Sustainable mobility company Riversimple has announced the launch of Circular Revolution, a Circular Economy Innovation Centre for Wales.
The Circular Revolution is described as being ‘the first business-led hub in the UK focused on circular thinking’. Designed in partnership with Swansea and Exeter Universities, the £2.3m centre is part-funded by the European Regional Development Fund through the Welsh government, which will contribute over £1.5m.
“It is a privilege to be afforded this opportunity to host the centre and drive circular thinking forward globally from Wales,” said Riversimple director Fiona Spowers. “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.”
Two programmes of activity will be delivered from the centre, which will be based at Riversimple’s HQ in Llandrindod Wells. The first is an outreach programme for businesses in West Wales and the Valleys wanting to engage with more sustainable products, services and business models. The two universities will be supporting companies in exploring how to embed circular principles into their business.
The second programme is a research and innovation programme aimed at tackling specific challenges faced by businesses in adopting a sale of service circular model. Six pilot projects will focus on developing procurement, computation systems and legal frameworks, Riversimple revealed in its announcement today.
Lesley Griffiths, the minister for Environment, Energy and Rural Affairs in Wales added: “As we move Wales towards becoming a net-zero nation, and we progress our transition toward 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.”