Waste and recycling software leader expands position in the high-growth Japanese market
Lexington, Kentucky, Feb. 08, 2022 (GLOBE NEWSWIRE) -- Rubicon Technologies, LLC ("Rubicon" or the "Company"), a digital marketplace for waste and recycling and provider of innovative software-based solutions for businesses and governments worldwide, today announced that its targeted pilot with Odakyu Electric Railway Co., Ltd. ("Odakyu"), a leading transportation, retail, and real estate company in Japan, has successfully transitioned into a long-term, nationwide technology licensing agreement focused on supporting the Japanese waste and recycling industry as it moves towards a more integrated circular economy.
"We are thrilled to be transitioning into a long-term product partnership with Odakyu," said Nate Morris, Founder and CEO of Rubicon. "We believe the Japanese market offers high growth potential to Rubicon and our mission to end waste, and this partnership is proof of the value of Rubicon's suite of technology solutions both in the United States, and around the world."
Operating in Japan since 1948, Odakyu is committed to working collaboratively with Japanese municipalities and industry leaders to identify and solve the local and global challenges of waste. For the past three years, Rubicon's suite of technology solutions has been helping local communities in Japan improve operational efficiency and reduce waste incineration while creating shared value. This new long-term, nationwide agreement will continue to allow Odakyu to deploy Rubicon's technology in order to promote sustainable waste solutions across Japan. In its current form, the partnership is primarily focused on helping city governments implement environmental and circular economy practices.
"After a very successful pilot of Rubicon's technology suite in Japan, we are extremely excited to expand and extend our agreement with Odakyu," said Renaud de Viel Castel, Chief Operating Officer and Head of Global Expansion at Rubicon. "As the Japanese waste and recycling industry redoubles its commitment to sustainable practices, we are proud to support those efforts and look forward to a long and productive working relationship with our partners in Japan."
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 various cloud-based offerings help waste collection companies digitize their operations, while equipping municipalities and businesses of all sizes to adopt a fully digital model in service of initiating or growing their waste and recycling management capabilities.
"We have been working with Rubicon for several years to demonstrate the suitability of their technology for the Japanese market. As a result, we have found not only that their technology suits the Japanese market very well, but it has exceeded our expectations, solving problems in the collection and transportation field, and contributing to a circular economy on a global scale," said Yohei Matsuda, Project Technical Director at Odakyu. "There are high expectations from the Japanese market and Odakyu hopes to build a sustainable society through our partnership with Rubicon and its ever-evolving technology."
For more information on how Rubicon is creating worldwide partnerships to end waste, visit the Global Solutions page on the Company's website.
About Rubicon
Rubicon is a digital marketplace for waste and recycling, and provider of innovative software-based solutions for businesses and governments worldwide. Creating 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. Learn more at Rubicon.com.
Rubicon previously announced an agreement for a business combination with Founder SPAC (Nasdaq: FOUN), which is expected to result in Rubicon becoming a public company listed on the New York Stock Exchange ("NYSE") under the new ticker symbol "RBT" in the second quarter of 2022, subject to customary closing conditions.
About Founder SPAC
Founder is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. While Founder is not limited to a particular industry or geographic region, the company focuses on businesses within the technology sector, with a specific focus on the theme of Digital Transformation. Founder is led by CEO Osman Ahmed, CFO Manpreet Singh, and Executive Chairman Hassan Ahmed. The company's independent directors include Jack Selby, Steve Papa, Allen Salmasi, and Rob Theis. Sponsor and advisor, Nikhil Kalghatgi, leads the company's advisory board.
About Odakyu
Odakyu Electric Railway (Odakyu) is one of the major private railway companies in Japan. With its railway length of 120.5km, it serves over 2 million passengers a day between Tokyo and Kanagawa prefecture. Together with its 100 group companies, other than transportation (including bus and taxi), it conducts a wide range of businesses, such as merchandising, real estate, hotels, and more.
Odakyu has recently entered the waste management business, branding it by the name of "WOOMS", as a new infrastructure to contribute to the Circular Economy. Under the vision of "Beyond Waste", it is aiming to create a world without waste. Learn more at https://www.wooms.jp/
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