Reconomy reflects on 'a period of excellent progress'

In a half year update, the international circular economy specialist highlighted the completion of four acquisitions, including its first two acquisitions in North America, building on five highly complementary acquisitions in 2023.

Reconomy acquired Lincoln Waste Solutions and Vermilionin the US, as well as German-based metal recovery experts Sudamin Rohstoff, and Circle Waste, a digital-first, UK outsourced waste management provider.

Guy Wakeley, Chief Executive at Reconomy, stated: “While there is growing international recognition of the need to transition to a circular economy, global circularity is still in decline and the global economy remains predominantly linear.

"At this current rate we will continue to deplete resources, damage environments, fail to reduce emissions from waste and lose out on economic growth. This decline is despite consumption continuing to accelerate, and by 2050 the world is expected to produce 3.4 billion tonnes of solid waste annually – a 70 per cent increase from 2018.

“As a result, it is vital that businesses take steps to shift towards circularity.

"At Reconomy, we are united by our vision to create a waste free world and help our customers develop fully circular solutions to harness the inherent value of their resources.

"I am delighted by our excellent strategic progress in the period as we continue to build out a world-class, tech-enabled, people-powered platform to serve our customers and deliver strong growth. We remain very confident about our long-term prospects and are perfectly positioned to take advantage of the significant opportunities ahead of us in the international circular economy.”

Reconomy also continued to invest heavily into strengthening its cloud technology, digital and AI capabilities to drive efficiencies and scalability, underpin new offerings and deliver cutting-edge data-driven solutions to its customers.

Over the next two years the business intends to invest more than £30m across various digitisation programmes.