The Industrial Technology Research Institute (ITRI, 工研院) yesterday confirmed that it has signed a memorandum of understanding (MOU) with Finnish consulting and engineering company Poyry Oyj to encourage Taiwanese industries to embrace the global trend of a circular economy.
The institute said the MOU would serve as a basis on which Taiwan could gain insight into industries such as biomass and water treatment, as well as carbon dioxide recycling methods.
The Vantaa-headquartered company would also provide information surrounding EU regulations on two major domains: textiles and packaging materials, Poyry vice president Petri Vasara said in a statement.
Up to 70 percent of participants in the European energy market consult the Finnish company, ITRI Material and Chemical Research Laboratories deputy director Alex Peng (彭裕民) said in the statement.
Global industries are steadily moving toward circular business models that consist of zero-waste and recycling practices, Peng said.
Taiwanese companies have also started to incorporate such practices into the production process to help clients comply with international norms, he said.
Peng and his team are displaying circular economy-related technologies developed by ITRI at the World Circular Economy Forum in Helsinki.
The technologies on display include surfboards produced from Lignin polyurethane foam, synchronized functional dyeing technology that avoids the need for water during the dyeing process and recyclable suitcases made from continuous fiber-reinforced thermoplastic composites, ITRI said.
The World Economic Forum said in a report published earlier this year that circular business models generate wealth and employment as global resources grow scarce, as they create more value from each unit of resource than the traditional linear “take-make-dispose” business models.
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