According to research by Atlanta-based startup, GreenPrint, currently 89% of people recycle, 97% of drivers would use carbon neutral gasoline, and 80% of people would be willing to pay more for it. In order to capitalize on this growing trend, GreenPrint has created ZERO – the first reduced emissions fuel solution. Their strategic focus on a monumental social issue recently attracted local investment.
The company closed a $1M Series A round in just two months, doubling their initial ask. We chatted with one of the company’s co-founders, Peter Davis, and local investor David Cummings, to learn more about their rapid growth and recent investment.
Founded by Peter Davis (CEO) and Trenton Spindler, GreenPrint launched in 2014 and has built a list of retail petroleum and fleet clients, representing more than 1,300 retail locations and 50,000 fleet vehicles, including select gas stations in the Atlanta area. Through these relationships, the company is on track to have reduced the monthly tailpipe emissions of over 1.2 million U.S. drivers in 2015, equating to the elimination of more than 500,000,000 pounds of CO2e emissions.
“We provide collateral to market ZERO at the pump, on premises, and online. Then, for every gallon of ZERO gasoline you sell, we invest proportionality in a certified carbon offset project neutralizing the carbon emissions that will be emitted as your customers drive,” according to the GreenPrint website. “In fact, with a goal of having a positive impact vs. simply a neutral one, we invest in more carbon offsets than will be emitted.”
GreenPrint offers a marketing/tech solution to the pollution caused by burning of fossil fuels. While electric vehicles and alternative fuels have grown in popularity in recent years, “traditional fuel is still a massive market. Last month, the Ford F150 was the highest selling vehicle in the country,” explains Davis. “When people choose mid-grade fuel with ZERO, we plant trees in partnership with Trees Atlanta as well as participate in solar, wind, and hydro-electric projects to neutralize your vehicle emissions. Moreover, consumers can visit zerofuel.com to see their impact.” This creates a unique selling point to customers of a highly commoditized product. “We’re the only folks doing what we’re doing and we expect to be profitable by Q4,” continues Davis.
Davis’ history of success in the loyalty and affinity marketing space (including Citibank, American Airlines, United Airlines) and leadership abilities attracted the investment of David Cummings and Michael Berkman. “Few businesses achieve this much traction so quickly,” states Cummings. “Rarely do you find a company with the potential to become both a very large and profitable business and at the same time have such a positive impact on society. GreenPrint is proving that philanthropy can successfully fit into the normal flow of commerce.”
This is the first time that Cummings has funded something fuel and green focused. He has a history of creating and investing in marketing and SaaS companies, so it’s no surprise that he would invest in a marketing driven loyalty company. “[GreenPrint] is the combination of a great business idea and talent. This is something unique to the market and attracts a large amount of consumers,” he continues.
Great to see an Atlanta company finding local investment and substantial growth. We’ll continue to update you as they grow.