

Currently less than 9% of the 35.7 million tons of post-use plastic generated yearly gets recycled. That's due to a lack of access. Even where people can participate, only about 40% of the material deemed recyclable makes it into the recycling bin. We are ready to disrupt this model making newBin an impactful and profitable investment.

Source


We offer free, on-demand collection of all plastic waste and promise a reduction in landfill. We'll take care of the sorting, which increases recycling participation, and set out to collect the 90% of post-use plastics being left behind by traditional waste collectors. Within seven years, we project that newBin can reduce landfill or incineration of plastics by one billion pounds a year.



OUR TRACTION


Partnership established with ZeLoop for Eco Rewards

We’ve done our homework, and are ready to scale up. We conducted market research, and created a study with a premier research firm to confirm the desire for this service and provided strategic direction on audience targeting and messaging. 

*The app is currently under development and not yet available on the market. These images are of a demo version.

Strong Milestones:

  • Established a partnership agreement with ZeLoop, a UAE-based social gesture app. ZeLoop's Eco Reward program allows users to leverage the Eco Reward blockchain currency, gamification and the social media platform.
  • We are developing an in-house resin sortation system. We will ensure that more plastic will have a non-landfill solution with third party verification.



WHY INVEST


Shifting consumer behavior to have a positive impact on the environment

Our goal at newBin is to change “wishcycling” to “realcycling”. We strive to be the leading on-demand private recycling choice in participating states. We will be recycling close to a billion pounds of plastic each year, with the objective to increase that amount fifty-fold.

*The app is currently under development and not yet available on the market. These images are of a demo version.


Offering Summary


Company

:

NewBin Corp.

Corporate Address

:

1001 State Street, Suite 907, Erie, PA 16501

Offering Minimum

:

$10,000.00

Offering Maximum

:

$1,050,000.00

Minimum Investment Amount

(per investor)

:

$100.00











Terms


Offering Type

:

Equity

Security Name

:

Common Stock

Minimum Number of Shares Offered

:

2,000

Maximum Number of Shares Offered

:

210,000

Price per Share

:

$5.00

Pre-Money Valuation

:

$25,000,000.00











Voting Rights of Securities Sold in this Offering

Each Subscriber shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Subscriber’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.

*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.

Investment Incentives and Bonuses*

Time-Based:

Friends and Family Early Birds

First 72 hours - 15% bonus shares

 

Super Early Bird Bonus

Next 72 hours - 10% bonus shares

 

Early Bird Bonus

Next 7 days - 5% bonus shares

 

Amount-Based:

$100+

1st Perk Title

Recycled content branded grocery bag 

 

$500+

2nd Perk Title

Recycled content branded baseball hat + grocery bag + gym bag

 

$1,000+

4th Perk Title

Recycled content branded golf umbrella + hat + grocery bag + gym bag

 

$5,000+

5th Perk Title

5% bonus shares and all four items of swag

 

$10,000+

6th Perk Title

10% bonus shares and all four items of swag

 

$20,000+

7th Perk Title

20% bonus shares and all four items of swag

*All perks occur when the offering is completed.

The 10% StartEngine Owners' Bonus

NewBin, Corp. will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.

This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Common Stock at $5.00/ share, you will receive 110 shares of Common Stock, meaning you'll own 110 shares for $500. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.

This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are cancelled or fail.

Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.

Irregular Use of Proceeds

We will not incur any irregular use of proceeds.

Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$0.00 USD
$0.00 USD
Cash And Cash Equivalents
$0.00 USD
$0.00 USD
Accounts Receivable
$0.00 USD
$0.00 USD
Short Term Debt
$0.00 USD
$0.00 USD
Long Term Debt
$0.00 USD
$0.00 USD
Revenues And Sales
$0.00 USD
$0.00 USD
Costs Of Goods Sold
$0.00 USD
$0.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
$0.00 USD
$0.00 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

In the News: EPA finalizes its first national recycling strategy

14 days ago


"On Monday, the Environmental Protection Agency finalized America’s first “national recycling strategy,” which aims to support the agency’s goal of achieving a 50 percent recycling rate by the end of the decade."

Notice of Funds Disbursement

16 days ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, newBin has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in newBin be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

One Month In!

20 days ago

We’re one month into our SE launch! It’s incredibly exciting that we’ve been able to raise more than $175,000 towards our goal of $500,000 this year and $1,000,000 by the end of the campaign. Thank you to all our friends and supporters who have invested to revolutionize plastics recycling collection.

Also, thank you to Penn State University’s Smeal School of Business for basing a marketing course on newBin’s business model!

PlastChicks Podcast Ep. #31

24 days ago

Check out PlastChick’s latest podcast to hear newBin’s founder, Mitch, and president, Chris, discuss the flaws in our recycling system, the plant they have planned for Erie, PA, and why we need to #newBinIt! Watch on YouTube or listen at 4spe.org/podcasts


In the News: US PET bottle recycling rate continues to sink

27 days ago


"Demand for RPET increased 10% in 2020, but it was accompanied by a decrease in PET bottle collection, according to an annual report from the National Association for PET Container Resources."

Employee Spotlight: Mitch Hecht, Founder and CEO

29 days ago


What's your biggest plastic pet peeve?  


The technology to recycle all plastics exists. But because the recycling collection infrastructure is broken, we are recycling less than 9%. Our consumer products companies and food industry need to design better for recycling. And we need to insist our trash haulers invest in the technology necessary to pick up and recycle every pound of our plastic.

 

What's your favorite eco "life hack"?  


Put on some gloves, clip a clothes pin on your nose, and do a study of your household trash at the end of the week. Separate by the plastic, metal, glass and organic waste. Then get on a scale with each type of item and determine the weight of each. Now consider ways like composting the organics and reducing single-use plastics that you can use to cut down the trash you put out to your curbside hauler by half.

 

What would you be doing if you weren't fighting plastic pollution? 


Thinking of a million other ways that I can do my own small part to leave this world just a little bit better—or at least no worse off—for future generations once I’m gone.

EcoReward Update

about 1 month ago
The EcoReward is now universal! 


We’re very excited to share the progress our partners at ZeLoop have made with their proof-of-stake blockchain-powered token. The EcoReward is now listed on XT.com and can be traded for Bitcoin and USDT!
Show More Updates End of Updates

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