May 2013 – David Katz attended an event at Singularity University with the goal to conceive an idea for a new social enterprise that could impact a billion people. On the second day, he had an epiphany that was followed up with this phone call.
“I’ve figured out our new business. It’s called The Plastic Bank. We make plastic waste a currency to help the world’s most disadvantaged people. I’ve come to realize that the problem with plastic waste, is that people see it as waste. But if we can reveal the value in plastic, we can make it too valuable to ever end up in the ocean. What do you think?”
David Katz - Founder & CEO
“Love it. Let’s Make it Happen.”Shaun Frankson - Co-founder & Chief Strategist
They went to work creating The Plastic Bank. David focused on financing the business and attracting the right partners. Shaun coined the term Social Plastic® and created the strategies to introduce The Plastic Bank to the world. Resulting in over 200 media features worldwide.
In 2014 The team spent time in Peru and Colombia to learn from the disadvantaged people who recycle for a living. By early 2014 The Plastic Bank had successfully created a million person Social Plastic® movement. People from over 130 countries had signed the Facebook petition and weekly partnership requests came from over 75 different countries.
2015 Sustainia Community Award at COP21 in France.
December 2014 The Plastic Bank officially completed the final pilot program in Peru. In early 2015 The Plastic Bank launched its full operations in Haiti through Solar Powered Social Plastic Recycling Markets. Plans are now in place to expand this model globally.
See The Plastic Bank on the reality TV show, Dragon’s Den October 5th, 2016.