In a move to add to its sustainability services portfolio, RoadRunner Recycling has acquired waste and recycling smart metering company Compology.
The move will broaden Pittsburgh-based RoadRunner's capabilities in data collection, artificial intelligence (AI), and ESG reporting.
Jason Gates, Compology co-founder and CEO, told the media: "Data-driven solutions are essential tools for businesses to achieve their sustainability goals. Combining our platforms is a monumental step toward making cost-effective, sustainable waste management a reality for organizations."
San Francisco-based Compology's smart cameras and AI provides key waste insights when installed in dumpsters. Along with the company's 150 million data points, RoadRunner now will further be able to increase recycling rates and give transparency to businesses and governments seeking to reduce their environmental impact.
RoadRunner currently estimates that its solutions increase recycling rates for its clients by an average of 10 times.
Over the past year, the company has more than doubled its workforce and stood at 600 employees before the acquisition. It stated that it will continue to "grow its team and expand to new markets" as a result of the acquisition.
"The future of sustainable waste and recycling management requires smart technology and intelligence," said Graham Rihn, RoadRunner Recycling founder and CEO. "We couldn't be more excited to join forces with Compology, a team that brings industry-leading technology and a shared passion for using data to help businesses increase recycling and operate more sustainably, while spending less for better service."
The financial terms of the deal were not disclosed.