Zero Waste Scotland Unveils New Business Models Programme
Zero Waste Scotland has unveiled its new circular economy business models programme – a group of companies in Scotland successfully using innovative new practices with less reliance on raw materials. The launch highlighted the activies of Re-tek, a firm based in East Kilbride.
Re-tek repairs and refurbishes functional used IT products to be sold onto new owners, while sharing the revenue with the previous owner. They work with a wide range of electronic products including laptops, PCs, flat screen monitors and hand held electronics. The company employs 32 people and in 2014 had a turnover of £3.3 million.
The major innovation from Re-tek is a business model where they financially incentivise the return of used electronic products knowing that even after operating cost, they can still achieve a profitable margin. The size of the business has doubled in the last four years growing from handling 50,000 units in 2011, to over 100,000 in 2014. The success of the business is further evidence that there is profitability in switching to a circular economy model based on the re-use, refurbishing and remanufacturing of products.
Read more about the circular economy business models programme and Re-tek at CIWM.