Environmental consultancy firm Reconomy has launched an initial investment of £1m into CircuLab, a sustainability research innovation hub in Bucharest, Romania, to advance its work in the circular economy.
CircuLab will serve as an innovation hub for the company’s research into sustainability, environmental science, resource management and chemistry. It will focus on the development of new use cases, propositions and ways of working based on the sharing of best practise, leveraging data analytics, exploration of new technologies and regulatory foresight.
Reconomy said the function will build specialist and unique capabilities in circularity, strengthen its leading role in the circular economy and leave it better positioned to help customers reduce waste, conserve resources, close circularity gaps and unlock material cost savings.
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Guy Wakeley, chief executive of Reconomy, commented: “We are excited by the launch of this function, the first of its kind in our sector, which will transform our ability to advance the circular economy for our customers and our own business.
“With the global economy consuming natural resources faster than the planet can regenerate them and businesses facing significant market volatility, this couldn’t come at a more important time. Not only will this help our customers lower their carbon footprint, identify material cost savings and improve profitability, but it also supports our mission to create a waste-free world and shift the Earth Overshoot Day – the point when humanity’s resource use exceeds the Earth’s annual capacity – to later in the year.”
