This is one way for us to make sure our use of certified post-consumer recycled materials and other environmentally conscious objectives are built into the DNA of Nomadix for the long term.
SAN CLEMENTE, Calif. (PRWEB) January 09, 2020
Nomadix, SPC (formerly Nomadix, LLC) is pleased to announce that it has transitioned to a Social Purpose Corporation under the jurisdiction of the state of Washington. Its operations center will be located in San Clemente, California, and the company's operations will continue as usual. This corporate structural change will protect the company’s triple bottom line approach, making decisions that factor in the benefit of the environment, its employees and customers, in addition to its financial profits.
Social Purpose Corporations can pursue social and financial goals, and have the agency to put those social goals ahead of maximizing profit “in a manner intended to promote positive short-term or long-term effects of, or minimize adverse short-term or long-term effects of, the corporation’s activities upon any or all of (1) the corporation’s employees, suppliers or customers; (2) the local, state, national or world community; or (3) the environment.”
Nomadix co-founder and CEO Zack Helminiak said, “A Social Purpose Corporation acts as a hybrid of a for-profit corporation, which has a duty to maximize financial profits for shareholders, and a non-profit organization, which is prohibited from distributing profits and may have 501(c)(3) tax exempt status. Nomadix runs as a for-profit business, but not at the expense of the environment. This is one way for us to make sure our use of certified post-consumer recycled materials and other environmentally conscious objectives are built into the DNA of Nomadix for the long term.”
Nomadix co-founder and COO Chace Petersen said, "Changing corporate structures might seem trivial, but as a fast-growing company, it was important for us to build a business that will stand the test of time. We hold the company and its manufacturing process responsible to its employees, customers, shareholders, and the environment. Building a corporate structure on that foundation is the ethical path to take, and we are excited to build on this for the future."
Nomadix co-founder and President Hunter Robinson said, “We know this approach to building a business will become the norm in the future and will lead to better prosperity for all shareholders and communities. Considering overall business impact on all levels will lead to a stronger and healthier company and ecosystem in which to operate.”
The Nomadix SPC Social Purpose Annual Report can be found on its website.
Nomadix is a travel, outdoor and active lifestyle company that makes versatile, high-performance products that serve maximum utility, with minimum impact on the environment. Every Nomadix product is made with certified post-consumer recycled material according to the Global Recycle Standard. Nomadix launched “The Only Towel You Need” in 2015, and while it is still the number one selling product, it now produces ultralight towels, festival blankets, and ponchos. As a Washington State Social Purpose Corporation, Nomadix works on a triple bottom line, making decisions that factor in the benefit of the environment, its employees and customers, and financial profits.