HelloGold partners KLEAN to turn plastic to gold

26 Mar 2018 / 20:31 H.

    PETALING JAYA: Malaysians will able to earn gold recycling their plastic bottles and aluminium cans soon, through a collaboration between fintech firm HelloGold and local reverse-vending machine (RVM) company KLEAN.
    KLEAN will offer 0.00059 grams of investment-grade gold for each recycled plastic bottle and each aluminium can.
    In order to earn gold, one can download the HelloGold app from the Google Play Store or Apple Store and register for an account.
    Once registered, users can bring their plastic bottles and aluminium cans to any KLEAN RVM for recycling.
    “After depositing the bottles or cans in the machine, users can choose to convert their KLEAN e-credits into gold through a seamless integration between the KLEAN digital wallet and the HelloGold mobile app.”
    HelloGold said users can also register for an account at any of the 40 machines that will be available across Klang Valley in July, and 500 machines across Malaysia at key locations by the end of the year.
    The KLEAN RVMs collect aluminium cans and plastic bottles, sort and crush on site, while registering users and rewarding them with virtual points. These collected items are then smelted back into aluminium in the case of cans and recycled into PET pellets in the case of plastic bottles. 
    “Emerging economies across Asia are dealing with increasing plastic use and consumption. Without adequate recycling infrastructure or habits in place, these plastics end up in landfills and oceans destroying the environment. HelloGold’s partnership with KLEAN will incentivise people to clean up the environment, while accessing new financial products such as gold,” said Hello Gold CEO and co-founder Robin Lee.
    Meanwhile, KLEAN CEO Nick Boden said after the launch in Malaysia, the company sees great potential to expand its offering to other countries such as Singapore and South Africa.
    “In countries such as South Africa, plastic scavenging is often the main source of income for families who must sell their plastic within an informal economy that is dominated by middle men with high fees. Enabling these families to directly access virtual currency or gold at KLEAN’s reverse vending machines will allow for a safer and more stable economic livelihood.”


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