circular economy
Measures such as waste prevention, eco design and reuse could save EU companies €600 billion - equivalent to 8% of annual turnover - while reducing total annual greenhouse gas emissions by 2-4%.
Moving towards a more circular economy could deliver benefits such as reducing pressure on the environment, improving the security of the supply of raw materials, increasing competitiveness, stimulating innovation, boosting economic growth, and creating jobs (580,000 in the EU alone).
Consumers will also be provided with more durable, innovative products, increasing quality and allowing them to save money in the long-term. The circular economy is a model of production and consumption which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products for as long as possible. In this way, the life cycle of products is extended and, in practice, waste is reduced to a minimum. When a product reaches the end of its life, its materials are kept within the economy wherever possible. These can be productively used again and again, thereby creating further value.
This is a departure from the traditional, linear economic model, which is based on a take-make-consume-throw away pattern. This model relies on large quantities of cheap, easily accessible materials and energy.
Battery Market
The battery market, driven by the automotive sector, continues to grow exponentially - as evidenced by the 250+ gigafactories existing currently, or in planning, and with US$65bn of committed funding to battery manufacturing worldwide.
Lithium-ion batteries are a core platform technology for the 21st century. The global lithium-ion battery recycling market is expected to grow from $2 billion in 2021 to $6.55 billion in 2028 at a CAGR of 18.5%.
It is no secret that the battery supply chain is undercapitalised, and that future bottlenecks are likely with the mass rollout of electric vehicles.
For this, and other related reasons, it is vital that battery recycling capabilities are promoted, as doing so could ameliorate this bottleneck through the re-processing and reuse of existing, readily accessible materials.
Battery Recycling
The battery recycling market is growing at an accelerated rate.
It is driven by automotive and industrial sectors transitioning to more environmentally friendly and sustainable electric solutions, through government pressure and user demand.
There is currently no major UK capability to recycle lithium-ion batteries, providing a unique opportunity for Recyclus to establish itself as a pioneer in this field.
Investing For Growth
We are focusing on scaling developed technology that mechanises currently labour-intensive programmes. Key management and technical know-how was secured as part of our IPO and previous fundraising rounds.
“A more circular economy will see us keeping resources in use as long as possible, so we extract maximum value from them. We should recover and regenerate products and materials whenever we can, giving them a new lease of life.”
Resources and Waste Strategy for England, 2019
We have the Experience
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