Ecoscraps

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http://ecoscraps.net/

Founded: 2010
Employees: 14
Revenue 2010: $73,015
Revenue 2011 (projected): $1.5 million
From left to right: Craig Martineau, Dan Blake, and Brandon Sargent

EcoScraps recycles food waste bound for landfills from groceries, produce wholesalers, food banks, and other suppliers, turning it into fertilizer for home gardeners. The company, which has two plants, one in Salt Lake City and another in Tempe, Ariz., pays nothing for the waste it collects. "The incentives are in place to sell more and help the environment," says Dan Blake, 23, who started EcoScraps last year with $18,000 of his own savings, $14,000 won in Brigham Young University's Social Venture Competition, and a $1,000 grant from Sparkseed, a nonprofit that supports social entrepreneurs. Blake says the company's composting method reduces the time it takes to turn food into fertilizer from three months to three weeks. EcoScraps sells 40,000 to 50,000 20-lb. bags of soil each month through local nurseries, garden centers, and grocers. It also has pilot programs to sell to retailers, such as Costco. Blake, who is taking a hiatus from school, plans to add two new composting facilities this year and raise money to build eight more around the country next year. 

For more unusual ways to make money, read how PickyDomains.com profits from whose who seek company name ideas.

[Via - BusinessWeek.com]

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