Gjenkraft converts composite waste from wind turbine blades into new renewable raw materials such as glass and carbon fibre.
Our new product is called
Sustainable production and consumption is one of the UN's sustainability goals. Circular economy is a central part of this and crucial for achieving the goals in the Paris Agreement, where the 1.5 ° C goal requires society to be circular.
The EU's Circular Economy Action Plan points out that an ambitious implementation of circular economy principles has the potential to increase EU GDP by 0.5% by 2030. Circular economy will also have a positive effect on the Norwegian economy and employment.
Our company strives to play an important role in this green shift. To succeed with our sustainability goals, we ensure that we create an attractive market for circular products. To increase the degree of innovation, Gjenkraft AS will have several strategic letters of intent with national and international partners. We work to map information about materials, energy use and emissions in order to make better use of our resources.
Circular economy is a way of creating value and prosperity, by using resources more productively. A circular economy aims to create more value by using less resources at the societal level. This is in line with Gjenkraft's main principles. In our circular sustainable business models, where resources are conserved in the cycle, new materials are created from by-products and waste, and by reducing wastage in production. With this, Gjenkraft AS creates value across sectors and through increased synergy between players.
SERVICES & BUSINESS MODEL
The company will provide composite waste recycling services and sales of the recovered raw materials from the recycling process. Our recycling technology is based on a variation of the pyrolysis process which enables us to recover glass and carbon fibres, synthetic fuels and carbon from the waste. The target market is the wind industry, mainly wind turbines blades, and other industries, i.e. boats, automotive, aviation, and construction. The innovative process of thermal treatment of composite waste designed by us is the answer to the market demand for sustainable waste treatment services. Our target customers are companies that adapt their waste management policy to EU and EEA regulations and circular economy policy. Thanks to our comprehensive approach we can secure added value for both upstream and downstream customers.
Our innovation is the ability to turn waste into valuable materials for reuse in production and for the production of synthetic fuels. Current methods neglect this element and focus on simple waste disposal. Moreover, our solution enables material traceability through the entire value chain, even at the end of product lifespan, which cannot be achieved with current methods. Additionally, our process is green due to the use of renewable energy and is emission-free.
Our idea is scalable both by expanding the production line, opening new plants and installing a process line in existing plants. Each subsequent production line will be cheaper than the previous one due to the standardization of the solution. Cost optimization is also influenced by our share of the waste market. The higher our share is, especially in the ramp-up phase, the lower the operating costs will be.
The market for composite waste is vast and is growing from year to year. It is estimated that 76,000 tons of composite waste will be produced in Europe in 2021. This figure will double every 5-6 years to about 700,000 tons in 2050. We intend to acquire about 20-25% of this market.