May 1, 2008
Making green with green rewards programs
Burning fossil fuels is totally not the “in” thing to do any more. The environmentally friendly trend is quickly turning everything green: light bulbs are green, energy bars are green, cars are green, and even big oil is managing to somehow appear as green.
The green movement has led to corporate and individual behaviors that help protect our environment and develop more awareness of environmental issues. RecycleBank is definitely doing its part; with 495,262 trees saved and 33,083,565 gallons of oil saved (according to their website), RecycleBank is an environmentally progressive business that intends to make green by being green.
RecycleBank motivates participants to recycle more with a rewards program.
RecycleBank contracts with cities in order to work within the established trash collection structure.
The recycling habits of participants are followed through the use of the RecycleBank technology. RecycleBank outfits the garbage trucks with an RFID scanner. That allows for automated scanning and recording of the weight of the RecycleBank recycling bin.
The RecycleBank system converts weight into reward points and transfers that amount directly to the participant’s individual account. With these reward points, participants can claim discount coupons, gift cards, and even vacations from around 150 local and national businesses.
With increasing prices and decreasing availability of land, piling of waste onto landfills is becoming more and more expensive for local governments. By working directly with cities and municipalities, RecycleBank is decreasing the amount of waste going into landfills by motivating individuals to thoughtfully recycle what was previously thrown away. The local governments not only appreciate this, but they pay for it too. That is one way that RecycleBank is able to stay profitable while rewarding participants for recycling, because the more that is recycled, the more cities pay.
The second RecycleBank revenue stream comes from the local and national businesses involved with the rewards program. By providing sponsors with useful basic information about participants, RecycleBank gains revenue from the same companies that reward the participants. This relationship is a big win-win: advertisers have access to a large and involved audience, and RecycleBank receives revenue and promotes recycling.
Although the RecycleBank program is not yet nationwide, it seems to have both the infrastructure and practicality that is needed to expand to a national scale. By grouping financial success with social responsibility, RecycleBank shows that profit seeking can be valuable and socially beneficial. Hopefully, the efforts of companies such as RecycleBank and the growth of the green movement will motivate individuals to continue considering the environment in their every-day choices.
Related Companies, Investors, and Entrepreneurs
Greendustries
Startup/Business
Joined Vator on
GreenDustries has developed and commercialized a technological breakthrough, providing a superior packaging solution to the multibillion dollar, on-the-go food and QSR (Quick Service Resturant) industries.
The uniqueness of GreenDustries' technology lies in its structural, conceptual and functional innovation, which creates a unique packaging solution, with competitive advantages in respect to cost, the environment and consumer utility, as follows:
* Economics / Cost - Significant cost savings in both raw material and freight.
* Environment - Ideally positioned to leverage the growing demand in the Green market.
* Consumer Utility - Consumer and product testing confirms superior attributes.
* Investment opportunity - Unique IP, proven tested technology, high client interest and strong management team
* Company is well position - Ripe investment market for clean tech company that can demonstrate a differentiated product with superior econnomics and clean benefits.
RecycleBank
Startup/Business
Joined Vator on
Our Story
Since rolling out our very first recycling cart in 2005, RecycleBank has acted on our belief that a company can be financially successful while behaving in a socially responsible and environmentally ethical manner.
At RecycleBank, we get up each and every day with the sole purpose to motivate households to dramatically increase their recycling efforts with RecycleBank Reward Points. We are proud of our impact and our efforts.
In essence, the RecycleBank curbside program quickly and easily measures the amount of material each participating home recycles and then converts that activity into RecycleBank Reward Points that can be used at hundreds of local and national rewards partners.
The RecycleBank program is simple to implement, market-driven and proven to work, saving municipalities’ money and rewarding citizens for their environmental stewardship.
Our Vision
Many Shades of Green
We’re sure that any person can make changes in life to lessen their impact on the planet. That’s why we go to every kind of neighborhood and involve people from all walks of life: recycling is the one thing we can all do.
RecycleBank is here to change behaviors and attitudes – not as enforcers, but encouragers. Whether you are taking baby steps, learning the path to greater awareness, or are a bona fide tree hugger, we respect your shade of green.
We believe we can help by making recycling understandable, easy and rewarding. We’re proud that we have created a level playing field where everyone can feel free to participate; appreciated for what they do and have the opportunity to live more sustainable lives. We enthusiastically support all forms of forward progress. Our mission is simple:
Our Mission is Simple
We do it through easy single stream recycling, and rewarding good recycling efforts. Once we’re all recycling…who knows?
After all, our planet is just one big neighborhood.
Green Country
Startup/Business
Joined Vator on
Green Country is a one-stop shop for building contractors and homeowners seeking environmentally friendly building supplies and information on the green construction industry.
Bill Clohessy
Joined Vator on
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