Recycle Track Systems Secures Financing to Accelerate AI Innovation and Expand Sustainable Waste Solutions Across North America

NEW YORK, Jan. 24, 2025 /PRNewswire/ -- Recycle Track Systems, Inc. (RTS), a pioneer in transforming waste and recycling management, proudly announces the closing of financing, raising over $40 million to drive innovation and reshape the future of waste management. This funding milestone will accelerate RTS's mission to deliver smarter, cleaner, and more sustainable solutions through groundbreaking AI-powered technology like the revolutionary Pello sensor.

The round was led by current investor Edison Partners, with participation from Volition Capital, StepStone Capital Partners, and other major stockholders, underscoring strong market confidence and enabling the company to expand its footprint across the United States and Canada.

Greg Lettieri, Co-Founder and CEO of RTS, said:
"This round further strengthens RTS's position as a pioneer in AI-powered waste management. The continued support from our investors reflects the market's trust in our innovative approach to sustainability. This capital will accelerate our investments in AI, automation, and expand the deployment of Pello sensors across our customer base, enabling us to collect real-time waste data that sets a new standard for the industry. With this data, we'll continue to drive innovation and advance how waste management is approached, unlocking new efficiencies and insights that will shape the future of the industry."

Larry Cheng, Managing Partner at Volition Capital, said:
"We've seen RTS grow from a promising startup to an industry leader driving real change in waste management. This funding further accelerates RTS's momentum, pushing the boundaries of AI and automation while expanding their impact across North America, solidifying their position as the industry's most innovative and impactful player."

Chris Sudgen, Managing Partner at Edison Partners, said:
"Edison is thrilled to lead this additional investment and continue our partnership with the company and other existing investors. RTS' innovative technology and best-in-class execution in the waste and recycling management category continues to generate significant value for customers, resulting in the company capturing incremental market share each year. RTS is at an incredibly exciting inflection point and we couldn't be more excited to support the company on the next leg of its remarkable journey."

Shazi Visram, Board Member at RTS and Founder of Happy Baby Organics and HealthyBaby Verified Safe Diapers, said:
"RTS is uniquely positioned to help businesses and municipalities create healthier, more sustainable communities where our waste is better managed for our next generations. With a strong and passionate leadership team and solid foundation, I have full confidence in RTS's ability to lead the transformation of this industry towards a better way. I'm beyond proud to be on this transformative journey from the early days to a brighter future that benefits us all."

Deploying Pello AI Technology: Redefining Waste Management
At the heart of RTS's innovation is Pello, a cutting-edge AI-powered sensor designed to transform waste and recycling operations. Pello provides real-time insights into container contents, fill levels, contamination, bin location, and temperature. Its intuitive dashboard enables businesses to optimize hauling, automate pickups, and accurately track ESG commitments, all while driving waste diversion and sustainability efforts.

Shaping Urban Waste Management Through Commercial Waste Zones (CWZ)
RTS has further solidified its leadership in the industry by securing a ten-year contract in New York City. As the youngest company selected through a highly competitive government RFP process, RTS stands out as one of five awardees for city-wide containerized services and as a zone awardee for three commercial waste zones. By integrating cutting-edge technology with municipal systems, RTS enhances customer service, optimizes collection tracking, and drives waste diversion efforts. In partnership with trusted, locally established haulers—Winters Bros., City Waste Services of New York, and Regency Recycling—RTS is advancing sustainability initiatives across all five boroughs.

This initiative is part of RTS's broader strategy to grow its footprint across the United States and Canada, bringing AI-powered solutions to more cities and municipalities. The company's technology-driven approach ensures greater efficiency and improved waste diversion, aligning with environmental goals and sustainability commitments nationwide.

Looking Ahead: A Sustainable Future
This new funding will fuel RTS's next wave of innovation, expanding its AI-driven solutions and empowering businesses and municipalities across North America to accelerate the transition to a cleaner, more sustainable future.

About Recycle Track Systems
Recycle Track Systems, Inc. (RTS) is an industry leader in waste management, harnessing cutting-edge technology to transform how businesses and municipalities handle waste. RTS leverages AI, automation, and data analytics to optimize waste collection, diversion, and recycling programs, making sustainability easier, more efficient, and cost-effective. Key offerings such as the Pello sensor, the Cycle reverse vending rewards program, and full-service waste and recycling solutions empower clients to improve operational efficiency and reduce their environmental impact. With a focus on innovation and operational excellence, RTS is committed to creating a cleaner, more sustainable future. For more information, visit rts.com or follow RTS on LinkedIn, Facebook, Instagram, and X.

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SOURCE Recycle Track Systems (RTS)