FREMONT, Calif., March 07, 2023 (GLOBE NEWSWIRE) -- EverestLabs, developer of RecycleOSSM, the first AI-enabled operating system for material recovery facilities (MRFs), has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2023 joining the ranks of companies like OpenAI, Microsoft, Disney and more. Moreover, the company was named No. 2 in Fast Company’s 10 most innovative companies working on social good.
“It's an honor to be recognized by Fast Company for our innovations and work toward social good,” said JD Ambati, founder and CEO at EverestLabs. “We’re proud to be a leader in bringing impactful innovations to the recycling industry and circular economy. It is this kind of recognition that reinforces our commitment to building a more sustainable future for our planet.”
This year’s list highlights the businesses at the forefront of their respective industries, paving the way for the innovations of tomorrow. These companies are setting the standard with some of the greatest accomplishments of the modern world.
Today, sorting recyclable materials from the waste stream is an enormously inefficient process. To keep materials from ending up in landfills, imprecise industrial sorting systems, augmented by human sorters, are used to separate containers, bottles, packaging, and more from the stream. This inefficient process results in only 40% of materials being recycled.
EverestLabs uses modern technology to empower today’s Material Recovery Facilities (MRFs) to reduce inefficiencies and recover more materials. EverestLabs uses AI to analyze the waste stream traveling on fast-moving conveyor systems to identify objects that are often otherwise unrecognizable. EverestLabs’ AI then controls robotic cells that pick these objects 200% to 300% faster and more consistently than human sorters, with an industry-leading 90% success rate. EverestLabs also provides real-time, actionable data to MRF operators that enables them to optimize their operations and equipment, quality control outgoing commodities, meet municipal and state audit requirements, and avoid safety incidents.
In 2022, EverestLabs added the nation’s largest recyclers to their customer list, including Republic Services, Sims Municipal Recycling, Recology and others. Across customer implementations, EverestLabs identified more than 1.5 billion recyclable materials in the waste stream and prevented more than 35 million objects from being landfilled – the equivalent of 25 million KWh of energy consumption and 300 metric tons of CO2 emissions.
Fast Company’s editors and writers sought out the companies making the biggest strides around the globe. They also judged nominations received through their application process.
“What a strange and thrilling year it has been to honor this year’s Most Innovative Companies. This year’s list compiles some of the most cutting edge groundbreakers who are changing our world every single day, from legacy organizations like McDonald’s to upstarts like MrBeast and institutions such as NASA. Everyone on this list does something completely, uniquely different, yet, they all have one thing in common: innovation,” said Fast Company editor-in-chief Brendan Vaughan.
Fast Company will host its third annual Most Innovative Companies Summit on April 19 and 20. The virtual summit celebrates the Most Innovative Companies in business, and provides an inside look at cutting-edge business trends and what it takes to innovate in 2023. Fast Company’s Most Innovative Companies issue (March/April 2023) is available online here, as well as in-app form via iTunes, and on newsstands beginning March 14. The hashtag is #FCMostInnovative.
About EverestLabs
EverestLabs is a leading climate tech company and the developer of RecycleOS℠, the only enterprise AI software and automation solution for solving critical problems in recycling plants, or materials recovery facilities (MRFs). With RecycleOS, MRFs can exponentially increase materials recovery and reuse recyclables in manufacturing, thus, preventing greenhouse gas emissions and energy usage for manufacturing virgin packaging. EverestLabs is funded by leading American, Canadian, and Japanese venture funds.
About Fast Company
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.
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