Increased sustainability and competitiveness with circular economy in the Nordic industry – Konecranes first Finnish company to join CIRCit
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.
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 or recycling materials. In this way, 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.
Circular economy means finding business opportunities for existing and new companies for enhanced value creation.
The goal of CIRCit project 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.
A number of companies from the Nordic countries are already making headway in a circular economy, and more companies are invited to jump on the circular economy journey. They will be well-equipped for a future in which value creation will be decoupled from the consumption of finite resources, leading to enhanced competitiveness and growth.
The Finnish company Konecranes, a world-leader in material handling technology and lifting equipment serving a broad range of customers, including manufacturing and process industries, shipyards, ports and terminals has been accepted as a tier 1 company in the global CIRCit project.
“We see great potential in developing our operations from a circular economy perspective. Our aim is to inspire the market and our customers by offering innovative, eco-efficient solutions. With the CIRCit project we wish to seize the opportunities with top on the notch universities to help us seek new solutions and business models based on customer needs and future trends. Working together as an industry, we can enable more efficient use of raw materials, increase energy efficiency and increase value through the entire value chain,” says Nathalie Clément, Director, Corporate Responsibility at Konecranes.
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
The tools and approaches that are developed in the CIRCit project will be freely available for the Nordic industry.
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.
Read more: www.circitnord.com