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RVM

Recycle Track Systems announces acquisition of Cycle Technology

1:59 min Sorting and collection
New York, United States

Recycle Track Systems, Inc (RTS), a company active in cutting edge traceability and sustainability solutions utilized in the materials, waste, and recycling industry, has acquired the assets of Cycle Technology, Inc (Cycle), including its reverse vending machine (RVM) technology and recycling rewards platform, as part of ongoing commitment to increase innovation by expanding recycling through engagement programs, like gamification and rewards.

Cycle powered by RTS partners with teams across the MLB, MLS, and NFL to increase recycling rates and reduce waste, and today is available in select stadiums. Cycle made its debut with HEINEKEN USA and Inter Miami CF in early 2022 then quickly expanded as part of Anheuser-Busch's National Recycling League, a multi-sports league coalition aiming to reduce waste on game day, to first launch at Washington Nationals' Nationals Park, then with the Philadelphia Eagles. The Eagles were the first team in the NFL to debut the emerging technology, offering prizes from autographed items to even tickets to next year's season opener, for fans who make use of them at their home games at Lincoln Financial Field. This past weekend, RTS and Cycle brought RVM technology to the big game for the first-time with Anheuser-Busch.

Cycle co-founder, Anwar Khan, shared "Cycle and RTS have been collaborating over the last year and it was clear, given their size and scale, for us to formally team up. We are thrilled to expand the impact RVMs have through RTS's expansive portfolio of services and clients, and through the mentorship of their executive team. Greg Lettieri has been a tremendous mentor and resource to Cycle, and we look forward to growing with him and his team's leadership. From humble beginnings in our freshman dorm rooms, all of us on the Cycle team never imagined this outcome when we first started, and we are grateful for all those that have been a part of this journey."

Today, RTS is also the proud sustainable materials management provider for professional teams, including the New York Mets' Citi Field and Brooklyn Nets' Barclays Center, assisting in reduced emissions through increasing diversion from landfill and providing sustainable material management services powered by real-time metrics and feedback regarding the team's waste management practices. With the help of RTS, Philadelphia Union's Subaru Park was able to achieve zero landfill status, meaning that all of the waste generated at games was reduced, reused or recycled.

RTS Chief Executive Officer, Greg Lettieri, "RTS's momentum has been rooted in our ability to deliver cutting-edge waste management solutions that inspire and incentivize consumers to strive for sustainability. Our acquisition of Cycle adds an interactive, real-time recycling experience our customers can leverage. At RTS, Cycle joins Zerowaste.com, Recyclebank and our expanding suite of innovative, industry-leading products that are driving the community engagement and education our customers need to meet their zero waste goals."

Together with Cycle reverse vending machine (RVM) technology and recycling rewards platform, RTS will continue to highlight the importance of existing sustainability efforts on and off the field, by engaging fans on recycling across our network of stadium, event, and other commercial facilities.

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view source version: https://www.prnewswire.com/news-releases/recycle-track-systems-announces-acquisition-of-cycle-technology-301745774.html 

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www.rts.com

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