Goodwin Procter advised green rewards program Recyclebank, a subsidiary of Recycle Rewards, Inc., in a strategic investment by Texas-based Waste Management, Inc., announced October 13, 2011. Waste Management is the leading provider of comprehensive waste management services in
Recyclebank rewards people for taking everyday green actions, such as using less energy and increasing at-home recycling. By taking steps to help the environment, people earn points that can be redeemed for discounts and deals from local businesses and national brands.
As part of the investment, Recyclebank acquired Waste Management’s Greenopolis social recycling platform. Greenopolis rewards consumers for recycling on-the-go by combining incentives with collection and tracking technology. The Greenopolis acquisition also encompasses the greenopolis.com website, the RecyclePix smart phone app, and the Oceanopolis Facebook game.
Goodwin has advised Recyclebank since 2010, most recently on its acquisition of online green living database GreenYour.com from Go Ventures.