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In our newsletter last autumn we described the circular economy and its various business models, which are extending the product life-cycle, product as a service, sharing platforms, renewability and resource efficiency and recycling. We also explained resource efficiency and recycling in more detail (read the article here). This time we are focussing on renewability.
In the circular economy, companies minimise the use of virgin materials as much as possible. The product design and manufacturing processes replace non-renewable raw materials with renewable, recyclable and biodegradable materials. What is essential is the purity of the materials so that they are easier to recycle and reuse. The choice of materials is an important part of the product design.
The manufacturing and production processes also preferably use renewable energy instead of fossil fuels. The model is especially suitable for companies that use raw materials with limited availability, the prices of which are high or that have large ecological footprints.
One example of such a project is Watrec, supported by Finnpartnership, which designs and implements biogas plants. The solution developed by the company allows renewable energy to be produced from organic waste and waste waters in a cost-effective manner. Watrec has made progress in the Vietnamese market, and the company says that “thanks to the support of Finnpartnership, Watrec has been able to carry out considerably more comprehensive market research, to identify partners more quickly and to explore more than one target country at the same time.”
Read more about the project here.
Second from the left, Watrec’s representative Kimmo Tuppurainen; in the middle, Watrec’s cooperation partner, the CEO of WE Viet Co., Chau Phuoc Minh. On his right, the Ambassador of Finland to Vietnam, Kari Kahiluoto. Picture: Watrec