The announcement in New York coincides with Think London and UKTI’s
North American business roadshow entitled the ‘Route to 2012’. The
roadshow is aimed at highlighting the business opportunities open in
London to North American companies, especially around the Olympic and
Paralympic Games in 2012.
Founded in 2001 by college freshman Tom Szaky, TerraCycle focuses on
building a new, more responsible way of doing business. In its native
US, it has revolutionized the industry by making eco-friendly and
affordable products from waste materials. On announcing its expansion
in to the UK, TerraCycle will also reveal details of its first
commercial partnership, with Kraft Foods UK which will see Kenco and
Tassimo coffee packaging diverted away from landfill.
Tom Szaky, founder and CEO of TerraCycle, comments, “It is with great
excitement that we’re announcing our expansion; having grown rapidly in
the US, we wanted to come to London and use the city as a launch pad to
build our business across the UK and Europe. With a partnership already
agreed with Kraft Foods UK we hope to quickly raise consumer awareness
in the UK around up-cycling.”
The Mayor of London, Boris Johnson, said: "It is not just a great
compliment, but also a wise decision for TerraCycle to choose London as
its base for European expansion. Our commitment to becoming one of the
planet's most environmentally friendly cities means we will create a
skills base in green technologies that will be the envy of the world,
and a magnet for other companies taking advantage of emerging
environmental markets. "
On top of that TerraCycle and its staff will receive a warm welcome in
our great city and all the help needed to ensure immediate success.
Despite the current economic climate we are continuing to invest
heavily in our infrastructure, and in our people, to provide a highly
trained pool of talent for the capital's businesses. I'm confident that
the future is extremely bright for innovative companies with global
ambitions, who choose to invest in London."
Michael Charlton, Chief Executive of Think London, said: “With $100m
being invested in new waste technologies London was clearly the natural
choice for TerraCycle to expand their operations into the UK. London
offers a wealth of business opportunities in the sustainable sector,
and the current market conditions are creating unique investment
opportunities in London now. In fact there has never been a better time
to invest in London, with favorable exchange rates against the dollar,
and a wider and deeper pool of available labor in London.
British Consul General Sir Alan Collins said: "London won the right to
host the 2012 Olympics in competition with some of the world's great
cities, and US companies are already showing a very strong interest in
getting involved. I hope that those of you who have a successful
business in the US will register on CompeteFor.com and look to locate
your operation in the UK to better position yourselves to secure
Olympic business. I urge you to take advantage of UK Trade &
Investment’s support to help you realize your 2012 business ambitions.
Once you have done this you will find that the UK is a location that is
second to none in enabling your company to showcase its capabilities,
as well as providing a launch pad into the rest of Europe."
Over the last decade, Think London has helped more than 1,400 companies
from 44 countries set up in London. These include companies from the
sustainable sector such as Accord Global Environment Technology (AGET)
Asia Carbon Exchange Pte Ltd, Better Generation, Closed Loop London,
EarthTradeWater, Enecore, Ralos, Recycle Bank, Reliance Fibre and Tesla.
About TerraCycle:
Latest News 
NEW YORK, Sept. 16 /PRNewswire/ -- (WORLD-WIRE) TerraCycle, a world leader in the field of ‘up-cycling’ where difficult to recycle waste material is turned into affordable, eco-friendly products, will today announce at a reception attended by the Mayor of London in New York, it has chosen London as the location to expand into the UK and Europe. Think London, the foreign direct investment agency for London, worked together with UK Trade & Investment (UKTI) to further strengthen London’s position as a centre of excellence for sustainable businesses.
