Rubicon Announces Multi-Year Extension Agreement with Tuesday Morning

Lexington, Kentucky — Rubicon Technologies, LLC (“Rubicon” or the “Company”), a digital marketplace for waste and recycling and provider of innovative software-based solutions for businesses and governments worldwide, today announced that it has signed an extended two-year agreement with Tuesday Morning, Inc. (“Tuesday Morning”), a leading destination for unique home and lifestyle goods, to continue to increase the retailer’s waste diversion from landfill, consolidate service, and provide enhanced account management across its portfolio of stores.

Rubicon’s market-leading RUBICONConnect™ product is currently deployed across all Tuesday Morning locations in the United States, numbering 490 in total, assisting with waste and recycling programs and delivering enhanced sustainability data, analytics, and reporting capabilities.

Headquartered in Dallas, Texas, Tuesday Morning specializes in name-brand products for the home, selling high-quality goods at prices below those found in boutique, specialty, and department stores. When Tuesday Morning first began working with Rubicon in September 2018, its goal was to recycle more of its wasted cardboard while providing cost savings. Over the next three years, Tuesday Morning, working with Rubicon, increased not only its cardboard recycling, but also its mixed recycling, construction and demolition recycling, and its organics recycling as well. As a result, in 2021 Tuesday Morning had an overall diversion from landfill rate of 43.7 percent—which included 9,685 tons of cardboard, and 1,439 tons of mixed recycling—all while keeping its bottom line in check.

“We are thrilled to announce this extension agreement with Tuesday Morning,” said Nate Morris, Chairman and CEO of Rubicon. “The company is a national leader in the retail space, with hundreds of stores serving neighborhoods all across America. Tuesday Morning is a prime example of how environmental innovation can be found all over our great country, and their most recent waste diversion statistics are a testament to their leadership and willingness to put sustainability at the heart of their business.”

Waste is a global challenge and a global opportunity. Rubicon partners with businesses and governments around the world to advance its mission through zero-waste, landfill diversion, and smart city solutions. Rubicon’s suite of cloud-based products helps waste collection companies digitize their operations, while equipping municipalities and businesses of all sizes with the tools to adopt a fully digital model, in service of initiating or growing their waste and recycling management capabilities.

“At Tuesday Morning, our customers come to us because they know that they will find an exceptional assortment of brand names at great prices,” said Mike Malone, Manager of Store Facilities at Tuesday Morning. “What many of our customers may not know is how much we have invested into our sustainability journey over the years. Through our work with Rubicon, we have a landfill diversion rate coming up on 50 percent. Rubicon’s products, and the RUBICONConnect™ portal in particular, have greatly improved our processes for waste, recycling, and landfill diversion, and we look forward to working with Rubicon for many years to come to continue to improve these processes.”

In this extended agreement, Rubicon will continue to bring its suite of cloud-based software products, and the power and scope of its network of more than 8,000 hauler and vendor partners, to bear in providing scalable waste, recycling, and sustainability solutions to Tuesday Morning in support of the company’s environmental and business goals.

About Rubicon

Rubicon is a digital marketplace for waste and recycling, and provider of innovative software-based solutions for businesses and governments worldwide. Creating a new industry standard by using technology to drive environmental innovation, the Company helps turn businesses into more sustainable enterprises, and neighborhoods into greener and smarter places to live and work. Rubicon’s mission is to end waste. It helps its partners find economic value in their waste streams and confidently execute on their sustainability goals. Learn more at Rubicon.com.

Rubicon will be hosting a Virtual Analyst & Investor Day on Tuesday, April 12, 2022 at 11:00 am EDT. During the two-hour virtual event, members of the Rubicon and Founder SPAC executive teams will provide an overview of the Company, an established global leader in providing cloud-based waste and recycling solutions to businesses and governments around the world. In addition, the formal presentation will be followed by a live question and answer session hosted by Rubicon and Founder management. To register for this virtual event, please click here.

Rubicon previously announced an agreement for a business combination with Founder SPAC (Nasdaq: FOUN), which is expected to result in Rubicon becoming a public company listed on the New York Stock Exchange (“NYSE”) under the new ticker symbol “RBT” in the second quarter of 2022, subject to customary closing conditions.

About Founder SPAC

Founder is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. While Founder is not limited to a particular industry or geographic region, the company focuses on businesses within the technology sector, with a specific focus on the theme of Digital Transformation. Founder is led by CEO Osman Ahmed, CFO Manpreet Singh, and Executive Chairman Hassan Ahmed. The company’s independent directors include Jack Selby, Steve Papa, Allen Salmasi, and Rob Theis. Sponsor and advisor, Nikhil Kalghatgi, leads the company’s advisory board.