The move is part of a bid to encourage new circular economy business models.
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Funding
Innovate UK’s Circular Economy for SMEs competition has provided funding to the group, in collaboration with the NICER programme, a four-year £30m investment from UKRI.
Cleveland Steel and Tubes is one of the largest stockholders of repurposed steel tubes in Europe.
Together with ISG and the NFDC, they will conduct a detailed feasibility study focusing on real life case studies. They will track the ‘journey’ of reused steel from start to finish. The project aims to provide a rich data source covering different sizes and types of projects. It will also monitor variability in geographical location across the UK.
Circular business models
The project will deliver new costed circular business models that can act as a blueprint for other companies interested in entering the reuse sector. The ultimate aim is to achieve a greater supply of reused steel into the marketplace.
Although commonly recycled at end of life, the reuse of steel is minimal despite the environmental, carbon and circular economy benefits.
Previous studies have shown that there are barriers to reuse including economic factors, supply chain issues, availability, and lack of demand. The Alliance for Sustainable Building Products said new business models are required to ensure that the benefits of steel reuse are accrued across the value chain and underpin the activities of existing and new actors.
