Former GGA winner Riversimple has launched Circular Revolution – a Circular Economy Innovation Centre for Wales.
Designed and delivered in partnership with Swansea University and the University of Exeter, the Circular Revolution is the first business-led hub in the UK focussed on circular thinking. The £2.3m operation is part-funded by the European Regional Development Fund through the Welsh Government, which is contributing over £1.5m.
The Circular Revolution will be run from a dedicated centre in Riversimple’s HQ in Llandrindod Wells, and will deliver two programmes of activity.
The first is an outreach programme for business in West Wales and the Valleys who are keen to engage with more sustainable products, services and business models. Swansea University and the University of Exeter will be supporting companies in discovering the latest practices and exploring how to embed circular principles into their business.
The second programme of activity is pioneering research and innovation aimed at tackling the specific challenges businesses face in adopting a sale of service circular model. Six pilot projects will focus on developing procurement, computation systems, and legal frameworks.
Riversimple director, Fiona Spowers said: “It is a privilege to be afforded this opportunity to host the centre and drive circular thinking forward globally from Wales. While there is a lot of enthusiasm for the concept of circular business models, they are hard to adopt and embrace fully. With Circular Revolution’s pilot programme, we are uniquely positioned to trial, test and refine this research on a real small business in Wales, Riversimple.”
Lesley Griffiths, the Minister for Environment, Energy and Rural Affairs, commented: “As we move Wales towards becoming a net-zero nation, and we progress our transition towards a Circular Economy, it is vital that we do all we can to encourage businesses of all sizes in Wales to adopt more sustainable business models and services. Everyone has a part to play in making Wales a fairer and more sustainable nation, and businesses are no exception.”
Riversimple was a runner up in the Clean and Green category in the National CSR Awards 2016, the forerunner of the Global Good Awards, for its development of a hydrogen electric car. See more here.