Rheaply acquires Materials Marketplace to scale reuse across North America

Rheaply named Industry Disruptor at 1871 Momentum Awards

|
September 23, 2022

Rheaply was honored at the 15th annual 1871 Momentum Awards in Chicago, IL on September 22, 2022. The ceremony celebrated both 15 years of the Momentum Awards and 10 years since 1871 first opened its doors. In addition to these milestones, 1871 CEO (and Rheaply board member) Betsy Ziegler acknowledged the incredible impact of the community and laid out the path forward for the organization as an independent, nonprofit innovation hub. The ceremony also featured recorded remarks from both Chicago Mayor Lori Lightfoot and Illinois Governor Pritzker. 

Rheaply was named the Industry Disrupter Award winner at 1871’s 2022 Momentum Awards. This award is presented to a company that has developed or introduced an ingenious, non-traditional, and innovative product or service that has significantly disrupted its industry.

“This year’s finalists and winners were selected from our most impressive and competitive nominee pool to date, which highlights the incredible growth of our tech community since 1871 first opened a decade ago, ” said Larry Eppley, Chairman of 1871 and Sheppard Mullin’s Chicago office founding managing partner. “The 15th Annual Momentum Awards was a celebration of their past successes and bright futures, as well as a reminder of the impact our community will continue to have for years to come.” 

What’s next for Rheaply?

It’s long been our belief that the traditional take-make-waste linear economic model of production and consumption hinders our chance to reduce the effects of global warming. We’re harnessing the largest untapped opportunity to reduce carbon emissions through operationalizing the circular economy by reusing workplace resources often prone to waste—furniture, fixtures and equipment.

We want every organization to think more about the carbon emitted during the manufacturing process, as well as the carbon associated with everything from office chairs and desks to the building materials associated with structures. Scaling the visibility and transferability of these items, and allowing organizations to measure the value, can provide the triple bottom line win with reductions in purchase price, waste, and embodied carbon emissions.As the company has grown, we have sharpened our focus on embodied carbon in the built environment, a sector that produces a huge share (37%) of total carbon emissions globally. Our continuous improvement of the Rheaply platform has enabled organizations across a wide range of verticals to better understand how the reuse of resources translates to avoided carbon emissions.  New features like the estimated embodied carbon avoidance report equip organizations with insights to take action more effectively against climate change.