November 14, 2008

RecycleBank Expands Operations

RecycleBank announced it is expanding its operations and is partnering with waste haulers, material recovery facilities and municipalities to bring rewards for recycling to local residents.

The company plans to launch its recycling rewards program in 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. Last year, the company received a $2 million investment from Coca-Cola to help the it expand nationwide. It’s taken in more than $40 million from other investors.

RecycleBank has partnerships with a number of local and national haulers including Allied Waste Services, Waste Connections, Republic Services, Novak Sanitary Service, Rumpke Recycling, AAA Recycling, and Leck and Sons.

RecycleBank members earn points for every pound recycled and can use those points to shop online for rewards ranging from groceries and health care products to movies, spa and travel.

The company says to date, RecycleBank members have saved about 560,000 trees, more than 37 million gallons of oil, more than 200 million gallons of water and diverted about 56,000 tons of waste from landfills.

RecycleBank’s announcement comes as EL reports today that recyclables are turning less profit as the economy declines.

In February, Kraft Foods signed on as the “Official Food Sponsor of RecycleBank.” Official sponsorship status is given to one industry leader per category.

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