The CIWM (Chartered Institute of Water Management) has released its latest list of the Fast 30 – the fastest growing privately owned waste services businesses in the UK by revenue growth. Heading the rankings is Redeem, an electronic product recycling company. Redeem’s revenue showed a two-year average compound growth rate of 83%, to reach revenue of £19.6m in the year to March 2011.
The CIWM is the professional body which represents waste and resource professionals working in the sustainable waste and resource management sectors worldwide. The Waste Fast 30 assesses private waste services businesses which are registered in the UK, at least three years old and with an annual revenue in excess of £7.5m. Companies must show two successive years of revenue growth in accounts filed at Companies House.
Redeem tops a list of companies that have an average growth rate over two years of just under 30%. There are only two electronics recyclers in the list, the other being Recycling Lives Holdings Limited, in fifth place.
Redeem provides recycling solutions for a range of hand held technologies such as mobile phones, tablets, laptops, consoles, MP3 players and satellite navigation systems. The Scotland-based company operates under several brand names, including Redeem, emceurope, Money4urMobile, Wicked Gadget and Rethink, aimed at different markets: mobile network operators, business-to-business companies, consumers and charities.
Review: It’s good to see an electronics recycler as the fastest growing ‘waste’-related company in the UK, although slightly disappointing that there are only two electronics recyclers in the list (although both in the top five).
One reason for just two companies will be that there hasn’t been a great deal of money in recycling electronics products in the past, its only now that refurbishing and reselling has become more prominent that profits have escalated. Redeem’s aim is to ‘enable our customers to redeem the value of used electronics by extending their lifespan’. And as we all know, reuse is the best form of recycling. There must also be a certain critical mass required before refurbishing and selling back to consumers starts to pay off and Redeem seems to have reached that point.
Just one other comment. I can’t help thinking that the CIWM should change its name. Should we really be referring to ‘waste’ as an industry, it implies throwing away stuff that’s of no value. The industry is much more about reclaiming value and preventing disposal. How about the Chartered Institute of Recycling Management (CIRB), which has much better connotations.