LONDON, Nov. 18, 2024 /PRNewswire/ —  The Global Circular Economy Market is Segmented by Type (Circular Products and Services), By Enterprise Size (Large Enterprise and Small & Medium Enterprise), By Industry (Manufacturing Industry, Consumer Goods, Waste Management and Recycling Construction and Building Materials, Automotive and Transportation, Food and Agriculture and Others) and By Region (North America, Europe, Asia-Pacific, South America and Middle East & Africa). The report offers market size and forecasts for global circular economy are provided in terms of value (USD) for all the above segments.

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Market Overview:

The growing awareness of pressing environmental challenges such as climate change, resource depletion, and pollution has resulted in a significant shift in customer attitudes, company processes, and government laws. The market’s growth is expected to be primarily driven by rising worries about environmental degradation and significant waste generation across many product categories, which are partly due to the world’s rapidly growing population. As a result, companies who adopt the circular economy may adopt circular principles and improve their reputation, ultimately contributing to the growth of the circular economy industry.

The increasing demand for sustainable products, as well as the depletion of scarce resources like as fossil fuels, minerals, and rare metals, are expected to drive market expansion throughout the forecast period. The paucity of these essential elements has become apparent as a result of the depletion of limited resources. Individuals and businesses are increasingly likely to employ circular economy tactics to reduce their reliance on underutilized raw materials as they become aware of the scarcity of these resources. The circular economy promotes long-term resource management by focusing heavily on product and material reuse, recycling, and remanufacturing. This method decreases the need to extract new resources, which helps to reduce the demand on finite resources and its negative environmental effects.

The circular economy market is growing mostly due to increased awareness of environmental sustainability and resource constraint. Governments and regulatory organizations are enacting tough laws to decrease waste, promote recycling, and lower carbon footprints. This legal pressure drives sectors to adopt circular models that stress material reuse, refurbishment, and recycling.
For example, in December 2023, the National Circular Economy Roadmap for Reducing Plastic Waste in India was unveiled in New Delhi. This roadmap was the outcome of three years of collaboration between Indian and Australian academic organizations. It explains the entire plastics value chain and makes recommendations to help smooth the transition to a circular economy, with the purpose of reducing plastic waste, alleviating environmental issues, and encouraging economic benefits.

Advancements in recycling technology, as well as favourable government policies and regulations, drive market growth. Many governments set waste reduction goals, such as zero-waste targets, with the goal of reducing landfill discharge while also promoting recycling and recovery. These goals create a sense of urgency and set waste reduction targets, encouraging the use of circular processes. Furthermore, enterprises who invest in circular economy projects such as recycling centres, renewable energy projects, or sustainable product design may be eligible for tax breaks, grants, or subsidies from their government. With these financial incentives, circular processes become more economically viable.

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Market Trends:

Market Trend 1: Manufacturing Industry Holds the Largest Market Share in the Circular Economy

Manufacturing firms face excess demand, and changes and innovations in the business environment. A firm has to adopt both economic as well as environmental performance due to global warming and the high levels of sustainable development targets. Transition from the linear to CE minimizes waste and optimizes the utilization of resources by recycling, reusing and repairing.

With the more than adequate resources available, MNCs may change from one economic model to the other because they have enough resources to invest in such strategic development projects. Since the integration of circular economy techniques may not only result in a good ecological reputation but also lead to social and economic gain for the company, numerous manufacturers have already actively taken up on the initiative. For instance, through the use of a survey, circular economy projects may cut down on CO2 emissions by half by 2030 and save as much as USD 700 million annually in material costs during production.

The highly contributory areas of the manufacturing industry to the circular economy are those of eco-design, recycling, and remanufacturing. Perhaps the most important technological achievements are remanufacturing and product longevity in the automobile, electronic, and heavy machineries industries. In such industries, the reuse or reconditioning of the components may be viewed as the extension of cycle life of a product without needing any extra material. Innovations in resource recovery, new recycling technologies, and industrial symbiosis also help manufacturing companies realize cost savings without affecting efficiency.

