PA Environment Digest

Recyclebank, a green lifestyle community that rewards people for taking everyday green actions, this week announced it has taken the top spot on the Wall Street Journal's prestigious ranking of the Top 10 Clean-Tech Companies.

The ranking was announced Wednesday at the Journal's ECO:nomics Executive Conference in Santa Barbara, Calif., a forum for the world's top CEOs, entrepreneurs, policymakers and industry experts to assess the risks and opportunities emerging within the environmental sector.

As part of the recognition, Recyclebank has also been named to the Journal's "Next Big Thing" ranking of the top 50 U.S.-based venture-backed companies across all industries, which will be published on March 10.

RecycleBank started in Philadelphia with a pilot program which tripled recycling rates and collections in a pilot area of the City in 2005.

The Top 10 Clean-Tech ranking seeks to identify green companies with the greatest potential to succeed in an increasingly competitive sector. Recyclebank tops the list among 500+ other U.S.-based venture-backed businesses in clean technology and was selected based on a rigorous process that reviewed amount of capital raised in the past three years; track records of the executive team, managers and investors; percent change in its valuation in the past 12 months; and finally, which company offers the best odds for success.

"Recyclebank is off to an incredible start this year: we've launched a new and improved online customer experience and developed an innovative plan to counterbalance landfill. The recognition by the Wall Street Journal as the number one company in clean technology adds to our momentum and we are simply thrilled," said Jonathan Hsu, CEO of Recyclebank, from the ECO:nomics Conference. "We firmly believe that motivating consumers to take small green actions can have a significant and long-lasting impact on the environment. This recognition empowers us to continue our mission of realizing a world without waste."

In addition to attending the ECO:nomics Conference, Hsu will take part on the panel, "Uncovering The Next Big Thing," on March 4, moderated by Wall Street Journal's Deputy Managing Editor Alan Murray.

Recyclebank has 165+ employees and investors include Generation Investment Management, Kleiner Perkins Caulfield and Byers, Paul Capital Investments, Physic Ventures, RRE Ventures, Sigma Partners and The Westly Group.

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