REG-Renewi plc Renewi plc: Delivering on Renewi’s organic growth commitments - Opening of hard plastics sorting facility Acht

RenewiAnnouncement

02/04/2024 07:15

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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 / 07:00 GMT/BST

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   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.

    

   For further information:        
                                   

                                   

   FTI Consulting                 Renewi plc

   +44 203 727 1340               Anne Metz, Director of Investor Relations

    1 FTI_RWI@FTIconsulting.com   +31 6 4167 9233

   Alex Le May / Richard Mountain  2 investor.relations@renewi.com
                                   

    

    

   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:  3 www.renewi.com.

    

    

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:          GB00BNR4T868
   Category Code: MSCM
   TIDM:          RWI
   LEI Code:      213800CNEIDZBL17KU22
   Sequence No.:  312909
   EQS News ID:   1870937


    
   End of Announcement EQS News Service

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References

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   1. mailto:FTI_RWI@fticonsulting.com
   2. mailto:investor.relations@renewi.com
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