The US company CP Group (CPG) has acquired a majority stake in London-based artificial intelligence (AI) vision sorting technology company Recycleye. CP Group offers turnkey solutions for waste sorting plants (materials recovery facilities, MRFs).
The US company plans to combine its optical sorting technologies with Recycleye’s AI-driven robotics and data tools. The combined businesses are to focus on developing hybrid AI and near-infrared (NIR) sorting systems, the companies said in a joint announcement. All of Recycleye's employees and leadership are to remain with the company. The financial details of the transaction and the scope of GP Group's holding in the AI tech company were not disclosed....
