Renewi PLC Renewi’s organic growth commitments

RNS Number : 9209I

Renewi PLC

02 April 2024

 

Renewi plc (RWI) Renewi plc: Delivering on Renewi's organic growth commitments - Opening of hard plastics sorting facility Acht 02-Apr-2024 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 [phone] [e-mail] Alex Le May / Richard Mountain     Renewi plc Anne Metz, Director of Investor Relations [phone] [e-mail]     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: https://www.renewi.com.     Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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

 

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