Boost for re-use of materials
Circular economy backed to produce ideas and investment
Angus 3D technology is being supported by the initiative
Support for creating a circular economy, in which goods are re-used to reduce waste, will help create new ideas and attract investors to Scotland, it has been claimed.
Three projects are among the latest to receive £700,000 in Scottish government funding, announced by First Minister Nicola Sturgeon at a circular economy event, running over two days this week at the Glasgow SEC.
The predicted economic benefits exceed £1 billion.
A report sets out the economic opportunities in a number of regions and proposals to maximise the circular opportunities in Edinburgh’s huge festivals and hospitality market.
Local chambers of commerce are engaging businesses and helping them realise the opportunities.
The Circular Economy Investment Fund is administered by Zero Waste Scotland and supported by the European Regional Development Fund.
The three businesses receiving the latest support are:
- Total Homes, £312,385: a three-sector partnership delivering house clearances for Housing Associations in Glasgow, ensuring that household appliances, furniture and other goods are re-used.
- Revive Eco, £234,358: based in Glasgow, they collect used coffee grounds and recycle them to create high value bio-oils, which have a wide range of valuable applications including cosmetics, pharmaceuticals and food and drink. The business is built upon partnerships with large coffee chains and small independent coffee stores and garden centres.
- Angus 3D, £175,000: this grant enables the Tayside start-up to bring latest metal 3D printing technology to Scotland. This will reduce waste in the design process and extend the lifespan of machinery by allowing obsolete parts to be manufactured from 3D scans.
Ms Sturgeon said: “These reports show the exciting potential of a circular economy where reducing waste and investing in keeping materials in circulation for as long as possible can release an estimated £1 billion of economic opportunities for Tayside, Aberdeen and Aberdeenshire. This demonstrates the overall scale of the opportunity for Scotland.
“It’s great to see projects like Total Homes, Revive Eco and Angus 3D embracing our circular economy and getting maximum value from resources.
“This £700,000 investment will help these businesses re-use and repurpose products which will benefit communities by creating jobs and reducing emissions.
“Scotland is already leading the way with its ambitious and challenging targets for recycling which are above and beyond the EU targets. However, we want the narrative to move beyond recycling to re-use, repair and remanufacturing of items. In this light, we are currently considering next steps for introducing a deposit return scheme which will help us achieve our ambitions.”
Iain Gulland, chief executive, Zero Waste Scotland, said: “It’s fantastic to be able to profile the work that’s being done in Scotland to kickstart the circular economy to a global audience.
“Businesses like Revive Eco, Angus 3D and Total Homes are already doing great things, and I hope this event will be an impetus for even more ambition.
“Our Circular Economy Investment Fund is helping to bring exciting new ideas to market and we are seeing ever greater interest from private backers, who recognise that the future is circular.
“The challenges in building a circular economy are big but they are only matched by the potential benefits to businesses, which could be up to £1 billion in Aberdeen and Aberdeenshire and Tayside alone.”