As. Said above, CleanRobotics.com does just that, image processing, and separating conveyors to identify cans (whole, crouched, ...) from plastic bottles (whole, partially full, crushed) from cups, or even a half of a hamburger. Each is sorted into organic waste, aluminum, steel, or plastics bins. All happens in fraction of a second.
It may not be a great (optimal) use of energy and recycling (their trash bins are actually in stadiums, convention centers and malls), but they have made plenty of cash by translating their vision system software into other sorting automation projects.