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TheStreet Open House

Recyclebank Tops The Wall Street Journal's List Of Top 10 Venture-backed Green Companies For Second Consecutive Year

Stocks in this article: WM





NEW YORK, Oct. 22, 2012 /PRNewswire/ -- Recyclebank®, the company that rewards people for taking everyday green actions with discounts and deals, today announced that it has taken the top spot on The Wall Street Journal's prestigious ranking of the Top 10 Green Companies. This is the third time Recyclebank has appeared on the list and the second time topping it.

The Top 10 Clean-Tech ranking seeks to identify green companies with the greatest potential to succeed in an increasingly competitive sector. Recyclebank tops the list among 10 other U.S.-based venture-backed businesses in clean technology and was selected based on a rigorous process that reviewed amount of capital raised in the past three years; track records of the executive team, managers and investors; percent change in its valuation in the past 12 months; and finally, which company offers the best odds for success.

"The distinction by The Wall Street Journal for the second year in a row is an incredible testament to the measurable impact that Recyclebank has achieved. Over the past year, we've partnered with leading haulers and brands to mobilize and inspire more communities to live greener lifestyles, and even expanded our presence to all 50 states," said Jonathan Hsu, CEO of Recyclebank. "Receiving this recognition once was an honor; receiving it twice in such a short time period is humbling and inspiring at the same time. We couldn't be more energized to continue on our quest to realize a world without waste."

The accolades come on the heels of an incredible year of growth and business milestones for Recyclebank. In October 2011, the company joined forces with Waste Management, Inc. (NYSE: WM) with a goal to bring its innovative rewards-for-recycling program to more than 20 million Waste Management customers. In the last year, Recyclebank has launched in more than 60 Waste Management communities, including Fort Worth, Texas; Little Rock, Ark.; Long Beach, Calif.; the suburbs of Miami and Orlando, Fla. among others.

Through its partnership with SC Johnson on the SC Johnson Green Choices Recycling Challenge, Recyclebank reached the milestone of partnering with communities in all 50 states across the U.S. The program encourages 50 communities, one in each state, to compete for the highest reported recycling participation rate during a six-month challenge, which kicked off in July. The winning community will receive a $100,000 grant from SC Johnson to go toward a green project.

This honor follows recognition earlier this year, as Recyclebank was named to the Sustainia100 at Rio+20, listed as a Global Cleantech 100 Company for the third consecutive year and received a GAwards: Best in Gamification Award in the Best Use of Gamification for Social Good category.

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