GET A PIECE OF NEWBIN
The solution to the plastic waste crisis is right in your pocket
$268,970.25 Raised
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.
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.
THE MARKET
Tapping into the 90% of post-use plastic not being recycled by traditional waste collectors
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.
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.
ABOUT
HEADQUARTERS
1001 State Street, Suite 907
Erie, PA 16501
WEBSITE
View Site
newBin is a free, on-demand gig-economy curbside recycling service that promises to reduce plastic in landfills.
TEAM
Mitch Hecht
Founder and Chief Executive Officer
Christopher Dow
President and Chief Operating Officer
Yannick Lord
Chief Technology Officer
Ashley Heilmann
Treasurer and Secretary
Juliette Morris
Director
Andrew Reddyhoff
Director
Eric Schaffner
Director
TERMS
newBin
Overview
PRICE PER SHARE
$5
DEADLINE
Apr 13, 2022
VALUATION
$25M
FUNDING GOAL
$10k - $1.05M
Breakdown
MIN INVESTMENT
$100
MAX INVESTMENT
$107,000
MIN NUMBER OF SHARES OFFERED
2,000
MAX NUMBER OF SHARES OFFERED
210,000
OFFERING TYPE
Equity
ASSET TYPE
Common Stock
SHARES OFFERED
Common Stock
Maximum Number of Shares Offered subject to adjustment for bonus shares
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.
ALL UPDATES
REWARDS
JOIN THE DISCUSSION
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WILLIAM SMITH
a year ago
PLEASE COMPLETE THIS RIDICULOUS INITIATION PROCESS
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Connor Wyckoff
2 years ago
I am interested in when you will be accepting applications for drivers to pick up.
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Monica Butschek
2 years ago
Very promising endeavor! Have you received backing from any banks or VCs at all?
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Jerry Irwin
2 years ago
Mitch, if you're not familiar with them check out ARQLITE.com; let me know what you think of the possible synergy with them; I'm thinking win-win
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Zoe M
2 years ago
Hi! I’m still new to investing and I was warned about companies who go under/in debt can have their investors co-sign and pay off their debts. Does your company do this? I read through the paperwork but I wanted to make sure! Thanks
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Nigel Singh
2 years ago
What are the long term plans to address the needs in the non recycling friendly states (e.g. Tx) where there are high volumes generated with little government financial incentive to recycle plastics, few collection centers and near zero actual companies making the collected plastics into reuseable. tangible products?
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Michael Nadler
2 years ago
How do you plan to make money as a company? You have plans to revenue stream taking in garbage? How? What am I missing here?
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Douglas Sullivan
2 years ago
Here is part of the problem in CA https://www.calrecycle.ca.gov/bevcontainer/bevdistman/plasticcontent/
Assemble Bill 793 is nothing more than a "slap on the wrist" for the beverage industry. If local governments would mandate the full CRV "redemption" and your Gig platform was linked up to this full redemption, perhaps ROI would encourage network participation at a scalable level. At 5-10 cent per container with some type of crushed container bin. A bag of 100 10 cent plastics would be $10. Just a thought.
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Douglas Sullivan
2 years ago
Why is California considered environmentally responsible? We PAY 5-10 cents per bottle yet we don't have an effective redemption programs. Now we also pay for plastic bags too. In other States and other countries, redemption is redeemed by the store that collects this . Perhaps this could change our inefficient process that has continued to fail the reduction of plastic waste?
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HOW INVESTING WORKS
Cancel anytime before 48 hours before a rolling close or the offering end date.
WHY STARTENGINE?
REWARDS
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SECURE
Your info is your info. We take pride in keeping it that way!
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With Regulation A+, a non-accredited investor can only invest a maximum of 10% of their annual income or 10% of their net worth per year, whichever is greater. There are no restrictions for accredited investors.
With Regulation Crowdfunding, non-accredited investors with an annual income or net worth less than $124,000, are limited to invest a maximum of 5% of the greater of those two amounts. For those with an annual income and net worth greater than $124,000, he/she is limited to investing 10% of the greater of the two amounts.
At the close of an offering, all investors whose funds have “cleared” by this time will be included in the disbursement. At this time, each investor will receive an email from StartEngine with their Countersigned Subscription Agreement, which will serve as their proof of purchase moving forward.
Please keep in mind that a company can conduct a series of “closes” or withdrawals of funds throughout the duration of the campaign. If you are included in that withdrawal period, you will be emailed your countersigned subscription agreement and proof of purchase immediately following that withdrawal.
StartEngine assists companies in raising capital, and once the offering is closed, we are no longer involved with whether the company chooses to list shares on a secondary market, or what occurs thereafter. Therefore, StartEngine has no control or insight into your investment after the close of the live offering. In addition, we are not permitted to provide financial advice. You may want to contact a financial professional to discuss possible investment outcomes.
For Regulation Crowdfunding, investors are able to cancel their investment at any point throughout the campaign up until 48 hours before the closing of the offering. Note: If the company does a rolling close, they will post an update to their current investors, giving them the opportunity to cancel during this timeframe. If you do not cancel within this 5-day timeframe, your funds will be invested in the company, and you will no longer be able to cancel the investment. If your funds show as ‘Invested’ on your account dashboard, your investment can no longer be canceled.
For Regulation A+, StartEngine allows for a four-hour cancelation period. Once the four-hour window has passed, it is up to each company to set their own cancelation policy. You may find the company’s cancelation policy in the company’s offering circular.
Once your investment is canceled, there is a 10-day clearing period (from the date your investment was submitted). After your funds have cleared the bank, you will receive your refund within 10 business days.
Refunds that are made through ACH payments can take up to 10 business days to clear. Unfortunately, we are at the mercy of the bank, but we will do everything we can to get you your refund as soon as possible. However, every investment needs to go through the clearing process in order to get sent back to the account associated with the investment.
Both Title III (Regulation Crowdfunding) and Title IV (Reg A+) help entrepreneurs crowdfund capital investments from unaccredited and accredited investors. The differences between these regulations are related to the investor limitations, the differing amounts of money companies are permitted to raise, and differing disclosure and filing requirements. To learn more about Regulation Crowdfunding, click here, and for Regulation A+, click here.
Steve Mills
a year ago
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