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Renewi plc (RWI)
Renewi plc: Delivering on Renewi's organic growth commitments -
Opening of hard plastics sorting facility Acht
02-Apr-2024
2
April 2024
Delivering on Renewi's
organic growth commitments
Opening of hard plastics
sorting facility Acht
Renewi plc ("Renewi", the "Company"
or, together with its subsidiaries, the "Group") (LSE: RWI.L:
Euronext Amsterdam: RWI.AS), a leading European waste-to-product
company, announces the recent opening of its hard plastics sorting
facility in Acht, The Netherlands. With this strategic investment,
first announced during its Capital Markets Day ("CMD") in October
2023, Renewi is delivering on its sustainable organic growth
objectives.
Hard plastics are used in a wide
variety of products, including children's toys, garden furniture,
electronics, household appliances, cars and containers. The newly
opened facility will allow the Company to recycle not only
separately collected plastics, such as a hard plastic mix from
recycling centres, but also more contaminated material from
construction and demolition waste. The installation categorises
plastics into as many as 18 distinct product streams, with
polypropylene and polyethylene being the primary streams. By
implementing advanced technology and incorporating sorting and
cleaning processes, the purity rate for both types of plastic is a
minimum of 95%. This advancement expands the range of high-quality
products that can be manufactured using recycled
materials.
Ongoing commitment to innovation in
recycling
With the opening of its new
facility, Renewi advances its recycling efforts, solidifying its
position as a leader in the sector and reducing reliance on
traditional waste disposal methods. The Acht facility showcases
Renewi's innovative approach towards future recycling processes and
will help increase the Company's recycling rate further. Renewi
aims to expand partnerships with industry leaders and stakeholders,
reaffirming its commitment to sustainability and helping leading
the charge towards a waste-free future.
In FY23, Renewi recycled 7 million
tons of the total incoming waste, generating a recycling rate of
63.4%. By leveraging state-of-the-art technology, Renewi continues
to enhance its recycling capabilities, producing more and more
low-carbon secondary materials. Through ongoing innovation and
investment in research and development, Renewi seeks to refine its
processes and explore new recycling avenues to meet the growing
demands of the circular economy.
In FY22 the Company, announced it
would invest over €100m over the subsequent 3 years leading to a
€20m EBIT improvement. This plan encompassed projects such as
optimising residual waste sorting, advancements in household
appliance recycling and production of biofuels like bio-LNG and
green gas from food waste, showcasing promising advancements and
reaffirming Renewi's commitment to delivering on its promises. The
Acht plastics sorting facility is expected to contribute to
achieving Renewi's EBIT and topline growth targets as well as help
make progress towards a more sustainable future. Looking forward,
Renewi remains committed to investing in high-return projects to
drive growth and margin improvement.
About Renewi plc
Renewi is a pure-play recycling
company with a focus on extracting value from waste and used
materials rather than disposal through incineration or landfill.
The company also plays a key role in limiting resource scarcity
through the creation of secondary materials, and by so doing
addresses both social and regulatory trends and contributes to
creating a cleaner, greener world.
Renewi's vision is to be the leading
waste-to-product company in the world's most advanced circular
economies. With an industry leading recycling rate of 64%, Renewi
puts 7m tonnes of low carbon secondary materials back into reuse.
This is a significant contribution to climate change mitigation and
the circular economy. Our recycling protects virgin resources and
avoids emissions of more than 2.5 million tonnes of CO2.
Renewi, which draws on innovation
and the latest technology to turn waste into useful materials -
paper, metals, plastics, glass, wood, building materials, compost
and water - employs over 6,500 people who work on 154 operating
sites in 5 countries across Europe and the UK. Renewi is recognised
as a market leader in Benelux and a European leader in advanced
recycling.
Visit our website for more
information: https://www.renewi.com.
Dissemination of a Regulatory Announcement, transmitted by EQS
Group.
The issuer is solely responsible for the content of this
announcement.
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