Greenredeem Acquires Recyclebank’s UK Division

Greenredeem, based in the U.K., has acquired Recycle Rewards U.K. from U.S.-based Recyclebank. Recycle Rewards U.K. operates recycling incentive and rewards programs.

According to a press release, the acquisition marks Greenredeem’s efforts to motivate people to recycle outside their place of work. Noing the success achieved by Recycle Rewards in raising recycling rates across U.K. boroughs, Greenredeem says it is excited by the opportunity to bring together the two businesses.

Launched in 2011, Greenredeem is a recycling initiative that combines interactive reverse vending kiosk technology with a web-based membership and reward scheme. The company says its program targets the U.K.’s "on-the-go" recycling sector by targeting cans and bottles currently sent to landfill from public litter bins.

Greenredeem and Recycle Rewards will operate on a business-as-usual basis for the next few months. The companies are reportedly working toward the launch of a new consumer brand serving the U.K. market.

“We see huge potential for bringing together Recycle Rewards and Greenredeem onto the same platform,” says Matthew Ball, Greenredeem’s business development manager. “At Greenredeem we’ve always been keen to innovate through constant appraisal of market trends and investment in R&D. Adding the knowledge and experience of how to motivate people to recycle more at home will create a fantastic green future.”

Rob Crumbie director of marketing and communications at Recycle Rewards, says, “We’re looking forward to the exciting potential of bringing our two businesses together. Over the last couple of years, we have seen recycling rates in England start to slow. At the same time we have demonstrated that Recycle Rewards can grow recycling rates faster than the national average. We’re delighted that Greenredeem has acknowledged this and sees it as a strategic incentive for this partnership. Knowing that our members could be rewarded for recycling on the go, as well as at home in the future, can only be good for the future of recycling in the U.K., and for the environment.”