Midweek Entrepreneur Spotlight #3: Eric Lundgren
Midweek Entrepreneur Spotlight #3: Eric Lundgren "Providing Efficient Solutions through Technology For The Betterment Of Mankind"
Taking a bit of a different approach this week, instead of putting an entire organization in the spotlight (from Detroit #guilty) I will instead be talking about Eric Lundgren, the CEO of IT Asset Partners (ITAP). You may have heard of him from the articles regarding his recent legal troubles headlined: Recycling Engineer Has Been Sentenced to 15 Months in Prison. I won't get into trying to interpret the law or share my opinions regarding his imprisonment... but I will definitely talk about him and his company's accomplishments. I think you'll like to see what they've been up to.
Let's start with getting an idea of who this guy is. Pulling straight from his Linkedin page:
"Mr. Lundgren is a true pioneer in the Electronic Recycling Industry and the father of modern day "Hybrid Electronic Recycling". Having founded IT Asset Partners; Lundgren set the new standard for “best practices” in Global Electronic Asset Management. Through serving Asset Managers with efficient solutions and processing for Fortune 500 Companies; he has created an international trading company and global electronics asset solutions business in both China and India. In 2011, Lundgren created the global conglomerate, "IT Asset Partners" with the goal of providing the most efficient electronic solutions in today's global marketplace. Lundgren graduated from Babson University with a Bachelor’s Degree in Entrepreneurship.
pretty impressive stuff, but the icing on the cake is that his personal mission is academy award winning acceptance speech level of good:
"My goal is simple. I wish to leave this world better than how I found it.. To make a lasting positive impact on society." - Eric Lundgren
This quote resonated with me - as it relates directly to my last few posts regarding the definitions and working theories behind the Modern Business Mind. Key parts being "...world better than I found it..." and "...lasting positive impact on society" (remind of you other beacons of innovative disruption? *cough* Elon *cough*)
Speaking of Elon, Eric and his team hold the world record on E-car range. Their EV, "Phoenix", is made from 90% garbage - including a BMW E39 frame from a junkyard, laptop batteries, batteries from Time Warner cable boxes, and batteries from EVs such as LG Chem Cell packs, to create the "largest re-purposed battery pack that's ever been put in an automobile."
This means the whole vehicle cost them less than $14,000 to build. This EV claimed the official title for the Longest Range of an Electric Vehicle on October 18th, 2017 by traveling more than 1600 kilometers over a two day consecutive run - breaking the previous record of 1298 km made in Japan in 2013. Additionally, the Phoenix out-ranged the Tesla Model S P90D, Chevrolet Bolt, and Nissan LEAF in a highway range test from Chatsworth to San Luis Obispo, CA.. Sadly it had to stop after blowing a fuse, but regardless it made it 340 miles at 70mph, and still had 32 percent power remaining on the battery.
"We wanted to demonstrate what hybrid recycling was, and the best way to do so is to beat world records," he said.
Good answer, simple and to the point right? he goes on to say:
"It's everything that consumers thought was garbage, and what we wanted to show was that your old garbage could actually beat the newest, best, hottest technology out there," Lundgren said.
Alright so his intentions are arguably good, but a record breaking EV doesn't necessarily make the world a better place - recycling does. Is ITAP actually making an impact? I'd say yes, with a reported 41 million pounds of e-waste processed each year.
Good answer, simple and to the point right? he goes on to say:
"It's everything that consumers thought was garbage, and what we wanted to show was that your old garbage could actually beat the newest, best, hottest technology out there," Lundgren said.
Alright so his intentions are arguably good, but a record breaking EV doesn't necessarily make the world a better place - recycling does. Is ITAP actually making an impact? I'd say yes, with a reported 41 million pounds of e-waste processed each year.
This is accomplished through hybrid recycling further, which Eric says is what distinguishes ITAP from other recyclers:
"The companies that I work with currently, prior to working with ITAP were paying millions of dollars to dispose of their hazardous materials. And today we're paying them millions of dollars to allow us to process these hazardous materials into new electronics," he said. "Hybrid recycling is the first solution that's able to pay consumers and pay companies for their waste. Every other solution prior charged consumers and charged companies. We are highly profitable while paying for the waste."
"The companies that I work with currently, prior to working with ITAP were paying millions of dollars to dispose of their hazardous materials. And today we're paying them millions of dollars to allow us to process these hazardous materials into new electronics," he said. "Hybrid recycling is the first solution that's able to pay consumers and pay companies for their waste. Every other solution prior charged consumers and charged companies. We are highly profitable while paying for the waste."
ITAP is paying consumers AND companies to process their waste?! Find me a better example of Disruptive Innovation.... I'll wait (and then put it in the next spotlight with your name on it)
feel free to comment, critique, and share!
Sincerely,
MBMJeremy
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