Interstate Waste Services Funding, Investors & Competitors

WM, previously known as Waste Management, ranks as the largest integrated provider of traditional solid waste services in the United States, operating 262 active landfill sites and about 339 transfer stations that help with transporting waste efficiently and economically. The company serves residential, commercial, industrial, and medical end markets for waste collection, transfer, and disposal. The company also has an energy business emanating from the beneficial use of landfill gas and is a leading recycler in North America.

Republic Services Group is the second-largest waste management company by revenue and provides integrated waste management services to residential, commercial, and industrial customers. With 208 active landfills, 248 transfer stations, and 75 recycling centers, Republic Services has reached $16 billion in annual revenue, focusing on recycling and environmental solutions. The company reports in three segments based on the Western United States (Group 1), Eastern United States (Group 2), and Environmental Solutions across North America (Group 3). Eighty-nine percent of total revenue comes from recycling and waste, with the remaining 11% from Environmental Solutions.

Waste Connections is a North American waste management company focused on integrated waste collection services. The firm primarily focuses on residential, commercial, municipal, and industrial waste collection, with a secondary market focus on rural areas. With 113 landfills and 222 transfer stations as of 2024, it is the third-largest waste management company by revenue. Revenue is split among six operating segments: Western, Southern, Eastern, Central, Canada, and Midsouth.

Veralto is a diversified industrial firm organized into two segments. The water quality segment offers water analytics and water treatment solutions, while the product quality and innovation segment offers coding, packaging, and color solutions for consumer packaged goods and pharmaceuticals. Headquartered in Waltham, Massachusetts, the company has around 17,000 employees. Veralto generated approximately $5.5 billion in revenue in 2025.

Veolia is a French environmental-services group whose corporate origins date to 1853. It provides drinking-water production and distribution, wastewater treatment, waste collection and recycling, energy management and related infrastructure services. Municipal governments, utilities, industrial customers and commercial organizations contract with the group under operating, concession and service arrangements. Revenue comes primarily from long-term service contracts and the operation of essential environmental infrastructure rather than from equipment sales. At the time of Qatari Diar's 2010 investment, Veolia employed more than 310,000 people worldwide and reported 2009 revenue of EUR 34.5 billion across water, waste, energy and transportation. The group later narrowed its portfolio and in 2022 combined with most of the former SUEZ business, expanding its global water and waste operations.

GFL Environmental Inc is an environmental services company. Its offerings include non-hazardous solid waste management, infrastructure, soil remediation, and liquid waste management services. Its solid waste management business line, which generates the majority of the revenue, consists of the collection, transportation, transfer, recycling, and disposal of non-hazardous solid waste. Its Environmental Services business line includes liquid waste and soil remediation. The company's geographical segments are Canada and the United States. The company derives the majority of its revenue from the United States.

Clean Harbors Inc is an environmental and industrial services provider that provides parts cleaning and related environmental services to commercial, industrial, and automotive customers. Its business segments are Environmental Services and Safety-Kleen Sustainability Solutions. Environmental Services includes waste collection, transportation, treatment, recycling, and disposal, along with industrial maintenance services. Safety-Kleen Sustainability Solutions provides used oil collection and manufactures base oil, vacuum gas oil, and lubricants. The company generates the majority of its revenues from the Environmental Services segment and operates in the United States, with maximum revenue, and Canada.

Zurn Elkay Water Solutions Corp is a growth-oriented, pure-play water management business that designs, procures, manufactures, and markets the broadest sustainable product portfolio of specification-driven water management solutions to improve health, hydration, human safety and the environment. Its product portfolio includes professional grade water safety and control products, flow systems products, hygienic and environmental products, and filtered drinking water products for public and private spaces that deliver superior value to building owners, positively impact the environment and human hygiene and reduce product installation time.

Casella Waste Systems Inc is a solid waste removal company, providing resource management services to residential, commercial, municipal, and industrial customers. The company's reportable segments on Geographical basis include Eastern, Western and Mid-Atlantic regions through the Resource solution segment. It generates maximum revenue from the Western region segment. The company's services include Recycling, Collection, Organics, Energy, Landfills, Special Waste as well as Professional Services.

