New York, NY – April 3, 2023 – Rubicon Technologies, Inc. (“Rubicon” or “the Company”) (NYSE: RBT), a leading digital marketplace for waste and recycling and provider of innovative software-based products for businesses and governments worldwide, today shared an update regarding the Company’s leadership in organics recycling.
Rubicon has been active in its advocacy for a stronger national infrastructure around organics recycling for years and continues its leadership role as generator demand grows. The Company acknowledges encouraging signs with recent changes in legislation and new organics haulers and processors entering the market, all of which helps to strengthen local, state, and national organics recycling networks. However, significant challenges to successful delivery and adoption of scalable solutions remain.
Rubicon’s work with its city customers is detailed in a recent case study, where a successful partnership saw over 1,800 tons of food waste diverted from landfill, which avoided 1,115 metric tons of C02e emissions (the equivalent of taking 240 passenger vehicles off the road annually.) Demand from generators both large and small continues to increase alongside their sustainability goals. As the case study shows, cities are now joining ranks with businesses, seeking organics recycling solutions to meet municipal diversion goals. Haulers that were once solely focused on municipal solid waste (MSW) are adjusting their fleets to include new organics trucks while smaller, local organics haulers are enjoying growth as route density improves for commercial and residential organics pick-ups.
As a provider of software products to the waste and recycling industry, Rubicon is acutely aware of the challenges and opportunities facing organics recycling advocates at every point in the supply chain. At the recent Restaurant Facility Management Association (RFMA) Annual Conference in San Antonio, TX, Ryan Cooper, Vice President of Circular Economy Solutions and Organics Recycling Lead at Rubicon, spoke on a panel alongside other industry leaders, and noted that there were persistent challenges within this segment of the industry, such as cases in which organics recycling is mandated in cities, states, or regions, but frequently the required infrastructure is not in place to enable compliance. This means that generators often need to find creative solutions to stay compliant and achieve sustainable solutions.
Cooper said that in these cases the infrastructure often grows in a repeated pattern. For example, individuals who are passionate about compost start by doing local residential pickups but find that demand is high enough that they can establish a commercial or even municipal-scale composting business. Since 2019, the number of organics recycling programs that Rubicon manages have increased by nearly 300%, which reflects a roughly 40% increase in tonnage and approximately 100% increase in number of hauler partners.
In recognition of his long-term advocacy for organics recycling across the country and extensive track record of thought-leadership in the space, Cooper was also recently named Volunteer of the Year by the U.S. Composting Council (USCC) at the organization’s annual conference, COMPOST 2023.
For more information on how Rubicon is deploying its market-leading technology products to equip businesses, cities, and haulers with the tools and software they need to support organics recycling, meet sustainability goals, and accomplish its mission of ending waste, visit the enterprises, governments, and haulers pages on the Company’s website.
Rubicon Technologies, Inc. (NYSE: RBT) is a digital marketplace for waste and recycling, and provider of innovative software-based products for businesses and governments worldwide. Striving to create a new industry standard by using technology to drive environmental innovation, the company helps turn businesses into more sustainable enterprises, and neighborhoods into greener and smarter places to live and work. Rubicon’s mission is to end waste. It helps its partners find economic value in their waste streams and confidently execute on their sustainability goals. To learn more, visit rubicon.com.
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, are forward-looking statements. When used in this press release, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Rubicon Technologies, Inc. (“Rubicon”) and its management, are inherently uncertain; factors that may cause actual results to differ materially from current expectations include, but are not limited to: 1) the outcome of any legal proceedings that may be instituted against Rubicon or others following the closing of Rubicon’s business combination with Founder SPAC (the “business combination”); 2) Rubicon’s ability to meet the New York Stock Exchange’s listing standards following the consummation of the business combination; 3) the risk that the business combination disrupts current plans and operations of Rubicon as a result of consummation of the business combination; 4) the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; 5) costs related to the business combination; 6) changes in applicable laws or regulations; 7) the possibility that Rubicon may be adversely affected by other economic, business and/or competitive factors; and 8) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Rubicon’s Registration Statement on Form S-1 filed with the U.S. Securities and Exchange Commission (“SEC”), and other documents of Rubicon filed or to be filed with the SEC. Although Rubicon believes the expectations reflected in the forward-looking statements are reasonable, nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward looking statements will be achieved. There may be additional risks that Rubicon presently does not know of or that Rubicon currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Rubicon does not undertake, and expressly disclaims, any duty to update these forward-looking statements, except as otherwise required by applicable law.
Sioban Hickie, ICR, Inc.
Chief Marketing & Corporate Communications Officer