400 million tonnes of plastic is produced every year, and only 9% of it is recycled. The immensity of this problem prompted my team at Babson Summer Study to work on a circular waste management solution called PlanetVend. PlanetVend is a vending machine that provides customers with quality eco-friendly products for the equivalent of their plastic waste. We propose to offer eco-friendly products like bamboo toothbrushes, metal straws, cloth shopping bags, reusable water bottles, NOHBO balls and healthy granola bars. We plan to install our machines in airports, shopping malls, metro and bus stations, schools and universities, hospitals and clinics, office spaces, hotels, sport places, and places with a lot of tourists.
We discovered that the market size for green products in 2022 was valued at an estimated $14 billion. Since then, there has been a 16% increase in the value of the market and currently in 2023 is valued at an estimated $17 billion. It is also estimated that by 2030, the market will grow up to $62 billion. This showed us the immense potential for market expansion.
What will we do with the plastic waste we collect? Using the plastic bags, we will make backpacks and storage containers. Plastic straws will be turned into brooms and baskets. The plastic bottles, through a partnership with the EcoBrick Alliance, will be used as a raw material for making plastic bricks.
Below is a look at what our next steps are:
Plastic pollution causes so many problems! Let¡¯s work towards a more sustainable future, because together, we can rewrite the narrative of this huge issue, from pollution to solution. Will you join Planetvend in doing so?
This solution was designed and pitched by Muhammad Musa, Alex Sun, Ksenija Stepuro, Theodosee Topaloff, and Deeksha Ravi. We are grateful for the support of our mentors, Mr. Robert Bonnevie and Mr. Kartik Thakar.
