You Can Turn Plastic Bottles And Aluminum Cans Into Gold With This Local Vending Machine
A new recycling campaign is launching this July and it will give Malaysians gold in exchange for one plastic bottle or aluminium can
Local fintech company HelloGold has partnered with KLEAN reverse-vending machines to embark on a recycling campaign that will give Malaysians 0.00059 grams of investment-grade gold in exchange for a plastic bottle or aluminium can.
The exchange will be available at 40 dedicated machines across the Klang Valley by July. The company is looking to install 500 more nationwide by year-end.
To successfully complete the exchange, users are required to download the HelloGold app and register for an account.
Users will get in-app credits after depositing their trash into the machine, after which they can choose to convert the credits into gold.
VulcanPost reported that users won't be able to see or hold the gold in person as it will be stored safely in a vault in Singapore.
Both companies are hoping that this campaign will encourage Malaysians to recycle more
"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 CEO and co-founder of HelloGold, Robin Lee.
Nick Boden, CEO of KLEAN reiterated on Lee's point, "Plastic waste is increasing around the world, yet recycling rates remain low. Through this partnership, we aim to encourage greater recycling by showing Malaysians the potential wealth and money that lies around our communities, in our landfills and floats in our oceans."
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