RecycleBank Sees Growth in 2008
RecycleBank, the green rewards and loyalty program that motivates people to recycle, on Jan. 27 announced significant growth figures for 2008, expanding service from 35 municipalities and 100,000 homes in 2007 to more than 90 municipalities and 210,000 U.S. households in 2008.
The program is poised to grow by more than 100 percent in 2009, according to the company's press release.
"With the current downturn in the economy RecycleBank offers cities and families alike the opportunity to save money." says Ron Gonen, chief executive officer 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 program has more than doubled recycling rates in every community that uses it. Households have diverted more than 60 million pounds of recyclables from the waste stream, saving more than 600,000 trees and over 45 million gallons of oil. These environmental footprint metrics resulted in over $6 million in savings for municipalities in 2008.
The program rewards communities for the amount they recycle. The company measures the amount of materials and then converts it into Points that can be used at over 1,200 national and local Reward Partners, including brand giants like Kraft, Coca-Cola, CVS/pharmacy, and Target.com, as well as local reward partner locations like grocery stores and restaurants. Members also can donate their Points to local schools for environmental initiatives, as well as dozens of local and national charities.