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RecycleBank’s Valuable Recycling Reward Program Escalates Growth across the U.S.

Written by RecycleBank
Published: November 12, 2008

Incentive program expands beyond the East Coast to convert millions of U.S. households into avid recyclers

New York City, NY – Nov. 12, 2008 – Days prior to America Recycles Day and on the heels of overwhelming successes across East Coast cities like Wilmington, DE, Fairfax, VA and Cherry Hill, NJ, the popular Recyclebank recycling rewards program announces plans to strategically expand operations. Recyclebank’s geographic growth into Southern, Mid-Western and Western states brings the company closer to fulfilling its mission of dramatically increasing household recycling rates across the U.S.
Recyclebank announces the following highly anticipated launches: Montgomery, OH, Sioux Falls, SD, Eden Prairie and Maple Grove, MN, Carrollton and Plano, TX, North Miami, FL, Wichita, KS, Albuquerque, NM and Knoxville, TN. In each case, Recyclebank has partnered with waste haulers, material recovery facilities (MRF’s) and municipalities to bring rewards for recycling to local residents.
“This is an incredibly exciting time in our company’s history,” said CEO and co-founder of Recyclebank, Ron Gonen. “The value we are creating in the municipalities we service is fueling tremendous demand for our program.”
Recyclebank rewards people for recycling. With Recyclebank, members earn Points for every pound recycled, similar to frequent flier miles programs. All recycling carts carry an ID tag read by recycling trucks during curbside pickup. Recyclebank weighs the contents and converts recyclables into Points that get delivered into personal Recyclebank.com accounts. Members use their Points to shop online or via toll free number. Rewards range from groceries and health care products, to movies, spa and travel.

Municipalities look to Recyclebank to dramatically increase recycling rates while lowering landfill fees and creating greener, cleaner communities. Recyclebank also has partnerships with a number of local and national haulers including Allied Waste Services, Waste Connections, Republic Services, Novak Sanitary Service (a Waste Connections company), Rumpke Recycling, AAA Recycling, and Leck and sons.
Recyclebank has increased recycling rates by 100% in the municipalities that it services. In addition to a significant increase in recycling, these communities also see a corresponding reduction in landfill disposal fees, a disposable income boost for households that recycle, and a renewed focus on sustainable action to protect our environment.
Recyclebank benefits participants all along the value chain. Working with existing recycling infrastructure, cities save significant monies through landfill diversion while earning through the multi-billion dollar market in recyclable sales. Haulers build brand loyalty and gain customer acquisition in a grossly hyper-competitive market. Residents reap rewards by accruing Points for recycling which gains them on average, $200 - $300 dollars in reward value each year. Local merchants benefit through increased earnings and the revitalization of vibrant and viable local economies as rewards are redeemed within communities. During tough economic times like these, incentives to recycle are helping all.
Most important, Recyclebank is helping the environment. To date, Recyclebank households have saved over 559,475 trees, over 37 million gallons of oil, over 200 million gallons of water; and successfully diverted in excess of 59,946 tons of waste from landfills. Having secured $30 million in Series B funding in April 2008 from leading venture capital firms, Recyclebank was just named by Newsweek as one of “the hottest plays” in green investing.
In honor of America Recycles Day (November 15th), Recyclebank will debut The Cycle, an animated interactive look at the process of single stream recycling and materials reprocessing. The Cycle, created and produced by Recyclebank, answers the question of ‘What happens to my recyclables after I put them out and they are collected?’ It takes viewers through each step of the process in an entertaining and fanciful way, while educating them on what really is involved in using recyclables again and again. To explore The Cycle, visit explorethecycle.com or recyclebank.com on America Recycles Day.

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About Recyclebank:
Recyclebank is a rewards program that motivates people to recycle. We do this by quickly and easily measuring the amount of material each home recycles and then converting that activity into Recyclebank Points that can be used at hundreds of local and national rewards partners. Recyclebank is simple to implement, market-driven, and proven to work; saving municipalities’ money and rewarding citizens for their environmental stewardship. Kleiner, Perkins, Caulfield and Byers, RRE Ventures, The Westly Group and Sigma Partners are institutional shareholders. Ron Gonen, the co-founder and CEO, is the largest individual shareholder. Recyclebank is headquartered in New York City and also maintains an office in Philadelphia. Visit www.recyclebank.com for more information.

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Recyclebank At A Glance

Headquarters
New York

Offices
New York, Philadelphia and Houston

CEO
Javier Flaim

Founded
2004

Investors
The Coca-Cola Company, Craton Equity Partners, Generation Investment Management, Kleiner Perkins Caufield & Byers, Paul Capital Investments, Physic Ventures, RRE Ventures LLC, Sigma Partners, Waste Management Inc., and Westly Group

Members
4 Million+

Communities
300+ in all 50 states

Reward Partners
4,000+

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