Firm Raised Money to Install Recycling Machines in China

As reported by media, the Chinese online smart recycling platform Xiaohuanggou has raised money (converted in about 164 million US-Dollar) from Beijing-headquartered asset management firm Zhongzhi Enterprise Group.

The company, established in 2017, belongs to Paithink Group, an investment company, and intends to place one million recycling stations across the People’s Republic of China in the next three years. According to the information, it places smart garbage recycling machines close to residential areas, hotels and business centers. With Xiaohuanggou’s app and WeChat mini-program, users could locate the nearby recycling stations with machines for different types of waste. The machine would automatically weight the garbage and pay users by cash. Afterward, the waste is sent to specialized recycling organizations.

GR 3/2018