PRESS RELEASE

Towards a Circular Economy

New report details promising and innovative zero waste technologies and initiatives that are fueling a more circular economy

10 February 2020

Chicago, IL: PreScouter, a Chicago-based research intelligence company has released a detailed report on zero-waste technologies and initiatives that are fueling a more circular economy. In North America, current recycling infrastructure doesn’t recover more than 10% of post-consumer plastics, and today’s supply of recycled plastics meets just 6% of real demand. Closed Loop Partners estimates the addressable market in Canada and the U.S. for plastics and petrochemicals to be $120B, which could be met, in part, by recovering waste plastics. This is where PreScouter sees the significance of this report by presenting innovative technologies in place.

“Today we face several challenges when it comes to use of materials, plastic in particular. The two main ones being creating waste, especially after a very short use of the material, and using non-renewable resources to make the materials we need,” says Dr. Marija Jovic, co-author and PreScouter Technical Director for the Chemicals, Materials & Packaging industry. Replacing liner with circular economy could address these issues by reusing, recycling and using sustainably sourced materials. Adopting circular-economy principles could not only have environmental and social benefits but could also generate a significant economic benefit, adds Dr. Jovic.

The report details 10 companies that fall under one of the two main circular economy categories: recycling and reusing. Most of the profiled technologies and initiatives cover plastic waste, but a few examples do delve into other types of waste such as garments and mobile phones.

Dr. Marta Carvalho, researcher and co-author of the report, believes“By creating a circular economy, we can generate products that can be reused, minimizing the loss of their value and optimizing the use of resources. However, this is not so simple. We need to redesign our business models and develop new materials and disruptive production processes. We all need to take part; Customers need to change their way of buying products, rethinking their consumption patterns. Governments need to adopt legislatives and policy tools for promoting the circular economy model.” The shift from a linear to a circular economy will not be easy, however we need this circular economy revolution to prosper and sustain our environment, creating a positive ecological, economic and social impact concludes Dr. Carvalho.

About PreScouter, Inc.: PreScouter provides research support services to help business leaders make better R&D, product development and corporate development decisions. PreScouter’s custom-selected teams of Advanced Degree Researchers and Subject Matter Experts connect business leaders with new markets, commercializable technologies, industry-impacting startups, and other actionable data. PreScouter’s growing list of 500+ clients includes GE Healthcare, Coca Cola, BAE Systems, Whirlpool, and Volvo.