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Zero Waste Scotland Showcases Circular Economy Stars at Resource

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Zero Waste Scotland Showcases Circular Economy Stars at Resource

Zero Waste Scotland Showcases Circular Economy Stars at Resource
March 03
16:45 2015

Successful Scottish companies which are spearheading the development of the circular economy will be showcased at Resource, a major event in London this week, from today until 5th March.

Zero Waste Scotland, Scotland’s resource efficiency body, is highlighting the example of East Kilbride-based firm Re-tek as part of the launch of its Circular Economy Business Models Programme.

A circular economy is one in which materials are kept in use for longer, and where businesses rely less on exploiting raw materials to make new products.

Based in East Kilbride, Re-tek  repairs and refurbishes used IT products before selling them on to new owners and sharing the revenue with the previous owner. Products include laptops, PCs, flat screen monitors and hand-held electronics.

Operating on an ‘incentivised return’ business model – offering a financial benefit for the return of previously used products which can then be refurbished and resold, Re-tek has grown in recent years, from handling 50,000 units in 2011 to over 100,000 last year.

Co-founder Kevin Culligan (pictured), said: ‘Zero Waste Scotland is helping us to develop our circular economy business model which mitigates the carbon footprint.

‘After calculating the residual value in items and taking away our operating costs, we can offer customers a rebate and this really helps us stand out.

Iain Gulland, Chief Executive, Zero Waste Scotland added: ‘Moving to more circular practices is going to be essential for our economy in future.

Cutting edge companies like Re-tek are a great example of how circular economy businesses can be both successful and profitable.’

Visit Zero Waste Scotland’s case studies and videos at www.zerowastescotland.org.uk/content/circular-economy-business-models

 

 

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