Market Trend 2: Asia-Pacific Region is the Fastest-Growing Market in the Global Circular Economy

The Asia-Pacific region is currently experiencing the fastest growth in the global circular economy. This is because, as major economies of the world like China, Japan, and India industrialize rapidly, Asia-Pacific is gradually adopting the practices related to circular economies in various industries, mainly waste management, electronics, manufacturing, and the automotive industry. Official directives and the need to manage its huge population in the city and environmental issues have led China to make tremendous leaps in recycling, waste-to-energy technology, and sustainable production. For its part, Japan is one of the pioneers on the circular economy front, with modern systems of recycling, focusing on resource efficiency, and product lifespan. Increasing awareness of the economic as well as environmental benefits of cyclic processes and increased government aid in the form of sterner environmental regulations are also helping the region.

As consumers continue to grow in their desire for sustainable goods and services, this will push companies to integrate concepts of the circular economy into their day-to-day work. Asia- Pacific will grow hugely and will be the fastest region to develop within the global circular economy sector mainly due to increased investment in technology, innovation, and infrastructure supporting circular systems.

Competitive Landscape:

The research provides a comparative assessment of the major firms and organizations operating in the global circular economy market, mainly based on their product offerings, business overviews, regional presence, enterprise strategies, segment market share, and SWOT analysis. Additionally, the study offers a detailed analysis of recent events and company developments, including product development, inventions, partnerships, joint ventures, mergers and acquisitions, strategic alliances, and more. This makes it possible to assess the level of market competition overall. Major key players in the circular economy market include TOMRA, Veolia Water Technologies, ACCIONA Service, Pact Group Holdings Ltd., Siemens, Unilever, BASF, Veolia, Philips, Circular Economy Leadership Canada, and Others.

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Major Players:

TOMRAVeolia Water TechnologiesACCIONA ServicePact Group Holdings Ltd.SiemensUnilever

Recent Developments:

In November 2024, Veolia Water Technologies has launched its mobile water services to the European life science, cosmetics, and pharmaceutical sectors. In order to provide dependable, continuous, and sustainable solutions for manufacturing, cleaning, and complex liquid waste treatment for compliance offsite management, this effort offers a wide range of technology and services packaged as a rental service.In October 2024, TOMRA has acquired 80% of the shares in c-trace GmbH, a German leader in digital waste management solutions. c-trace, founded in 2005, offers advanced solutions that combine software and hardware modules to digitize and improve the process for waste management operations. As municipalities and industries increasingly seek to reduce inefficiencies and comply with stricter environmental regulations, demand for these solutions is rising.

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The global leader in pool cleaning technology introduces cutting-edge cordless robotic cleaners and wellness-driven solutions for an effortless, personalized pool experience

KIBBUTZ YIZREEL, Israel, Nov. 18, 2024 /PRNewswire/ —  Maytronics (TASE: MTRN), the global leader in pool cleaning technology, is set to showcase its latest innovations at Piscine Global 2024, taking place at Eurexpo Lyon from November 19-22, 2024. Visitors can experience these groundbreaking products at Hall 4, 4C36 and 4C42.

Building on its decades-long reputation for quality and innovation, Maytronics is introducing a new range of cordless robotic pool cleaners designed to meet the evolving needs of modern pool owners. The lineup includes the Dolphin LIBERTY™ line, the Niya Tracker robot line, and the Dolphin Skimmi line, each offering unique features to enhance the pool cleaning experience.

The new LIBERTY™ 600 brings advanced cleaning performance and superior water clarity, while the Niya Tracker combines efficient and hassle-free cleaning for the more price conscious pool owner. The Dolphin Skimmi™ rounds out the new product offering with effective water surface cleaning, keeping pools free of floating debris with minimal effort. All the new products are designed to meet the cleaning needs of pool owners, while delivering hassle-free solutions and exceptional post-sales support.

Maytronics is also unveiling Mineral Swim™, a cutting-edge purification system that combines the natural therapeutic benefits of Dead Sea minerals with AI-driven technology. With smart, autonomous, and self-calibrating control, Mineral Swim transforms pools into spa-like retreats in the pool owner’s backyard.

