Buzău, 6th of December 2023
GreenWEEE, the Romanian company market leader in the industry of electrical and electronic waste recycling, has completed its third recycling plant. Investing 15 million euro in cutting-edge recycling equipment, the company, which has been operating in Buzau since 2009 and in Câmpia Turzii since 2017, is increasing its capacity by 40%.
The new plant offers an integrated solution for the recycling of refrigerators and other household and industrial electronics, with a focus on the recovery of hazardous substances, including oils, refrigerants, and expanders.
Within the fastest-growing global market for e-waste, GreenWEEE can recycle one million refrigerators a year, with over 98% of the materials recovered and reintegrated into the economy. With the start of the new processing lines, GreenWEEE's total recycling capacity reaches 140,000 tons per year.
The new investment, located on the premises of Frasinu industrial platform in Buzău, also includes a 35,000 sqm expansion of the production and logistics area, as well as the establishment of a parking lot equipped with charging stations for electric vehicles and one for trucks. Additionally, a modern office space has been developed, operating efficiently and sustainably due to an advanced system of air conditioning, heating, and air filtration.
Marius Costache, CEO of GreenWEEE, stated: "In a global context where over 50 million tons of electronic waste are generated annually, it is evident that we need a solution to address this complex issue. Our investment is not just a financial commitment but a fundamental element of GreenGroup's plan to advance the circular economy throughout Europe. Given the often-hazardous nature of e-waste, we have allocated significant resources for the implementation of advanced technologies, as well as for ensuring traceability of the process and material recovery, facilitating their reintroduction into the economic cycle."
The investment project is part of the GreenGroup development strategy, aligned with Abris’s vision, aiming to expand and consolidate its position as a leader in the circular economy in Central Europe. Abris Capital Partners is the main private equity investor specializing in ESG transformation in Central Europe and aims to develop portfolio companies into regional champions.
The electric and electronic waste recycled by GreenWEEE is collected from the local market, from economic operators authorized to take over the responsibility of the producer, retailers of electronics and appliances, sanitation companies, collectors, as well as through contracts with large producers.
GreenWEEE is the market leader in Romania in the treatment and recycling of WEEE (waste electrical and electronic equipment), batteries, and components from the automotive industry. The company operates in three factories, in Buzău and Câmpia Turzii, with a total treatment capacity of 140,000 tons/year, over 350 employees, and a total investment of 40 million euros.
GreenWEEE ensures treatment at the highest standards, being the only unit in Romania and one of the few in Europe with the WEEELABEX operating license. The WEEELABEX standard (www.weeelabex.org) is a European certificate that sets a set of rules regarding the collection, logistics, and treatment of waste electrical and electronic equipment. The company is part of GreenGroup.
GreenGroup is a leading regional integrated recycling group and circular economy enabler, with over 20 years of activity. GreenGroup is a leading European market player in PET recycling and production of r-PET and polyester staple fiber and a key player in polyolefin recycling, electronics recycling, glass waste recycling and industrial waste management. Since 2016, the company has been majority owned by Abris Capital Partners, one of the leading private equity investors in Central Europe.
Abris Capital Partners
Abris Capital Partners is the leading ESG transformation specialist private equity fund manager, focused on mid-market opportunities in the major countries of Central Europe. Established in 2007, Abris seeks to identify and partner with the most successful and dynamic mid-market businesses in Central Europe, which can benefit from an input of capital and management expertise at both strategic and operational levels, while driving growth through ESG transformation.
With investment capital of almost €1.3 billion, Abris has obtained financial backing from many leading global investment institutions including corporate and public pension plans, financial institutions, funds of funds and US university endowment funds. Abris has a long-term investment horizon and usually targets transactions in which it can acquire a majority or sole ownership position. The Abris advisory business operates using teams based in Warsaw and Bucharest.