Republic Services Announces Partnership with Nikola to Develop and Purchase 2,500 Electric Collection Trucks
PHOENIX, Aug. 10, 2020 /3BL Media/ -- Republic Services, Inc. (NYSE: RSG) today announced a partnership with Nikola Corp. (NASDAQ: NKLA) to develop and purchase 2,500 electric waste and recycling collection trucks, representing the industry's first large-scale commitment to fleet electrification. The zero-emissions vehicles, which will have a range of 150 miles and recharge overnight, are expected to be integrated into Republic Services' fleet beginning in 2023. The deal is expandable to 5,000 vehicles over the life of the agreement.
"This partnership significantly accelerates Republic Services' progress in fleet innovation to drive profitable growth, reduce emissions, enhance customer loyalty and create long-term shareholder value," said Jon Vander Ark, president. "Our agreement with Nikola represents the industry's first large-scale commitment to fleet electrification. We expect to realize significant operating cost savings and environmental benefits from these trucks, and we are confident that our customers, communities and employees will benefit from our bold commitment."
The collaboration with Nikola represents a transformational step forward in Republic Services' efforts to leverage technology and innovation to reduce emissions, increase operational efficiency and provide economical, environmentally sustainable solutions to its customers. Among the many anticipated benefits of fleet electrification are instant torque, no idling, regenerative braking, up to 90 percent lower emissions on a per-mile basis and quieter operation in neighborhoods, as well as significantly lower maintenance costs.
Last year, Republic Services set a long-term sustainability goal to reduce greenhouse gas emissions by 35% and was the first U.S. recycling and solid waste services provider to have its emissions reduction target approved by the Science Based Targets initiative (SBTi). The Company intends to continue investing in innovation to enhance the performance, economics and environmental impact of its fleet and drive value for its stakeholders.
About Republic Services
Republic Services, Inc. is an industry leader in U.S. recycling and non-hazardous solid waste disposal. Through its subsidiaries, Republic's collection companies, transfer stations, recycling centers, landfills and environmental services provide effective solutions to make responsible recycling and waste disposal effortless for its customers across the country. Its 36,000 employees are committed to providing a superior experience while fostering a sustainable Blue Planet® for future generations to enjoy a cleaner, safer and healthier world. For more information, visit RepublicServices.com, or follow us at Facebook.com/RepublicServices, @RepublicService on Twitter and @republic_services on Instagram.