Rheaply Acquires Materials Marketplace, Making It Largest Platform for Circularity in Physical Assets

Rheaply

(Credit: Rheaply)

by | Oct 13, 2022

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Rheaply

(Credit: Rheaply)

Rheaply, the resource exchange platform focusing on circularity, announced its acquisition of the US Business Council for Sustainable Development’s Materials Marketplace. Rheaply will use the Materials Marketplace’s network of 2,200 partners and expertise in the upcycling of building materials, improving the company’s efforts to divert building waste from landfills; it will also generate cost and energy savings. This acquisition makes them the largest platform for circularity in physical asset management in the US.

Up to 40% of emissions come from the manufacturing, construction, and demolition of materials within our built environment, materials of which are the main products listed and have found reuse through The Materials Marketplace. Rheaply’s integration of their technology platform will elevate the circular economy to transform how building and manufacturing waste is recovered and reused, where one organization’s hard-to-recycle waste and byproducts becomes another organization’s raw material for furnishings, new development projects and product fabrication.

While Materials Marketplace focuses on upcycling building materials waste from small businesses and government agencies, Rheaply brings circularity to furniture, fixtures and equipment for large corporations like Google, Target, AbbVie, and Nicor, offering a solution to sustainable procurement and investment recovery through a combination of internal and external reuse. Rheaply’s platform is designed to help organizations locate what they need from other divisions of their company, avoiding both the long wait times associated with global supply chain disruptions and disposing of materials in usable condition. With the acquisition of the Materials Marketplace, the waste streams available for reuse and exchange are exponentially higher when factoring construction surplus, deconstructed materials and by-products from manufacturing operations.

To date, over 50,000 items with a value of $19 million have been upcycled through the platform, diverting more than 20 metric tons of waste from landfills. Since Q2 2021, the company’s growth is up 185% and by 72% year over year net revenue.

With this acquisition and additional product advancements, Rheaply plans to develop next-generation technology, making asset reuse more accessible to organizations of all shapes and sizes. Additionally, Rheaply recently introduced a tool that allows users to view the estimated embodied carbon avoided by reusing items, contextualizing the environmental benefit in hard data.

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