Chinese Company Finalist in the Award for Circular Economy Multinationals

Chinese Company GEM Co. Ltd. was awarded runner-up in the Award for Circular Economy Multinationals at the World Economic Forum in Davos (Switzerland), Chinese news agency Xinhua reported in January this year.

In 2016, the company processed three million tons of waste, recycled 37 kinds of resources, and recovered 58 kinds of products. “At present, GEM has completed five major industrial chains. The recycling of waste batteries and power battery industry chain, cobalt and nickel tungsten resource recycling and carbide industry chain, the recycling of electronic waste industry chain, comprehensive utilization of scrap automobile industry chain, waste residue, waste mud, waste water recycling industrial chain. There are sixteen industrial parks in the China’s ten provinces and cities to drive the business,” the World Economic Forum gave account. The company was founded in December 2001 in Shenzhen and went public in January 2010. “GEM is China’s first listed company exploiting urban mines, resource recycling and Waste Electrical and Electronic Equipment Directive (WEEE) recycling industry,” the information says. The company has more than 5,000 full-time employees.

According to Xinhua, GEM has applied for 1,200 core patents in the field of waste recycling and material recovery, including 52 Patent Cooperation Treaty (PCT) and foreign patents; more than 20 core patents were authorized in Europe, the USA and Japan. As reported, the company cooperated with the University of Oxford and the Oxford University Innovation Limited with regard to pyrolysis oil from waste tires. It has made investments in Europe and also intends to build a “China-African Circular Economy Industrial Park” in South Africa.

The Circulars – an initiative of the World Economic Forum and the Forum of Young Global Leaders, run in collaboration with Accenture Strategy – is the world’s premier circular economy award program. The award offers recognition to individuals and organizations across the globe that are making notable contributions to the circular economy in the private sector, public sector and society. The annual awards are hosted at the World Economic Forum’s Annual Meeting in Davos.

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