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Circularity as a Service is as a strategy that reshapes how businesses approach the principles of the circular economy. This business model seamlessly blends circular economy principles with servitisation, signifying a potent solution to combat resource depletion and environmental deterioration.
Circularity as a Service at its essence represents a departure from the linear economic model towards a circular framework centred on resource efficiency, recycling, and reutilisation. Its core objective lies in uncoupling economic growth from excessive resource consumption by fostering closed-loop systems where products and materials continually find new purpose through repurposing, refurbishing, or recycling.
Servitisation, on the other hand, pivots on delivering value to customers through services rather than mere product transactions. It underscores enduring relationships, prioritising outcomes, and experiences over the mere sale of physical goods.
The integration of Circularity and Servitisation redefines the conventional ownership-based business model. This novel approach offers performance-based services, where companies retain product ownership while customers pay for the utility or output they receive. This shift from ownership to service-centric models aligns seamlessly with circular principles by incentivising durability, repairability, and material recovery.
It amplifies sustainability by minimising waste generation, curbing emissions, and fostering innovation in product design. Financially, it ensures stable revenue streams, cost reduction, and elevates the customer experience by prioritising access over ownership and product performance.
Implementing Circularity as a Service necessitates a holistic approach that involves fostering collaborative ecosystems through partnerships, integrating technology and data for monitoring and optimisation, and aligning with regulatory frameworks that incentivise circular practices and service-based models.
Underpinned by the development of digital tools that will monitor the sustainability, circularity and environmental and social impacts of industrial bio-based systems, the BIORADAR project´s Bio-Based Transition Indicator (BTI) Framework will create new criteria, metrics, and assessment methodologies, with a focus on fostering circularity within bio-based systems, and implement a life cycle approach aimed at enhancing material efficiency revolving around promoting durability, fostering reuse, facilitating repair, enabling remanufacturing, and encouraging recycling patterns.
BIORADAR´s products and solutions will be offered as a servitisation model that embraces Circularity as a Service, providing a complete value proposition as a comprehensive service package tailored specifically for the bio-based industry, encompassing establishment and initiation to the ongoing performance monitoring of bio-based industrial systems. This comprehensive service offering will be complemented by the provision of a global bio-based system regulatory tracker tool, enabling stakeholders to easily identify circularity solutions, methods for implementation, track progress, and stay up to date with global bio-based regulations.