Published on July 20th, 2011 | by Beth Buczynski3
New Technology Turns Bike Rides Into Cash
A revolutionary software is poised to help bike-sharing programs become more economically viable in a time when many municipalities lack the funds to maintain them.
Carbon-belching vehicles create around 25 percent of the air pollution in our society today. We use these fossil fuel burning machines to transport ourselves and our belongings across town and across the country, all the while adding toxins to the very air we breathe. This process has helped to accelerate climate change and its negative effects on our oceans, wildlife and agricultural systems.
Bike sharing has emerged as a viable alternative transportation system that’s much kinder to the planet, especially for those in densely populated big cities. But getting your cash-strapped local government to spring for the infrastructure and maintenance of a bike-sharing program can be difficult. Unless you’ve got a compelling way to make money with it.
CityRyde, the leading bike-sharing innovator, announced today that the carbon methodology behind its revolutionary Inspire software has been validated under the Verified Carbon Standard (VCS), bringing to fruition the two-year development of a system that will energize bicycle sharing the world over.
With Inspire, bike-sharing programs can track, certify and monetize carbon offset credits gained through the use of their shared bicycles. The software turns bike rides into cash through the creation and sale of those credits, creating additional income for new bike sharing programs.
“This is a game changer – the entire bike-sharing industry is poised to take a major leap forward with the first validation of the Inspire methodology,” said Jason Meinzer, COO and co-founder of CityRyde. “Inspire brings a crucial new revenue stream to this budding industry, and we look forward to applying it to sustainable transportation projects of all kinds down the road.”
$345,000 in strategic “smart money” from some top-notch investors will help Inspire achieve this goal.
What do you think? Should bike share programs be able to profit from the carbon emissions they help replace?