New agreement expands productive and
longstanding relationship between the two companies, grows current
relationship to include plastic film and green waste
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 announced that it has signed a
two-year agreement with Walmart, Inc. (“Walmart”) (NYSE: WMT), to
continue to increase the multinational retail corporation’s waste
diversion from landfills, consolidate services, and provide
enhanced account management for distribution centers and retail
stores.
Walmart understands that for a business to last, it must have a
fundamental reason for being, which is found in the value it
creates not only for shareholders, but for the world. Rubicon’s
mission is to end waste. By collaborating with Rubicon and others,
Walmart continues on a path to becoming a regenerative company, one
dedicated to placing nature and humanity at the center of its
business practices.
Rubicon’s market-leading RUBICONConnect™ product is deployed
across 70 of the company’s distribution centers, assisting with
waste and recycling programs and delivering enhanced sustainability
data, analytics, and reporting capabilities. Rubicon uses this data
to increase tonnage per haul, which eliminates unnecessary trips to
service partially full containers. This reduces fuel consumption
and its associated carbon impact, trip hours, and wear and tear on
the road.
Walmart aims to reduce consumption and waste as part of the
larger global movement towards a more circular economy, which
encompasses a transition from a “take-make-dispose” approach to one
that emphasizes the reuse, recycling, and regeneration of
materials. It aspires to achieve zero waste in its global
operations and to work with suppliers, customers, and communities
to accelerate the adoption of innovative packaging and products
designed for circularity. Since the two companies began working
together in 2013, Rubicon has supported Walmart in a number of
circularity projects. The new agreement expands the relationship
between the two companies to include the collection and recycling
of plastic film in distribution centers, and the collection of
landscaping and green waste. These projects take place alongside
day-to-day waste and recycling collection at Walmart stores.
“We are thrilled to announce this extension agreement with
Walmart,” said Phil Rodoni, CEO of Rubicon. “Rubicon’s mission is
to end waste. By expanding our work with the global,
transformational brand that is Walmart, we are accelerating this
mission as we strive to advance our shared goal of a world without
waste.”
With this extended agreement, Rubicon will continue to bring its
suite of cloud-based software products, and the power and scope of
its network of more than 8,000 hauler and vendor partners, to bear
in providing scalable waste, recycling, and sustainability
solutions to Walmart in support of Walmart’s environmental and
business goals.
Waste is a global challenge and a global opportunity. Rubicon
partners with businesses and governments around the world to
advance its mission through zero-waste, landfill diversion, and
smart city solutions. The Company’s suite of cloud-based products
can help waste collection organizations digitize operations,
confirm service, optimize routes, and deliver exceptional customer
service while improving sustainability outcomes.
About Rubicon
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 www.Rubicon.com.
About Walmart
Walmart Inc. (NYSE: WMT) helps people around the world save
money and live better - anytime and anywhere - in retail stores,
online, and through their mobile devices. Each week, approximately
230 million customers and members visit more than 10,500 stores and
numerous eCommerce websites under 46 banners in 24 countries. With
fiscal year 2022 revenue of $573 billion, Walmart employs
approximately 2.3 million associates worldwide. Walmart continues
to be a leader in sustainability, corporate philanthropy and
employment opportunity. Additional information about Walmart can be
found by visiting https://corporate.walmart.com.
Forward-Looking Statements
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221102005378/en/
Investor Contact – Rubicon Technologies: Sioban Hickie,
ICR, Inc. RubiconIR@icrinc.com
Media Contact – Rubicon Technologies: Dan Sampson Chief
Marketing & Corporate Communications Officer
dan.sampson@rubicon.com RubiconPR@icrinc.com
Rubicon Technologies (NYSE:RBT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Rubicon Technologies (NYSE:RBT)
Historical Stock Chart
From Jul 2023 to Jul 2024