RecycleMatch Launches Online Bidding for Waste and Recyclables
(3BLMedia/theCSRfeed) HOUSTON, TX - February 2, 2011 - RecycleMatch, the first online B2B marketplace for business recycling and waste diversion, today announced a new CEO and a new technology release to uniquely address the requirements of companies generating waste and recyclables, representing a $90 billion market opportunity.
RecycleMatch gives companies a new way to buy, sell or give away their large volumes of waste and commodity recyclables. Companies list materials free of charge on the site, with their brands and identities kept confidential. Prospective buyers can ask questions, get samples and make offers on the materials which can be reused or upcycled as well as recycled. The listing company selects the party that is the right match for their goals, which may include environmental requirements as well as price.
Corporate zero-waste initiatives from Wal-Mart, IBM and others are compelling innovation in the waste and commodity recyclables markets, which combined represent nearly $90 billion in total market opportunity. Companies in the US today spend $22 billion to landfill materials they no longer need, the value of which is estimated at $20 billion. RecycleMatch’s new technology release allows them to capture this market opportunity as well as shift the existing $47.3 billion commodity recycling market to more efficient online transactions.
RecycleMatch has brought in Chris Porch, a software and online marketplace innovator, as the company’s CEO. Porch has led multiple start-ups from inception through rapid growth, most recently at Zag.com, a leading marketplace for new and used cars on the internet, where he was president and COO. Porch was also CEO of BetweenMarkets and Co-founder and VP of Trilogy Software.
“Due to changing customer demands and supply chain mandates by industry leaders, companies are scrambling to reach zero waste. 70% of materials that get dumped into landfills can be repurposed, and the RecycleMatch marketplace finds those alternative uses. Even commodity recyclables already being diverted benefit from better market exposure and pricing. We’re the first marketplace designed specifically for the needs of large corporations who want control, protection, and trust in the entire process. This is a large and exciting opportunity to help companies reduce costs, strengthen their brands and help the environment,” says Porch.
“When I first started studying this market in 2000, the business community hadn’t made the connection between the environmental and the business impact. The shift that has occurred in the last ten years is astounding. Now businesses are demanding more innovative solutions, and they’re willing to take a more active role to manage their waste like a resource,” says Brooke Farrell, co-founder and CMO.