Recyclebank exits UK market, disposing of unit

Tom Paine

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Recently, I raised the issue of the long-term viability of Recyclebank's business model, noting the ongoing tendency of numerous communities that had participated in the program to discontinue it, frequently citing low participation rates in the rewards program and ongoing costs.

Now comes word that Recyclebank has exited the UK market, selling its Recyclebank UK unit to Greenredeem, a subsidiary of Grundon Waste Management Ltd. The UK website letsrecycle.com says it is not clear whether Greenredeem paid a financial consideration to Recyclebank for the UK unit or received it for free, noting "questions have been asked in the past about the precise impact of rewards schemes on recycling and whether results had been influenced by a change in collection systems and approach rather than by offering rewards." Recyclebank has 250,000 members in the UK, according to Greenredeeem.

Recyclebank was founded in Philadelphia before moving its headquarters to New York. It still has some operations based in Philly, and the city of Philadelphia is among its customers.



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