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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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