Eureka Recycling Secures Over $10 Million in Financing Led by Closed Loop Partners

Eureka Recycling, an innovative nonprofit materials recovery facility (MRF) based in Minneapolis, Minnesota, has recently announced a substantial financing round exceeding $10 million.

This financing round is spearheaded by the Closed Loop Partners’ catalytic private credit arm, the Closed Loop Infrastructure Group, with additional support from American Beverage and The Recycling Partnership.

About Eureka Recycling

Eureka Recycling is a nonprofit Zero Waste organization and mission-based recycler in Minneapolis, MN. Dedicated to demonstrating that waste is preventable, Eureka engages in education, policy advocacy, and operational excellence.

Serving over 100,000 residents in the Twin Cities metro area, Eureka sorts approximately 100,000 tons of single-stream recycling annually at its MRF.

The organization’s commitment to Zero Waste and systemic change is further amplified through its founding membership in the Alliance of Mission-Based Recyclers (AMBR), which advocates for policies that reduce resource extraction, combat climate change, and support local communities.

Enhancing Resilience and Efficiency

“This loan funds key upgrades that bolster our resilience to changes in the recycling material stream and shifts in policy across the U.S.

The new equipment and technology will not only enhance the facility’s ability to sort recyclables effectively but also contribute to environmental preservation by reducing resource extraction and landfill disposal, while generating economic benefits for the municipalities it serves."

Miriam Holsinger, co-president and COO of Eureka Recycling

A Leader in Regional Recycling

Since its inception, Eureka Recycling has stood out as a best-in-class operator, showcasing the critical role of regional, independent recovery facilities in maintaining material circulation.

With strong local support in the Minneapolis-St. Paul area, Eureka processes over 100,000 tons of materials annually.

Strategic Financial Support

The $10 million-plus loan from Closed Loop Partners includes a significant contribution of $3 million from American Beverage and the Minnesota Beverage Association.

Additionally, The Recycling Partnership has provided a grant to support this project. These funds will facilitate essential infrastructure upgrades, enabling Eureka Recycling to collect, process, and return more valuable materials to supply chains, thus advancing a circular economy in the greater Minneapolis-St. Paul area.

This initiative will also support a cleaner community, generate revenue for cities and other clients, and sustain local jobs.

Building a Circular Economy

“Eureka’s work has consistently aligned with Closed Loop Partners’ broader mission to advance the circular economy since our partnership began with them nearly a decade ago.

This loan marks the fourth investment by Closed Loop Partners in Eureka Recycling over nearly ten years, underscoring their commitment to maintaining Eureka’s leading position in the region."

Jennifer Louie, Managing Director and Head of the Closed Loop Infrastructure Group

Adapting to Changing Market Dynamics

As market dynamics, policy shifts, and packaging trends evolve, the composition of materials processed by recycling facilities changes as well.

Investment in regional recycling infrastructure is crucial to adapting to these changes and meeting the growing demand for high-quality recycled materials.

The capital infusion will support the installation of additional optical sorters to reduce contamination and enhance the quality of recovered materials, including mixed paper, old corrugated cardboard, PET, aluminum, polyethylene, and polypropylene.

These upgrades are expected to significantly increase the annual collection of PET and aluminum by 222 and 248 tons, respectively, by 2025.