The European Investment Bank has signed a loan agreement of up to €30.75 million with Renewcell. The Sweden-based fashion innovator has devised a way to turn discarded clothing into Circulose®, a pulp from which new fabric can be made. After proving their concept, Renewcell will use the loan to build their first full commercial-scale recycling plant, able to produce 60 000 tonnes per year.
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Accelerating the transition to the circular economy - Improving access to finance for circular economy projects
The transition to a circular economy is at an early stage in the EU.
Regulations, markets and investment tools, including financial risk assessment, are adapted to linear models. Generally speaking, externalities linked to linear business models are not taken into account. This poses a problem for emerging circular models, which have to contend with the challenge of accessing finance, as the financial sector sees circular projects as highly risky.
To improve the conditions for financing CE projects, the Expert Group on Circular Economy Financing identified the main areas where incentives are needed, addressing recommendations to policy makers, financial institutions and project promoters.
The Loop Company has discovered the opportunities offered by the circular economy and launched three initiatives - Book in Loop, BabyLoop and UniLoop - that bring circularity to everyday life.
The Circular Consumption Charter is the result of a partnership between Eni and 18 Italian consumer associations. It was launched on 17 June at a conference involving consumer associations, representatives of public institutions, the scientific world and the certification sector. EESC Vice-President Cillian Lohan participated in the event.
From 28 June to 9 July, join the European Commission's experts online for the Horizon Europe Info Days. This 10-day event will enable prospective applicants and other EU research and innovation stakeholders to get information and ask questions about the new features, main funding instruments and processes of Horizon Europe.
Schijvens has been producing corporate uniforms for more than 150 years now. In 2017, they began collecting customers' old clothing, shredding it and mixing the textile fibres with shredded PET-polyester ones from sportswear, fishing nets and bottles. This led to 100% recycled yarn, which is used to make new fabrics and ultimately new uniforms.
Groningen Seaports is the economic operator, developer and port authority for the port of Delfzijl, Eemshaven and adjoining industrial sites. Groningen Seaports is at the forefront of the circular economy with an innovative circular cluster and ongoing sustainable investments. They facilitate mechanical and chemical recycling and specialise in recycling plastics.
Interseroh provides recycling solutions for plastic packaging. For instance, it has developed a pooling system of reusable plastic boxes for fruit and vegetables sold at Aldi Süd, a German supermarket network.
Forall Phones is a chain of stores, launched in Portugal, which focuses on refurbishing and reselling technological items.
For the past 16 years, Ecodair has been refurbishing professional computer equipment for resale (with warranty) at low cost.
Red Orka is a circular babywear brand that aims to do better for people and the planet. Red Orka's product is delivered to people's homes on the basis of a subscription for a fixed amount each month. The baby rompers are made from 100% organic cotton and produced in the most sustainable way possible.
LENA is the first online and offline fashion library in the Netherlands. It has a system for borrowing clothes and provides an extended wardrobe for every occasion. Their aim is to speed up the fashion industry's transition towards a circular system.
Back in 1931, EMMA was founded as a social enterprise for injured workers from the Dutch State Mines. Hence, social entrepreneurship is in the DNA of EMMA Safety Footwear. Today, EMMA still employs about 100 people who need some additional support in the labour market. Making sustainable safety shoes was, therefore, a logical next step in EMMA’s journey towards a positive footprint.
Biorizon has been co-creating technologies for the production of bio-aromatics at the Green Chemistry Campus in Bergen op Zoom since 2013. Together with industrial partners, Biorizon creates and develops innovative chemical processes for the production of renewable aromatics from residual biomass. Their aim is to enable commercial production of bio-aromatic building blocks by 2025.
SNEW has developed a circular system reusing the raw materials in existing equipment. It aims to give business telecoms and IT equipment a second life. Companies which hand over their old ICT equipment get either maintenance for their current equipment or money for the old equipment.
Arapaha is a design company which develops and manufactures sustainable, circular household and sports items and clothing. It focuses on circular processes and uses biobased composites. Goods purchased in their webshop can be returned when no longer needed so that the components can be reused.
The Catalogue of Best Practices in Circular Economy identifies good practices carried out in Spain which are transferable and scalable by other stakeholders.
Grover rents technological items such as smartphones, laptops, virtual reality (VR) gear and wearables to customers on a flexible basis and with full usage rights. Customers can choose how long they want to rent a given product.
Circular Threads is the first sector study carried out to measure the level of circularity of the textile industry in Italy. In order to promote the transition towards the Circular Economy in the textile industry, Tondo - in collaboration with Fondazione Pistoletto, Associazione Tessile e Salute and Ren - has conducted research that aims to measure the level of sustainability and circularity on a sector and company scale.