Redwood Materials is a Carson City, Nevada company that recycles lithium-ion batteries and battery manufacturing scrap, refines the recovered metals and produces battery materials, and has expanded into grid-scale energy storage built from retired electric vehicle batteries. It was founded in 2017 by JB Straubel, a co-founder and former chief technology officer of Tesla, and processes scrap from Panasonic's Nevada battery plant. Customers buy recovered cobalt, nickel, copper and lithium and cathode active material produced at its Nevada and South Carolina sites. Investors include Capricorn, Breakthrough Energy Ventures, Amazon's Climate Pledge Fund, T. Rowe Price, Goldman Sachs Alternatives, Baillie Gifford, Eclipse, NVentures and Google. It raised a Series E of 425 million dollars that closed in January 2026 at a valuation reported above 6 billion dollars, and it reported about 200 million dollars of revenue in 2024. In 2023 it bought the German recycler Redux Recycling to start European operations.

Fomento de Construcciones y Contratas SA is in the business of environmental services, end to end water management, construction and cement. The company's activities include services related to urban water treatment, waste recovery, end to end water cycle and also infrastructure construction projects, building construction, manufacturing of cement and concrete and operation of quarries and mineral deposits. The firm derives majority of its revenues from environmental services segment. It carries out international operations in European, the U.S and Latin American markets.

Umicore SA operates in the following business groups: Catalysis, Battery Materials, Specialty Materials, Recycling, and Corporate and Unallocated. Key revenue is derived from its Recycling segment, which treats complex waste streams containing precious and other specialty metals. The Battery Materials segment is engaged in developing, manufacturing, and marketing cathode materials (CAM) and its precursors (pCAM) for lithium-ion batteries. The Catalysis segment provides automotive catalysts for gasoline and diesel light and heavy-duty diesel applications, and the Specialty segment develops, manufactures, and distributes metal-based materials and chemicals for applications vital to everyday lives. Geographically, the group derives a majority of its revenue from Europe.

Canmax Technologies Co Ltd is engaged in Research and development, production and sales of new energy lithium battery materials products, anti-static ultra-clean technology products and medical equipment products.

Cleanaway Waste Management is Australia’s largest waste management business with a national footprint in the collection and disposal of waste. It is active in municipal and commercial and industrial waste stream segments and in nonhazardous and hazardous liquid and medical waste. While Cleanaway is allocating greater capital to waste processing and treatment, earnings remain skewed toward waste collection. The company is particularly strong in commercial, industrial, and municipal waste collection with strong market share in all large Australian metro waste collection markets.

GEM Co Ltd is engaged in Waste battery recycling and power battery material manufacturing business, cobalt, nickel, and tungsten recycling and cemented carbide manufacturing business, renewable resources business, and environmental management business.

FCC Medio Ambiente is a Madrid-headquartered waste management operator serving Spain, Portugal, and other European markets. The company manages urban cleaning, wastewater treatment, and recycling facilities processing municipal and industrial refuse.

Shenzhen Energy Environmental Protection Co. is a Shenzhen-based waste disposal specialist offering research, engineering design, engineering design, and operation management services. The company handles municipal solid waste incineration, landfill operations, and hazardous waste treatment projects in Guangdong province and beyond.

EcoCeres is a Hong Kong-based advanced biorefinery company converting waste-based biomass into lower-carbon transport fuels and renewable chemical products. Its principal outputs include sustainable aviation fuel and hydrotreated vegetable oil made from used oils, agricultural residues and other waste feedstocks. EcoCeres supplies airlines, fuel distributors and transport-sector customers seeking certified substitutes for fossil jet fuel and diesel. Revenue is generated through industrial production and long-term sales of renewable fuels, supported by proprietary pretreatment and refining technology. The Hong Kong-headquartered company has developed commercial production in Asia and entered partnerships aimed at expanding sustainable aviation fuel adoption. HKIC’s capital and ecosystem support are intended to accelerate technology development, international market access and Hong Kong’s role in sustainable aviation.