GreenWEEE International, a market leader in the industry of electrical and electronic waste recycling, announces plans for the third recycling plant.
The company, founded in 2009 and with two facilities in Romania (Buzau and Campia Turzii), member of Green Group recycling park, continues its growth strategy with a 10 million EUR investment from private funds for building a new industrial facility and purchasing new state-of-the-art recycling technology.
The construction of the new plant will begin early next year in Buzau, on the Frasinu Industrial platform and is set to open in the fourth quarter of 2022. At the end of the project, the number of GreenWEEE employees in Romania will exceed 325 and the recycling capacity will increase by 30%, adding up the operations of the other two existing facilities.
The project, following to be financed by OTP Bank Romania as part of an existing syndicated loan, is the latest in a series of significant strategic investments, as part of GreenWEEE’s commitment to stimulate a sustainable economic model, in line with EU aspirations, thus facing the shift to a circular economy and tackling climate change.
“Since 2009 we have been committed to paving the way of a strong national circular economy by recycling waste electrical and electronic equipment and introducing on the market secondary raw materials for so many industries. This new plant is in line with the Group’s strategic plan of continuous growth of the business through investments in a greener future, through the acquisition of new and innovative technologies, while playing an important part in the GHG emission reduction and keeping the materials in use “, said Marius Costache, General Manager of GreenWEEE.
“In the European Union, Circular Economy is connected to 300-380 billion Euros of GDP, while in Romania there is a substantial need to move in this direction. The benefits of the transition to a circular development model are linked to economic growth, employment, investment, all of these creating long-term sustainable growth. In this context, we appreciate Green WEEE’s efforts to stimulate a sustainable economic model, in line with EU aspirations, and remain a reliable financial partner in supporting a strong business with a major impact on the society in which we live,” said Gyula Fatér , General Manager of OTP Bank Romania.
Using the latest recycling installations, from the e-waste collected (refrigerators and air conditioning equipment, small and large household appliances, electrical tools or computer and telecommunications equipment etc.) GreeWEEE obtains high purity fractions, assimilated in the economy as secondary raw materials, so necessary in the current economic context.
The electric and electronic waste is collected from the local market, from economic operators authorized to take over the responsibility of the producer, retailers of electronics and appliances, sanitation companies, collectors, as well as through contracts with large producers.
“Innovation in the production of electrical and electronic equipment it drive us to increase the level of performance for the quality of our recycling services, which is why our treatment lines are aligned with international standards BATRRT (Best Available Techniques of Recovery, Recycling and Treatment).
Furthermore, beside the significant economic benefits, the recycling industry has a key role to play in protecting the environment. E-waste contains valuable materials that have an economic value when recycled, but also toxic substances. After they are recycled, the pollutants are removed in a controlled environment and more than 98% is recovered from the recycled waste”, continued Marius Costache.
GreenWEEE provides treatment operations at the highest standards and is the only unit in Romania and one of the few in Europe operating under WEEEBALEX license, for five workflows.
WEEELABEX is a landmark European certification that sets standards and closely monitors the processing and disposal of WEEE. WEEELABEX certification ensures that all waste electrical and electronic equipment arriving in GreenWEEE is processed in accordance with legal requirements.