Increased sustainability and competitiveness with circular economy
31 August, 2017
Swerea IVF has a key role in the newly started CIRCit project, which will guide and support the Nordic industry to the transition towards circular economy and sustainability thinking. The goal is that the Nordic industry will establish itself as a forerunner in the area and at the same time strengthen its position in a highly competitive international market.
Circular Economy is a way of thinking where the main idea is to maximize value creation by utilizing raw material and resources in circular systems, also known as circular models. It can be about expanding the life of a product, by repairing or remanufacturing, or providing the product as a service. A Circular Economy also means finding business opportunities for existing and new companies for enhanced value creation e.g. by taking products back, providing new services, reusing parts and components, recycling materials, etc.
In this way, a Circular Economy can contribute to an increased efficiency in the value chain and more effective use of natural resources and energy, which leads to increased competitiveness, growth and more jobs.
CIRCit focuses on the development of tools and approaches based on the latest science and in close collaboration with companies in order to make it possible for the Nordic industry to:
• Understand the overall potential of the implementation of Circular Economy
• Create new business models – including new offerings and value propositions
• Develop circular products, services and solutions – for enhanced value creation
• Support use and handling of circular products, services and solutions through smart IT-solutions
• Close material flows by re-using, re-manufacturing and recycling
• Ensure that the circular solutions are also more sustainable.
CIRCit – Circular Economy Integration in the Nordic Industry for Enhanced Sustainability and Competitiveness is carried out between 2017-2020 and is part of the Nordic Green Growth Research and Innovation Programme financed by NordForsk, Nordic Energy Research and Nordic Innovation. The project is led by the Technical University of Denmark (DTU) together with Swerea IVF, The Norwegian University of Science and Technology (NTNU), Innovation Center Iceland and Technology Industries of Finland.