“Our focus remains on innovating to meet pool owners’ needs and their future expectations,” said Sharon Goldenberg, CEO of Maytronics. “We’re dedicated to creating personalized, technology-driven solutions that not only simplify pool care but elevate the entire experience, empowering an exceptional pool ownership experience.”

Founded in 1983, Maytronics has established itself as a global leader in the pool industry. The company operates through six subsidiaries in the US, France, Germany, Spain, and Australia, and collaborates with over 100 distributors across more than 65 countries to provide comprehensive customer support. Serving millions of customers worldwide, Maytronics consistently sets industry standards for innovation and customer satisfaction, delivering exceptional experiences through cutting-edge technology.

For more information visit: https://lyon.maytronics.com/ 

Contact:

Tomer Rubinshtein
Tomer.Rubinshtein@Maytronics.com

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SANDNES, Norway, Nov. 18, 2024 /PRNewswire/ — The company update webcast was hosted on 15 November 2024 at 10:00 AM (CET).

Please find below links to Desert Control’s Q3-2024 Report and Year-to-Date Company Update materials:

Q3-2024 Report and Interim Financial Results – Report: https://go.desertcontrol.com/dsrt2024q3report  Q3-2024 and YTD Company Update – Presentation: https://go.desertcontrol.com/dsrt2024q3presentation  Q3-2024 Company Update – Webcast Presentation Recording – Replay: https://go.desertcontrol.com/dsrt2024q3recording Q3-2024 Company Update – Webcast and Q&A – Written Transcript: https://go.desertcontrol.com/dsrt2024q3transcript

(Note: the transcript includes a complete Q&A recap with written answers to all questions of the extensive Q&A session and includes both the questions that time allowed cover in the webcast plus all additional submitted questions).

DSRT Q3 and YTD 2024: Company Update Summary

Desert Control continued its positive momentum in the third quarter of 2024, achieving milestones in market expansion and pilot progress, as well as generating its first licensing revenues from the Middle East. The company has year to date more than doubled deployed LNC volume, revenue, and pipeline value compared to the same period in 2023. Based on the current development of pilots and sales pipeline supported by groundbreaking technological advances, the company anticipates multiple complete golf courses fully deployed in 2025, several phase 2 deployments in high-value agriculture in the United States, and growing revenue streams from the Middle East.

The past quarter saw strong results from pilots in agriculture and landscaping, supporting negotiations for larger commercial projects in the United States. Growing traction in the Middle East further strengthens the foundation for growth under the royalty-based licensed operator model. Further, the post-quarter event of securing commitment for the first full-scale golf course deployment under a new outcome-based business model marks an important milestone.

Operational Highlights:

Solid Pilot Results Strengthen Validation and Support Negotiations for Larger Contracts in the United States

Landscaping Success in the U.S.: Landscaping pilots in California achieved over 25% irrigation savings, with some clients reporting water reductions exceeding 50%. These results drive negotiations for larger contracts as high water costs continue to rise.First Contract for a Complete Golf Course: On November 8th, Desert Control signed an agreement with Berkeley Country Club with potential value exceeding NOK 6 million under a new outcome-based business model, marking the first commitment for full-course LNC deployment in the U.S.Agricultural Gains: Harvest data from an LNC-treated date farm in Arizona showed nearly double the yield, underscoring LNC’s economic impact on high-value permanent crops and supporting Desert Control’s agricultural market expansion.

First Licensing Royalties from the Middle East

Revenue Milestone: Desert Control recorded its first licensing royalties from the Middle East. While modest, this revenue marks the beginning of a scalable revenue stream following the strategic shift to a royalty-based licensed operator model for the region. New Contracts and Expanding Pilots: A new contract for 1.8 million liters of LNC was secured for a UAE real estate project. Landscape nursery pilots in the UAE and Saudi Arabia demonstrate LNC’s effectiveness in the growing sustainable landscape management sector.

