In a time when many, including the recycling industry, are feeling the effects of the economic downturn, one company has managed to thrive. RecycleBank, the leading green rewards and loyalty program that motivates people to recycle, announced yesterday significant growth figures for 2008.
RecycleBank motivates household and communities to recycle with its reward program, providing points based on the amount of materials being recycled. The Points can be used at over 1,200 local and national RecycleBank Reward Partners, including giants like Target.com, Coca-Cola and Kraft. Members can also choose to donate their reward points to local schools for environmental initiatives, as well as many local and national charitable organizations.
“With the current downturn in the economy RecycleBank offers cities and families alike the opportunity to save money,” said Ron Gonen, CEO and co-founder of RecycleBank. “By revolutionizing the way people view recycling, and ultimately consumption, we are able to put an annual average of $300 to $400 dollars of reward value in people’s pockets.”
The Numbers are in
RecycleBank more than doubled the households it services in 2008.
- Services were expanded from 35 municipalities and 100,000 homes in 2007 to over 90 municipalities and 210,000 households in 2008.
- RecycleBank households redeemed over 46 million points for RecycleBank Rewards in 2008, an increase of 242 percent from the previous year.
- 668 new local and national RecycleBank Reward Partners signed up in 2008, an increase of 274 percent from 2007.
- RecycleBank members donated 750,000 points to local school environmental initiatives in 2008, the equivalent of $75,000.
“2008 was a big year for us because over 1,000 rewards partners participated in the RecycleBank Rewards Program,” said Morley Ivers, chief rewards officer of RecycleBank.
RecycleBank has more than doubled recycling rates in the communities where the program has been deployed. To date, over 60 million pounds of recyclables have been diverted from the waste stream, representing a savings of $6 million for municipalities in 2008.
RecycleBank aims to grow by over 100 percent in 2009, increasing its recycling service to more communities nationwide. The company recently began an electronic device recycling program, for their members whose curbside programs do not accept electronics. The program currently accepts laptop computers, cell phones and mp3 players, but will likely expand to other materials as the company grows.
The company will also be recognized by the World Economic Form as a Technology Pioneer this week in Switzerland.