NZ Super Fund Makes Expansion Capital Investment in Rubicon

Auckland, New Zealand – May 10, 2018

The NZ Super Fund has added another expansion capital investment to its NZ$38b (US$27b) portfolio, investing US$65m in cloud-based waste and recycling technology company Rubicon (www.rubiconglobal.com/).

Headquartered in Atlanta, Rubicon (‘Rubicon’) provides an innovative technology platform for waste and recycling. It connects customers to a network of independent waste haulers and is leading the development of smart city products in the waste and recycling space. The company’s goal is to help businesses, governments, and organizations confidently execute on their sustainability goals through their waste management operations.

Mark Fennell, the NZ Super Fund’s Acting Chief Investment Officer, said Rubicon provided an attractive opportunity for the Fund to increase its exposure to expansion capital.

Following the Rubicon investment, around 2% of the NZ Super Fund is invested in expansion capital investments. The Fund has direct investments in fuel cell manufacturer Bloom Energy, dynamic glass manufacturer View Inc. and waste-to-energy company LanzaTech. In New Zealand, the NZ Super Fund has supported a large number of small and medium-sized high growth companies via external managers Direct Capital, Pioneer Capital, Pencarrow, Waterman Capital and Movac.

Mr. Fennell said: “It’s pleasing to be able to leverage our timeframe, scale, and diversification to support growth companies such as Rubicon that, while established from a technology point of view, are pre-IPO. As a long-term investor, the NZ Super Fund is able to invest in high growth companies with a view to realizing long-term potential. These expansion capital investments are an important part of our investment mix because they can help drive long-run returns.”

“This particular investment also aligns with the Fund’s strategy to identify investments that have the potential to benefit from the global transition to a low-carbon economy.  Rubicon, which aims to divert waste from landfills and reduce greenhouse gas emissions, has strong sustainability credentials and complements our climate change investment risk strategy.”

Rubicon’s SVP Strategic Initiatives, Michael Allegretti said: “As a company with a deep commitment to sustainability, Rubicon is proud to be backed by the NZ Super Fund, one of the world’s best performing sovereign wealth funds and a global leader in responsible investment.  We share their belief that environmental, social and governance factors are material to long-term financial returns and look forward to adding value to the Fund.”

About Rubicon

Rubicon is the worldwide leader in sustainable, cloud-based waste and recycling solutions.  Using its proprietary technology platform, the company provides comprehensive waste stream solutions that enable companies and governments to reduce expenses, increase recycling, and find economic value in their waste. Rubicon’s goal is to create sustainable solutions for businesses, governments, and the planet. For more information please visit www.rubiconglobal.com.

About The New Zealand Superannuation Fund

The $38 billion NZ Super Fund is a global investment established by the New Zealand Government to help pre-fund universal superannuation. A long-term, growth-oriented investor, the Fund has returned 10% per annum since inception in 2003. For more information please visit www.nzsuperfund.co.nz.

Press Coverage

“Smart” Waste Management

Waste management and recycling have taken on increased importance as retailers commit to corporate sustainability goals. Chain Store Age spoke with Perry Moss, chief advisor at Rubicon, about challenges, best practices and how technology is impacting waste management operations. What are the top recycling and… Keep Reading...

Baltimore Makes Investments in Recycling

The city resumes curbside recycling, invests in routing software and plans to launch a recycling education campaign. The Baltimore City Department of Public Works (DPW) resumed curbside residential recycling collections Jan. 19. The city had suspended collections Aug. 31, 2020, after facing delays in collecting… Keep Reading...

Curbside Recycling is Back in Baltimore, and Drivers are Using Some New Tech

As weekly collection resumes for the first time in months, the city is implementing software to digitize route information. Curbside recycling is returning to Baltimore on Tuesday (1/19) with a new digitized system to help drivers navigate collection routes. The return comes more than four… Keep Reading...

Press Releases

Rubicon Certified as a Great Place to Work® Four Years in a Row

Software company builds on established track record of business culture excellence New York, NY (February 9, 2021) —Rubicon®, a software company that provides smart waste and recycling solutions to businesses and governments worldwide, is proud to announce that the company has been certified as a… Keep Reading...

Speaker Series: Rubicon Speaking at GreenBiz 21

WHO: Meredith Leahy, Waste Diversion Manager at Rubicon (Twitter, LinkedIn) WHAT: The Business Case for Rethinking Plastics What are the business incentives and best practices for rethinking plastics packaging in your business strategy? In the world of packaging and sustainability, plastics continue to be a… Keep Reading...

Rubicon’s Ryan Cooper Appointed to US Composting Council Board of Directors

New York, NY (January 28, 2021) — Rubicon, a software company that provides smart waste and recycling solutions to businesses and governments worldwide, is proud to announce that the company’s Waste Diversion Manager and Organics Recycling Lead, Ryan Cooper, has been appointed to the US… Keep Reading...