With the tagline “instant cash for phones” the ecoATM kiosk’s use theAxeda cloud platform and built in diagnostic tools to analyze the condition and quality of old consumer devices (currently targeting cellphones) and give users cash on the spot for their used electronics saving them from years of sitting in the junk drawer of your house and out of landfills creating toxic eWaste.
The company focuses on both re-use of the old devices as well as recycling them.
“By creating a convenient and aggregated method of collecting/shipping devices, ecoATM can efficiently get them to their next user. ecoATM ships devices for re-use in volume to refurbishment companies that sell them to consumers worldwide.” If the devices can not be resold then they are sent into their recycling service Umicore that operates an eco-friendly smelting facility for materials reclamation.
“Basically, the phones are melted down for their metals, which are recovered and reused, could become jewelry, or new devices etc. The process protects the environment by reusing the metals so we don’t have to mine more – the impact is about three tons (6,545 pounds or so per phone) of mining waste mitigated.”
Currently there are about 50 of these devices located in California but the company has raised a venture round of over 14 million dollars to continue expanding the market into other regions.
Image Credits: ecoATM