AMP Robotics makes AI more accessible with new leasing program
The company’s zero-down, zero-interest lease makes automation accessible to businesses recovering recyclables for the U.S. supply chain
AMP Robotics has launched a new lease program to make AI and robotics even more accessible to recycling businesses facing operational and economic challenges created by the coronavirus pandemic.
The AMP Cortex Lease program offers interest-free financing without an upfront payment, enabling waste management and recycling businesses to get the benefits of sorting automation without the capital expense. Monthly payments are fixed and can total less than $6,000 a month, freeing up cash that companies can reinvest in other parts of their business. These financial benefits also help municipalities maintain the public service of recycling during challenging economic times and budget shortfalls. The AMP Cortex Lease program also includes warranty, maintenance, and service packages, alleviating concerns about the perceived risk of emerging technologies like AI and robotics.
In addition to its environmental role in combating waste and unnecessary landfilling, recycling also provides critical feedstock for the manufacturing supply chain. Recycling has become even more essential as the virus disrupts global supply chains and puts pressure on the availability of domestic raw material. With shelter-in-place measures, residential volumes of recyclables have skyrocketed as consumers quickly change their purchasing habits.
High volumes of plastic, paper, cardboard, and metals are hitting material streams, while demand for paper and cardboard has spiked to meet the increasing need for shipping packaging and other fiber-based products. Most of the materials used to make boxes come from recyclers in the form of recovered mixed paper and old corrugated cardboard (OCC).
AMP's technology recovers plastics, cardboard, paper, metals, cartons, cups, and many other recyclables that are reclaimed for raw material processing. AMP's AI platform visually identifies different types of materials with high accuracy, then guides high-speed robots to pick out and recover recyclables at superhuman speeds for extended periods of time. The company continues on a major growth trajectory as it scales its business to meet demand, having recently announced a 50 percent increase in revenue in the first quarter of 2020, a rapidly growing project pipeline, and last month's recycling technology milestone of one billion recyclables processed over the last 12 months.
On January 1st, 2021, the Basel Convention's plastics waste amendments became effective in Canada. The amendments focus on the international movement of plastic wastes that may have limited recycling options or be more difficult to recycle. This change will likely be felt all along the supply chain, including collectors, processors, and exporters. If you export plastic waste for recycling or final disposal, or if you are an exporter of other scrap materials, including plastic, paper, or e-waste, you may be subject to Canada's Regulations, and a valid export or transit permit may be required.