Peter Klauser
Los Angeles, CA (USA)
Role(s):
Eco Carpet Inc.
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Startup
Location:
Los Angeles
Industry:
Manufacturing
Year Founded:
2008
Number Employees:
INVALID
Description:
Eco Carpet Offering
The company will recycle used carpet into nylon fiber then nylon pellets and backing for resale.
Terms: $2,500,000 of convertible preferred stock @ 15% interest per annum. Projected payments to begin after eighteen months and be completed (principle and interest) in twenty-four months. Shares would then convert to a 20% equity state in perpetuity.
Current need: Today 17 lbs. of used carpet is produced for every person in the United States per year, that's 5 billion lbs.*. Today used carpets are sent to landfills at a cost of $.045 per pound. The state of California has indicated they may no longer allow carpet in landfills. Across the nation other state governments are considering similar legislation. All carpets will have to be shipped out of state for disposal at