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August 17, 2022
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OTP Bank Romania will support GreenWEEE in a 10 million euros project for a new waste recycling plant for electrical and electronic equipment

GreenWEEE International, market leader in waste electrical and electronic equipment (WEEE) recycling, announces new investment plans in a third recycling plant.

The company, present in Buzău since 2009 and in Câmpia Turzii since 2017, member of Green Group, continues its development strategy by building a new production hall and acquiring the most advanced technologies in waste recycling of electrical and electronic equipment, with a investment value of EUR 10 million.

The new plant will be located in Buzau, on the Frasinu industrial platform, and construction will start early next year and is expected to be fully operational in the fourth quarter of 2022. At the end of the project, GreenWEEE will have over 325 employees in Romania, and the total recycling capacity will increase by 30%, adding up the operations of the other two existing factories.

The project is to be financed by OTP Bank Romania within an existing syndicated loan. It is also the latest in a series of significant strategic investments, as part of GreenWEEE’s commitment to boosting a sustainable economic model, in line with EU aspirations, and making the transition to a circular economy with a major impact in combating climate change.

“In the European Union, the Circular Economy is correlated with 300-380 billion euros of GDP, while in Romania there is a discussion about a substantial need to move in this direction. The benefits of transitioning to a circular development model are linked to growth, employment, investment, all of which generate long-term sustainable growth. In this context, we appreciate Green WEEE’s efforts to stimulate a sustainable economic model, in line with EU aspirations, and remain a reliable financial partner in supporting a strong business with a major impact on the society in which we live.”, said Gyula Fatér, CEO, OTP Bank Romania.

“Since 2009 we have been committed to paving the way for the creation of a strong national circular economy, by recycling waste electrical and electronic equipment, and the resulting fractions to be used as secondary raw materials in various industries. This new plant highlights the strategy of our group, namely the continuous growth of the business through investments in the latest and most modern technologies, while contributing to the reduction of pollution and the stimulation of recycled materials.”, said Marius Costache, General Manager of GreenWEEE.

GreenWEEE converts the collected WEEE (refrigeration and air conditioning equipment, small and large household appliances, power tools or computer and telecommunications equipment, etc.) into high purity fractions, which are then introduced into the economy as secondary raw materials, which are so necessary especially in the current context.

The waste comes from the local market, from economic operators authorized to take responsibility for the manufacturer, electronics and home appliance retailers, sanitation companies, collectors, as well as through contracts with large producers.

“Innovation in the production of electrical and electronic equipment fuels our desire to increase the level of performance for the quality of recycling services, which is why our treatment lines are aligned with international standards BATRRT (Best Available Techniques of Recovery, Recycling and Treatment).

In addition to generating significant economic benefits, the recycling industry has a key role to play in protecting the environment. WEEE is not only a valuable material, but also contains toxic substances. Following the processing in our factories, the pollutants are removed in a controlled environment, and the recovery of waste materials reaches a percentage of over 98%. “, continued Marius Costache.

The company is the only unit in Romania and one of the few in Europe with a WEEELABEX operating license, on five treatment flows. The WEEELABEX standard (www.weeelabex.org) is a recognition of performance in the collection, logistics and treatment of waste electrical and electronic equipment.

 

About GreenWEEE

GreenWEEE is part of the Green Group integrated recycling park and operates in two factories in Romania (in Buzău and Câmpia Turzii), with a total treatment capacity of 100,000 tons / year, with a total investment of 25 million euros. The company recycles all categories of waste mentioned in the legislation, used batteries and accumulators, cables and components in the automotive industry.

Since 2016, Green Group has been owned by Abris Capital Partners, a top independent private equity fund that focuses on mid-market opportunities in Central and Eastern European (EEC) countries with capital investments of over 1, EUR 2 billion.

 

 

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