Benzinga | Jun 24, 2021 11:11AM EDT

XL Fleet Partners With Rubicon For Fleet Electrification In Waste And Recycling Industry

* Vehicle electrification solutions provider XL Fleet Corp (NYSE:XL) announced an agreement with Rubicon, a software platform that provides smart waste and recycling solutions for businesses and governments.

* The agreement will bring XL Fleet's offerings for fleet electrification to Rubicon's network of waste and recycling hauler partners.

* It will allow XL Fleet to grow its customer base by jointly approaching Rubicon's expansive partner network with the Electrification-as-a-Service offering.

* XL Fleet aims to provide hybrid electric, plug-in hybrid, and all-electric solutions and deliver charging infrastructure through its XL Grid division to Rubicon's network of more than 7000 vendors and hauler partners across the United States.

* "The market opportunity to help electrify the waste and recycling industry is significant as fleets look to meet their sustainability goals, and this collaboration expands and advances our existing efforts to capitalize on this growing opportunity," said Tod Hynes, Founder and President at XL Fleet.

* Price action: XL shares are trading higher by 5.95% at $8.90 on the last check Thursday.