Balcones Resources has purchased Single Stream Recyclers (SSR), an artificial intelligence (AI)-driven materials recycling facility operating in Sarasota, Florida.
The new integrated business is being funded by recycling investment firm Closed Loop and will function as SSR, a Balcones Resources company, the Texas-based recycler said in a statement. The acquisition will support the growth of Balcones’ processing capacity by around 100,000mt per year.
The acquisition will support Balcones’ expansion plan that aims to enter new markets while highlighting the company’s growth in the southern region, according to the company.
SSR uses technology such as AI, robotics, and optical scrap sorters. The plant operates 14 robots to process recyclable materials including aluminum, metal, and other recyclables from commercial or residential customers.
John Hansen, co-founder of SSR said that the demand for improved quality of recycled materials is increasing and that the modern facilities were also well-timed to increase focus on supply chains.
This is Balcones’ first acquisition since New York-based Closed Loop attained an 80pc ownership stake in the company in 2019.
Balcones is among the top 50 recyclers in North America with over 200 employees across three facilities. SSR processes, sorts, bales and ships aluminum, metal, and other materials across the West coast of Florida.