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Recycle Bank Raises $13M (and Recycling Rates to 90%)

What if there were a reason to recycle? Wouldn't it be cool if you were, in some way, reimbursed for all that sticky fingered, paper cutting work that you do every Wednesday evening?

I mean, after all, you are performing a service. Basically, you're a miner. Mining your trash for aluminum, PET plastic, silica and recommended site order viagra cellulose. So why not get wages like miners do? Some people have been asking those questions...and that's why RecycleBank was formed.

But that's not why RecycleBank just got $13M in venture capital funding. They got that money because their system actually works.

RecycleBank puts an RFID chip in all of their recycling bins. The chip is linked to individual's names and accounts. The recycling trucks then weight your recycling (if properly sorted) and give you credits based on the amount of stuff you're recycling. The credits can then be exchanged like airline miles. Except, instead of flights, you get a buck off your latte at Starbucks, or cheaper dog food, or a free rental at Blockbuster.

Of course, there are a few problems with this idea. First, it kinda encourages people to consume more. I don't have much recycling because I drink water and read the newspaper online. If I got incentives for my cans, I might start drinking Mountain Dew again. Another possible issue is theft. As weird as it sounds, neighbors might start swapping bins under the cover of darkness, or even plundering recycleables.

But so far, in pilot projects, that doesn't seem to have been a problem. Two Philidelphia communities saw recycling rates increase from 7% and 35% to 90% each!

I haven't heard of a 90% recycling rate anywhere outside of levitra buylevitra onlin Europe, so those are very exciting numbers. Especially because more people recycling means more raw material per man-hour and vehicle-mile, which signficantly increases the probability that recycling authroties will actually make money.

Via Earth2Tech

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Comments (8)Add Comment
written by EV, March 19, 2008
Of course, there are a few problems with this idea. First, it kinda encourages people to consume more. I don't have much recycling because I drink water and read the newspaper online. If I got incentives for my cans, I might start drinking Mountain Dew again.

I'm guessing you've never lived in an area where they pay you to recycle. Consumption won't be affected. In New England, they have a 5cent/can tax and recycle. A lot of people don't recycle them anyway, even when the recycling machines are in the grocery store.
written by slightlytilted, March 20, 2008
The prospect of having an RFID chip just sitting out in front of my house (attached to my name and account none the less) is quite daunting to me. Especially after they have been proven to canada pharmacy be scanned quite easily.
written by Orwell Green, March 21, 2008
This form of technology is an invasion of rights and privacy. It sounds like Green Orwellian propaganda. I don't think think it is a necessary and buy cialis in canada healthy means of encouraging people to do a simple process, as recycling. Most people who do recycle, are not in it for the extra change in their pocket.
written by Rachel, April 22, 2008
In response to Orwell Green's comment, RecycleBank works by getting more people to recycle. I recycle because I feel that it is my duty. Others aren't motivated by environmental reasons, but clearly are by financial motivators. Hence the dramatic increase in recycling rates. The RFID chip is what is used to determine the lost cost levitra value of cheap viagra from uk the financial motivator.
written by Jessica, May 31, 2008
My neighborhood has RecycleBank and it is awesome. I love it and have never had any problems. Since it started I have earned gift cards to Subway and Starbucks and coupons for CVS and free yogurt. Not only do they reward you but you don't have to sort anything, it all goes in one bin. It's great!
written by Jim, January 13, 2009
Recyclebank is not free - the towns pay them for
the weight diverted .
The RFID invasion is a big issue -
see PAYT program in the U.K.
written by John Styles, February 27, 2009
I wonder if their business model still works - the value of the commodities they recycle have dropped over 50% since they did their last capital raise. Where as recently as June 2008 recycled steel or aluminum was cheaper to remanufacture than to get new supply out of the ground, now the opposite it true (in 2009). Make sure you cash in those lattes sooner than later, the Recycle Bank may need a bailout of its own...
written by penny, June 17, 2009
I think you guys don't get it.
Yes it is great we can recycle, and we always could. But now there is only best offers viagra lowest price a private company that has grown 400% in the last couple of years on peoples hopes and dreams saying they will give us somethin if we recycle more. Wow I was impressed and I mean was.
Does anyone weigh thier recycleables before they throw em in thier bins? I do and how to buy levitra in canada there has not been once that the weight they come up with is right. In fact my last pick up was less then a third of the actual weight I put in. And god help you if you get in a tissy fit and call them about it. In the agreement they are not responsible for any mistakes plain as day. And if you try to viagra approved press the point they will say they will kick you out of the program, but the municipality will still charge you to recycle nothin. Recycle Bank will grow and grow, and with the RFID chip this makes them a real threat to everyones rights and privacy. For Recycle Bank going green is only for the green backs you all stupidly throw at them for a coupon to get half off a latte.smilies/grin.gif

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