Transforming waste into wealth: How firms can unlock revenue streams while reducing their carbon footprint
Businesses can soon buy and sell waste as raw material in a new AI-driven circular economy marketplace and gain valuable data for sustainability reporting
AS BUSINESSES seek ways to reduce their carbon footprint and advance sustainability goals, one firm has found a way to turn waste into raw materials.
After years of paying companies to recycle its manufacturing waste, sustainable packaging firm Greenpac will soon be able to sell off-cuts and sawdust produced by its wood manufacturing processes through a waste-to-resource marketplace.
“These materials have valuable applications across different industries,” explains Greenpac’s chief executive officer Chika Imakita.
“Through the marketplace, we can now connect directly with companies that use our wood waste for paper production, as fuel in biomass power plants, or even for cleaning up oil spills.”
The marketplace’s platform builds upon A*Star’s industrial symbiosis database – an extensive waste-to-resource transition knowledge repository that encourages inter-company synergies for resource and expertise exchange.
Enhanced with artificial intelligence (AI), the platform enables buyers and sellers to receive tailored matches based on specific needs and preferences, streamlining the resource exchange process.
Sellers can access new markets for their waste materials, generating additional revenue streams. Buyers save on material costs when they purchase reusable waste from direct sellers.
But more notably, by turning waste into a valuable commodity, all parties can reduce their overall carbon footprint.
By giving waste materials like sawdust a new lease of life, this timely initiative aligns with Singapore’s green targets, including plans to cut 30 per cent of waste sent to landfills by 2030. The country’s only landfill is forecast to reach capacity by 2035.
Together with its tech partner, Circular Unite, Greenpac has opened new possibilities for businesses to contribute to national sustainability goals by transforming their waste management practices.
Promoting a circular economy through waste
Greenpac found its tech partner Circular Unite through the Infocomm Media Development Authority’s (IMDA) Open Innovation Platform (OIP), an initiative that connects companies with business challenges to more than 16,000 technology solution providers worldwide.
Working with Greenpac, Circular Unite built on an existing digital solution, its flagship Next Gen Analytic Tool for Achieving Low Impact Ecosystem (Natalie). This platform is being expanded to include the waste-to-resource marketplace for businesses to buy and sell waste as raw materials.
Says Circular Unite’s chief executive officer and co-founder Emmanual Tay: “Greenpac offered valuable insights into the operational challenges and market needs, allowing us to refine and customise our platform for real-world application.”
The new system streamlines what was once a time-consuming process of manually calling potential buyers, enabling businesses to connect digitally with multiple off-takers at the same time. A*Star’s network helps extend the marketplace’s reach beyond Natalie’s immediate users, connecting more buyers with sellers.
Natalie also provides valuable data for sustainability reporting by tracking how much carbon emissions are avoided when materials are reused instead of discarded. Climate reporting will be compulsory for all companies listed on the Singapore Exchange (SGX) from the financial year 2025.
The system calculates the carbon footprint of common materials like cartons, paper and metal. Circular Unite has plans to expand these calculations to include more diverse materials as the marketplace grows.
Explains Tay: “By connecting with a wider network, we help our clients reduce landfill waste, promote circularity within their supply chain and meet sustainability targets with measurable results.”
Building a waste-to-resource ecosystem
Greenpac and Circular Unite first connected through the Infocomm Media Development Authority’s (IMDA) Open Innovation Platform (OIP) as part of the A*Star Advanced Manufacturing Startup Challenge 2023.
In partnership with A*StartCentral and A*Star Advanced Remanufacturing and Technology Centre (A*Star ARTC), OIP facilitated Greenpac’s search for a suitable solution partner to kickstart its innovation journey. The company was looking for ways to make better use of its manufacturing waste while reducing its environmental impact.
OIP’s structured approach helped Greenpac transform its business challenge into a clear, actionable problem statement for potential partners to address. Through a guided evaluation process, the company found its ideal match in Circular Unite.
Circular Unite then collaborated with A*Star ARTC and A*Star Singapore Institute of Manufacturing Technology (A*Star SIMTech) to develop a waste-to-resource marketplace, encouraging businesses like Greenpac to view waste as valuable resources in generating revenue and reducing carbon footprint.
As consortium members of the A*Star ARTC, Greenpac and Circular Unite gained access to a waste-to-resource knowledge repository, and a collaborative platform to drive innovation and growth.
A*Star ARTC serves as a hub for its industry partners, fostering co-innovation and the co-deployment of advanced manufacturing solutions and skills to help enterprises stay competitive and grow in Singapore.
“Greenpac’s active involvement provided valuable real-world insights, while the technical expertise from IMDA and A*Star enabled rapid iteration and customisation of the platform,” says Circular Unite’s chief executive officer and co-founder Emmanual Tay
With A*Star’s help, Circular Unite will also onboard intermediary companies specialising in waste-to-resource conversion technologies, creating a more comprehensive ecosystem for materials processing.
As the marketplace matures, the tech company will strengthen its base in the timber industry and branch into new sectors, including food manufacturing, printing, packaging and textiles. Plans are also in place to expand into Thailand, Japan and Malaysia.
“While the IMDA OIP challenge helped us connect with new clients, its real value lies in validating our solution and refining it to meet specific industry needs,” says Tay.
The waste-to-resource marketplace is in the final stages before going live in the second quarter of 2025. Circular Unite is currently inviting organisations to join the beta testing of the marketplace, and has its eyes set on bigger opportunities for the platform.
“We are already getting interest from overseas organisations and government entities to test our solution after we officially launch the marketplace,” Tay says.
Greenpac is excited to get started, says Imakita.
“Apart from cost savings, we are also looking at waste management becoming a valuable part of our business model rather than just a necessary cost.”
Encouraged by its first smooth experience with IMDA’s OIP, the firm is open to new possibilities.
Says Imakita: “We benefited from the platform’s ability to match us with innovative consultants who could address our business challenges, and we look forward to solving potential future problems this way.”
Find out more about the IMDA OIP programme and stay updated on upcoming challenge calls by joining the mailing list.
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