R&D and Technology Advancements Strengthen Delivery Capabilities for Current and Future Pipeline

Syngenta Partnership Accelerates R&D: Collaboration with Syngenta has shown promising lab results of synergies with LNC. Field trials in the Middle East, set for Q4 2024, aim to further validate the impact on soil health, crop yields, and water efficiency.Next-Gen Production System Progress & Siemens Partnership: Development of the next-generation LNC production system is on track, with capacity nearing the targeted 120,000 liters per hour. Achieving this milestone capacity will unlock large-scale opportunities that require high volumes within short time windows, enabling projects previously out of reach.

Financial Highlights:
In the first nine months of 2024, Desert Control reached a record number of installations, increased LNC deployment volumes, and more than doubled LNC revenue compared to the previous year. These achievements highlight enhanced operational efficiency driven by the new prototype LNC production system, streamlined integration with irrigation systems, and insights gained from pilots and prior projects.

Revenue Increase: Year-to-date LNC revenue totaled NOK 1.88 million, more than doubling from the same period in 2023. Total revenue and other income for Q3 2024 was NOK 0.18 million, up from NOK 0.01 million in Q3 2023.EBITDA Improvement: For the first nine months of 2024, EBITDA improved to NOK -44.95 million from NOK -60.81 million in the same period last year. Q3 2024 EBITDA was NOK -14.16 million, an improvement from NOK -17.9 million in Q3 2023, driven by efficiencies from transitioning to the licensed operator model.Cash Position: The company ended the quarter with a cash balance of NOK 75 million, compared to NOK 35 million at the same time last year. The company continues to operate with no interest-bearing debt.

The growth in project volume and LNC deployment, combined with improved EBITDA figures, underscores the enhanced efficiency of operations. The ability to handle larger volumes at a reduced cost base positions Desert Control to maintain healthy margins as the company scales up. 

Outlook:

With solid progress in the U.S. and Middle East, Desert Control is positioned to transition pilot projects into larger contracts and expand LNC adoption in the year ahead. The upcoming readiness of the next-generation LNC production system, solid R&D progress to expand LNC’s impact on soil health, and strengthened partnerships will further strengthen the company’s foundation and accelerate progress in bringing economical, scalable, and sustainable solutions for soil health and water conservation to global markets. Looking ahead, 2025 is set to be another year of significant breakthroughs for Desert Control. 

Q3 Report 2024: 

The information enclosed is subject to the disclosure requirements pursuant to sections 5-12 of the Norwegian Securities Trading ActThe report and materials can also be downloaded from the company webpage: https://desertcontrol.com/investors/

Cautionary Note:

Disclaimer related to forward-looking statements.

This release contains forward-looking information and statements relating to the business, performance, and items that may be interpreted to impact the results of Desert Control and/or the industry and markets in which Desert Control operates.

Forward-looking statements are statements that are not historical facts and may be identified by words such as “aims,” “anticipates,” “believes,” “estimates,” “expects,” “foresees,” “intends,” “plans,” “predicts,” “projects,” “targets,” and similar expressions. Such forward-looking statements are based on current expectations, estimates, and projections, reflect current views concerning future events, and are subject to risks, uncertainties, and assumptions, and may be subject to change without notice. Forward-looking statements are not guarantees of any future performance, and risks, uncertainties, and other important factors could cause the actual business, performance, results, or the industry and markets in which Desert Control operates to differ materially from the statements expressed or implied in this release by such forward-looking statements.

No representation is made that any of these forward-looking statements or forecasts will come to pass or that any forecasted performance, capacities, or results will be achieved, and you are cautioned not to place any undue reliance on any forward-looking statements. 

For more information, please contact:

Ole Kristian Sivertsen
President and Group CEO
Email: oks@desertcontrol.com 
Mobile (NOR): +47 957 77 777
Mobile (USA): +1 650 643 6136

Leonard Chaparian
Chief Financial Officer
Email: leonard.chaparian@desertcontrol.com 
Mobile (NOR): +47 90 66 55 40

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