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Peter Strugatz, 53, Miranda Magagnini, 48
After years of investing in companies with social missions such as
Zipcar and Stonyfield Farms, Strugatz and Magagnini wanted to go into business for themselves. Strugatz had run his family sculpture
reproduction company, and Magagnini had run her own marketing firm after getting an MBA at Harvard. The pair had met through Investors' Circle and Social Venture Network in 1995. In 2003, while scoping the Brooklyn Navy Yard for business opportunities, they noticed an eviction notice on the door of a glass recycling company that was $5 million in debt and was being auctioned off.
Strugatz and Magagnini snapped it up with the goal of creating recycled residential and commercial surface materials by removing waste from the production stream, and doing so in an energy efficient and nonpolluting way. Ice Stone is realizing its goals. Its current line of counter tops, flooring, back splashes, and interior wall finishes are fashioned from recycled glass and concrete using technology developed by McCarthy. Fifty percent of the company's energy comes from wind power, and it recycles 85% of the water used in production, saving nearly five million gallons annually. The company has 60 employees, 40% of whom are Tibetan refugees, and about $12 million in annual revenues. Last year, Magagnini says the company eliminated 4.5 million pounds of waste material that would have gone straight to landfill.