In January, Dritz launched Innovative Recovery, a specialty recycling company in Westerville that works with businesses to minimize their consumption of natural resources, as well as the amount of rubbish they send to landfill.
The amount of refuse discarded every year represents a vast resource that is only partially tapped through the recycling of cardboard, aluminum, and other commodity recyclables, he says.
In fact, there are millions of dollars worth of materials discarded every day and many streams can be economically and responsibly recycled, says Steve Grossman, president of Grossman Environmental Recycling and founding partner of Innovative Recovery.
“It just takes the right expertise and, connections, perspective and, of course, hard work,” Grossman adds.
That’s where Innovative Recovery comes in.
To get the ball rolling, businesses answer one simple question: Why aren’t you recycling?
“We help by identifying value in streams that are currently being landfilled, otherwise disposed of, or downcycled into lower value uses,” Dritz explains. “When we find value for our customers, we share in the savings.”
Solving waste-related issues goes right to a company’s bottom line, as they typically require very little, if any, resources and can generate significant savings and, potentially, a new revenue stream, he says.
Of course, the amount of money companies save depends on the size of their waste streams.
“We recently visited a company that disposes of approximately 1,200 tons per year at a cost of $220,000, not including hauling,” Dritz says. “We feel confident that their waste stream can be halved, saving over $100,00 per year.”
New revenue is possible when companies discover the value in their waste streams.
“Often, waste generators can be rebated for the value derived from recovered materials,” he says.
However, helping businesses save, or even make, money isn’t Dritz’s only motivation for starting Innovative Recovery.
“I would like to see Innovative Recovery grow to a point where it is essentially a landfill in reverse, where we help divert as much waste as goes into SWACO’s landfill in Grove City− approximately 3,000 tons per day,” he says. “At this point, revenues would be close to $100 million per year and we would employ over 100 people.”
Dritz, who holds a bachelor’s degree in chemical engineering from Ohio University, as well as an MBA and a master’s degree in natural resources and environment from the University of Michigan, says he always wanted to go into business for himself.
“I left my last real job almost six years and thought I would consult for a year before landing at another company,” he continues. “Well, it took longer than expected, but I saw a good opportunity that also satisfied my environmental ethic.”
To learn more about Innovative Recovery, visit InnovRecovery.com.