Is There Any Reason As To Why The Rubicon Technologies (RBT) Stock Expanded By 28%?

At the time of our last check, shares of Rubicon Technologies Inc. (NYSE: RBT) were up 28.11% to trade at $1.41 in the current market.

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What current events took place at RBT?

The Rubicon Board of Directors (the “Board”) nominated chief technology officer Phil Rodoni as chief executive officer (“CEO”) and a member of the Board, effective October 13, 2022, Rubicon Technologies (RBT) said last week.

Throughout this transitional phase, founding CEO Nate Morris will continue to act as chairman of the board, director, and strategic advisor. Lead independent director Osman Ahmed has been appointed. As Rubicon aims to realize its purpose of ending waste through the digital revolution of the trash and recycling sector, Rodoni’s appointment to the position of CEO is a critical component of the company’s strategic strategy.

Project just finished by RBT:

Using used asphalt shingles, mushrooms, and mycoremediation technology, Rubicon Technologies, Lendlease, Mycocycle, and Rockwood Sustainable Solutions recently announced the completion of a successful pilot project. The goal was to reduce construction and demolition waste and produce a sustainable and reusable product to further promote a circular economy.

In landfills, where they take up to 300 years to decompose, 11 to 13 million tons of asphalt shingles are disposed of annually, according to the Environmental Protection Agency. Lendlease, Rubicon, Mycocycle, and Rockwood Sustainable Solutions proposed a solution to reuse the material in a new capacity after observing the significant amount of waste that was generated by used asphalt roofing shingles from a recent re-roofing project at their Fort Campbell Army installation in Kentucky.

How this works for RBT?

This pilot’s successful conclusion is a wonderful illustration of environmental innovation in action. The goal of Rubicon Technologies (RBT) is to eliminate waste, and inventions like this help to discover circular second-life uses for materials that are difficult to recycle. When environmental innovation and the circular economy come together, partnerships like the one between Rubicon, Lendlease, Mycocycle, and Rockwood Sustainable Solutions are feasible.

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