Onepak Secures Investment from Nuveen to Facilitate E-Waste Circularity
31 Julio 2024 - 1:38PM
Business Wire
Onepak will leverage Nuveen’s growth-stage
expertise to further position ReturnCenter as the platform of
choice to manage e-waste reverse logistics
Onepak Inc., a digital supply chain and reverse logistics
platform that facilitates the flow of used IT hardware and e-waste
for responsible repurposing, today announced it has raised $20
million from the Private Equity Impact team at Nuveen, the $1.2
trillion asset manager of TIAA. The investment represents the first
in the Nuveen Climate Inclusion Fund II and aligns with Nuveen’s
goal of driving an inclusive transition to a low-carbon, circular
economy.
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Steve Andon is the founder of Onepak and
the creator of its product and service offerings. He implements
problem-solving ideas and strategies, and oversees day-to-day
operations as the company's CEO. With more than 25 years of
entrepreneurial experience in information technology, finance, and
operations, Steve founded, developed, and sold two other companies
prior to founding Onepak. (Photo: Business Wire)
Through its ReturnCenter platform, Onepak provides a turnkey
solution for IT users and organizations of all sizes to return,
recycle, resell, or relocate IT devices. The platform allows
original equipment manufacturers, leasing organizations, resellers
and recyclers to seamlessly manage the movement, redeployment, data
destruction, disposal, and end-to-end chain of custody of used
electronic devices from businesses and consumers.
Since inception, Onepak has facilitated the return of more than
2 billion pounds of devices on behalf of more than 200,000
customers. The company has been named to the Inc 5000 three times,
has twice received the G75 Inbound Logistics award for notable
sustainability achievements in logistics, and recently received the
2024 IT Asset Management Solution of the Year by RemoteTech
Breakthrough Awards.
Nuveen is a pioneer in impact investing, with a long track
record of driving strong financial results and a positive influence
for society’s most pressing problems. Nuveen’s Private Equity
Impact team seeks to drive an inclusive transition to a low carbon
economy, targeting disruptive businesses that reduce waste and
emissions, use resources in a circular manner, and expand access to
and reduce the cost of basic products and services for underserved
consumers. Nuveen made its first impact investment in the 1980s and
now manages over $1.1 billion in private equity impact capital.
“E-waste is one of the fastest growing waste streams, globally,
with only a fraction being reused or recycled properly,” said Steve
Andon, Founder and CEO of Onepak. “By leveraging an extensive
logistics partner ecosystem on our frictionless technology
platform, Onepak addresses the pain points that prevent devices
from being redeployed or receiving proper end-of-life treatment. We
look forward to partnering with Nuveen to further develop the
functionality and reach of the ReturnCenter platform to meet the
enormous global market need.”
"Onepak has developed a world-class platform and partner
ecosystem to manage the complex reverse logistics needs of the
electronics aftermarket,” said Ted Maa, Managing Director at
Nuveen. “We are pleased to be working with Onepak – leveraging our
experience growing circular economy and climate-mitigating
businesses – to create global impact by scaling the amount of
e-waste that is diverted from landfills.”
About Onepak
Onepak bends the traditional linear supply chain into a
digitized sustainable circle. ReturnCenter, the company’s flagship
platform, connects shippers, receivers, and an international
ecosystem of service providers on one scalable system. The company
has sustainably executed product returns for a global customer base
that features leading organizations such as Dell Technologies, IBM,
United Technologies, Carrier, Diebold, General Motors, Toyota,
USBank and DLL Group. For more information, please visit
www.onepak.com or contact us.
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Jacquelyn Elwell Onepak 413-750-8207
jacquelyn.elwell@onepak.com