In our current age of eco-consciousness, where words like upcycling are becoming mainstream vocabulary, it’s no surprise that many companies are trying to make a buck off of turning something destined for the trash can into something more valuable. But this type of lucrative transformation isn’t just a creation of the eco movement. In fact in medieval times, scientists attempted to turn common metals into a more lucrative element, gold. This speculative philosophy was called alchemy, and despite the failed attempts of medieval men in search of easy-earned fortune, the word has stuck with us for centuries, coming to mean “a power or process of transforming something common into something special.” Harnessing the power of the eco and upcycling movement, one company took the definition of alchemy to heart, and has been paving the way for actually turning garbage into gold ever since.

Based in Seattle, Alchemy Goods (Ag) stays true to its name and is built on a mission of “Turning Useless into Useful.” Started in 2004, the company builds bags and accessories out of used bike tubes, and although they’ve stuck with turning something of lesser value into something of greater value, fortunately for Ag, the company has been more successful than their medieval forefathers; turning trash into a usable and fashionable product has put the Ag label in shops all around the country. Despite the company’s current popularity and success, the beginnings of Ag were built more out of necessity than a business focus. “I had a messenger that I loved that was stolen from me, so instead of buying one I decided to make one. I had all these inner tubes lying around my apartment that I didn’t know what to do with that I cut into strips and made into a bag,” says Chief Alchemist Eli Reich.

The bags quickly made their way around Reich’s group of friends and he soon found himself a business owner forced to think about the true impact of his product. “I read Cradle to Cradle. It educated me about the possibilities… to not just think about the use of the product but to think about the materials of the product and where they came from and where they’re going,” says Reich.

That philosophy can easily be seen in Ag products and general design philosophy. The company works with bike stores across the country that take part in Ag’s recycling program, sending in used bike tubes to be turned into flashier goods like messenger bags and wallets. Within six months of launching Ag, Reich had managed to sign on about 10% of all the bike shops across the US. Soon Ag had more tubes than they could handle, and the company now asks bike shops that want to donate tubes to sell Ag bags as well. Not only does that help Reich’s business, but it makes a one-to-one connection for the consumer, “bringing consciousness to people about waste and what products they buy,” says Reich.

Ag’s products are all marked with a logo that looks like the periodic table. In the upper right hand corner sits a number, representing the percent (by weight) of recycled material in the product. But that logo is more than just green marketing. “That number is transparent. There’s a lot of stuff in that bag that isn’t recycled and I take responsibility for that,” says Reich.

The recent spike in eco-design, and popularity of goods made with alternative materials like recycled PET, has led the Ag team to pose an interesting question: “Do we want to up our recycled content or do we want to make all the non-recycled materials out of something that’s more environmentally friendly and recyclable?” For now the main concern is focusing on using goods that would otherwise go to waste. “Our primary goal is trying to reclaim as much as possible and trying to address that first and foremost,” says Reich. But Reich also knows that he and his team have a lot of work ahead of them. “It’s hard to come up with a product that’s endlessly recycled. We’re a step in the right direction but we’re not perfect.”

As Ag moves forward, so will its designs and incorporation of other used materials, like tennis balls, diaper lint and beyond. Reich points out that in the age of disposable goods, there’s no limit to where Ag can go creatively. “People send us all sorts of things saying ‘hey can you use this?’ Every week there’s a new box of something strange that comes our way.”

Ultimately, Reich hopes to see new ways of thinking when it comes to business. “The challenge [in the business] is the externalities; the playing field isn’t level. Our competitors have a lower price point because they aren’t incorporating the cost of environmental degradation. It would be neat to include that. I’m excited to see where all of those things are going to go.” But for now, it’s all about turning garbage into gold.