Circular Economy (CE) is a promising approach towards maximizing value by increasing resource productivity, enhancing energy efficiency, lowering resource consumption and decreasing waste. By transitioning to a CE, Nordic Industry as a whole can pave the way for modern sustainability thinking and establish itself as benchmark in the field, whilst also enhancing its position in the highly competitive international market.
To support the Nordic Industry in its transition towards CE, the CIRCit research project has gathered some of the Nordic region's top research organizations and dissemination partners, to carry out a comprehensive exploration of the Nordic CE potential. The CIRCit partners are the Technical University of Denmark (DTU), SWEREA IVF, the Norwegian University of Science and Technology (NTNU), Innovation Center Iceland (ICI) and the Federation of Finnish Technology Industries.
CIRCit will develop science-based tools and approaches, in close collaboration with Nordic companies, through case studies and action research, with the aim of enabling Nordic Industry to:
i) Understand the overall potential and readiness for CE implementation, so to ensure commitment at the strategic level and full customization of the transition path;
ii) Investigate and conceptualize alternative Circular Business Models, with focus on servitization, so to develop innovative value propositions and offerings;
iii) Develop circular products, services and solutions, which can support the value maximization throughout multiple life cycles and effectively enhance energy efficiency;
iv) Support the operation of circular products, services and solutions during the use phase, by introducing intelligent assets to collecting performance data and optimize the lifetime;
v) Close the loop of materials at the end-of-use, by selecting the best strategies to be implemented (e.g. remanufacturing, recycling and reuse) depending on the product's technical characteristics.
The tools and approaches developed in CIRCit will be broadly disseminated in the Nordic Industry, to maximize the tools' impact and uptake. By supporting the transition to CE, CIRCit will contribute to increased efficiency of production and a more effective use of natural resources and energy, leading to increased competitiveness, growth and job creation. Ultimately, we expect a systemic and sustainable enhancement of the Nordic economy and society.