Ecoark Holdings Inc. of Rogers is using technology to bring retail consumers consistent pricing and offer manufacturers recycled raw material at a lower cost than virgin material, says CEO Randy May.
That’s possible because Ecoark is using technology to efficiently sort and refine waste, which is turned into recycled goods that aren’t a strain on natural resources, he said.
Ecoark claims it is making major strides in using technology to reduce waste and boost sustainability and profitability at a time when $11.5 billion worth of recyclable products are thrown into landfills each year. The company says 70 percent of that waste is recoverable plastic material that is worth more than $8 billion.
Ecoark has four portfolio companies — Magnolia Solar Inc., which has locations in Massachusetts and New York; Intelleflex of California, which has a regional office in Rogers; Eco3d of Arizona; and Pioneer Products of Rogers.
Ecoark recently acquired Sable Polymer Solutions and will merge it with Pioneer Products, which makes new products from retailers’ waste, including recycled resin trash cans that are being sold at 3,600 Wal-Mart stores across the country, according to Ecoark. Financial terms of the deal were not disclosed.
The most recent addition to Ecoark’s portfolio companies is Magnolia Solar, which May said is using nanotechnology to increase efficiency of existing solar panels.
Then there is Intelleflex’s Zest, a cloud-based data collection platform designed to keep food quality consistent, reduce waste and improve food safety, according to its website.
May said that technology allows for more visibility of a product throughout its life cycle, offering real-time feedback and predictive analytics so that manufacturers are “making the news” instead of reporting it.
May touted Eco3d as well. He said its recent digital scans of a cultural center in Kuwait were used to compile as-built plans for a client.
Eco3d provides as-built plans by capturing current conditions and creating accurate two-dimensional and three-dimensional documentation for clients, according to its website. May said Ecoark helps in the efficient delivery of Eco3d’s plans.
May also said Ecoark’s goal is to, with technology, improve supply chain logistics and offer sustainable “triple-bottom-line” products.
“What we believe at Ecoark is that it’s got to have the triple bottom line before we consider it. We don’t want something that’s being subsidized or, if in fact, it costs more than a traditional product,” he said. Their products also can’t be inferior, May said.
He also said Ecoark provides its portfolio companies the opportunity to collaborate with each other, so, for example, software engineers from Silicon Valley can work on solutions with scientists from New York.
There is also connectivity to the retail supply chain through Pioneer Products, he said.
May added that Ecoark opens doors and channels that may not have been accessible to the companies had they been operated independently.
One day, he envisions, technology will break down trade barriers and show manufacturers, transporters and customers where products come from and where they’ve been since. Reverse logistics is the next frontier, May said.
Sign up for Daily E-news
