Coca-Cola Invests $2 Million in Innovative Recycling Program RecycleBank.Beverage Company's Investment to Help Bolster Environmental Efforts and Motivate Households to Recycle PHILADELPHIA -- RecycleBank[TM], a rewards program that motivates people to recycle, announced today that Coca-Cola has invested $2 million in the company to help enable RecycleBank to expand nationwide. The investment is part of a larger relationship with RecycleBank to increase curbside recycling rates in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . RecycleBank motivates households and communities to recycle by financially rewarding each household for the amount they've recycled. RecycleBank's proprietary technology measures the amount of material recycled and then converts the amount into RecycleBank Points that can be used at hundreds of local and national reward partners. "Through our additional investment in RecycleBank, we are fulfilling our commitment to advance economically viable approaches to recycling collection in the communities we serve," said Scott Vitters, director of sustainable packaging, The Coca-Cola Company. "We believe this program will revolutionize the way consumers view their trash, from disposables to valuable reusables." RecycleBank's long-term connection with households enables reward partners like Coca-Cola to recognize the vast and unique marketing opportunities in RecycleBank. More than 300 local and national businesses have partnered with RecycleBank in order to reach the households that RecycleBank services. Last year, RecycleBank and Coca-Cola formed the RecycleBank Donations Program. The program enables households to donate their RecycleBank Points to the Ocean Conservancy, a nonprofit organization Nonprofit Organization An association that is given tax-free status. Donations to a non-profit organization are often tax deductible as well. Notes: Examples of non-profit organizations are charities, hospitals and schools. committed to clean water issues and the RecycleBank Green Schools program which helps fund environmental initiatives at schools in RecycleBank areas. Coca-Cola pledged to match dollar for RecycleBank Point that was donated. Based on the success of the RecycleBank Donations Program in 2006, Coca-Cola has reconfirmed its commitment for another year long partnership to continue to sponsor these programs. "Coca-Cola believed in RecycleBank when it was just an entrepreneur's vision and has continued to support us since our launch," said Ron Gonen Ron Gonen is a former mobster and cooperating witness. He was born in the Soviet Union into a family heavily involved in black marketeering. His parents immigrated to Israel with him in 1956, in the aftermath of Stalin's death. , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of RecycleBank. "We are proud that our relationship continues to deepen with Coca-Cola as we work together on a number of activities to promote a more sustainable business A business is sustainable if it has adapted its practices for the use of renewable resources and holds itself accountable for the environmental and human rights impacts of its activities. community and to scale RecycleBank nationally." Following Coca-Cola's investment, RRE RRE Red Rock Eater (News Service) RRE Road Race Engineering RRE Remote Roof Easy RRE Residential Real Estate RRE Rise-And-Run-Length Encoding RRE Royal Radar Establishment (Great Britain) Ventures and Sigma Partners Sigma Partners is a major venture capital firm based in Silicon Valley and Boston. Sigma Partners invests in early-stage information technology companies (semiconductor, software and hardware). The firm was founded in 1984 by J. Burgess Jamieson and C. Bradford Jeffries. remain as the largest institutional shareholder group and Ron Gonen, the co-founder and CEO, remains as the largest individual shareholder. RecycleBank currently provides service in New Jersey, Delaware and Pennsylvania and will be launching service nationally in 2008. About RecycleBank RecycleBank is a rewards program that motivates people to recycle. It does this by quickly and easily measuring the amount of material each home recycles and then converting that activity into RecycleBank Points that can be used at hundreds of local and national rewards partners. RecycleBank is simple to implement, market-driven and proven to work, saving municipalities' money and rewarding citizens for their environmental stewardship The integration and application of environmental values into the military mission in order to sustain readiness, improve quality of life, strengthen civil relations, and preserve valuable natural resources. . RRE Ventures and Sigma Partners are the largest institutional shareholder group and Ron Gonen, the co-founder and CEO is the largest individual shareholder. Visit www.recyclebank.com for more information. About The Coca-Cola Company The Coca-Cola Company is the world's largest nonalcoholic non·al·co·hol·ic adj. A beverage usually containing less than 0.5 percent alcohol by volume. beverage company. Along with Coca-Cola, recognized as the world's most valuable brand, the Company markets four of the world's top five nonalcoholic sparkling beverage brands, including the Diet Coke Diet Coke (sometimes known as Diet Coca-Cola, Coca-Cola Light or Coke Light) is a sugar-free soft drink produced and distributed by The Coca-Cola Company. , Fanta and Sprite brands, and a wide range of other beverages, including diet and light beverages, waters, juices and juice drinks, teas, coffees, energy and sports drinks sports drink Performance drink Sports medicine A thirst-quenching beverage used in sports-related activities, which may boost energy and/or help build muscle mass; water, sugar, salt, potassium are common to all SDs. See Hydrotherapy, Water. . Through the world's largest beverage distribution system, consumers in more than 200 countries enjoy the Company's beverages at a rate exceeding 1.4 billion servings each day. For more information about The Coca-Cola Company, please visit our website at www.thecoca-colacompany.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion