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A business that recyles old ski boots, skis and poles etc....then re uses the material to make new ski products. Plastics, aluminium, steel, wood, its all in there.
(90% recyled 10% new material)...100% recyling for product production is pretty much impossible for things like ski boots mind.
How about some kind of recyling/energy program that relates to the schools....such as using waste food from the lunch halls/the canteen to create energy through Anarebic digestion, the process can be used to both reduce landfill and get energy from the gas given off from the break down of the organic matter...(Methane, can be used to offset fossil fuel consumption.
This will give you some background> http://en.wikipedia.org/wiki/Anaerobic_digestion
Google companies that specialise in this and you'll probably get some good ideas of what you could do.
You know how people can hook up blenders to stationary bikes? What if every machine in a gym generated electricity. i dont really know the specifics but i assume if you had 20 people riding bikes connected to a generator it could be used for something....