Freightways invests $2.7 million in anti-litter solution to building material shortage
Freightways has invested $2.7 million in SaveBOARD, an innovative solution that recycles packaging waste into building boards.
The money enabled SaveBOARD to open a factory in Te Rapa, which became fully operational late last year and currently converts up to 4,000 tonnes of waste a year into around 200,000 building boards of which we desperately need.
Investing is not just business, but the right thing to do according to Freightways CEO Mark Troughear. It converts materials such as Tetra Pak and fast food cartons, which were previously not recyclable, into building panels that perform similarly to plywood, oriented strand board and particle board and can be used in inside as well as outside.
With transport and construction together accounting for almost 30% of New Zealand’s greenhouse gas emissions, Freightways recognized the venture as an opportunity to meet the needs of both sides.
The listed company sees SaveBOARD as a means to achieve a number of goals. It is able to offer its customers a way to manage waste within their own businesses, maximize the efficiency of its existing waste collection services and accelerate its goal of reducing emissions by 50%. carbon by 2035.
“One of the fundamental principles of Freightways is to take ownership and solve problems through action. Our job is to get things done now, rather than relying on suppliers and customers to find solutions.
“Through the Australian branch of our companies Shred-X and Med-X, we are already diverting over 98% of our collected waste from landfill.
“SaveBOARD provided an exciting proposition in that it offered both a reliable and clean method of disposing of hard to recycle waste – things we already collect and shred in our business units like Tetra Pak cartons and packaging. fast food restaurant – and delivered a viable end product that is much needed in the construction industry in New Zealand,” says Troughear.
Led by Paul Charteris, SaveBOARD uses patented Smart Technik technology to convert waste that previously could not be recycled in New Zealand, including fiber and poly-coated packaging such as coffee cups, cardboard and waste into soft plastic into world-class products.
Initial support in 2020 from Freightways in the form of a $1.1 million loan was later converted to a 22% stake in November 2021 after significant interest was generated in the business.
“The technology has seen incredible adoption overseas by leaders who want to demonstrate green solutions to construction. For example, Tesla chose to use SaveBOARD for the membrane substrate for its 200,000 square meter roof at Gigafactory One, which saved 2,000 tons of waste from the landfill.
“Locally, we have phenomenal interest in our first cycle, and we need less than 1% of the market here to reach our initial capacity,” says Paul Charteris of SaveBOARD.
Freightways also encouraged SaveBOARD to add a washing/drying line to its production facility, a crucial component missing in many recycling facilities, resulting in recyclable – but contaminated – materials being sent to landfill. The washing/drying line is now operational after receiving funding from Callaghan Innovation.
The government has widely publicized the target of achieving zero carbon by 2050 and halving emissions by 2030.
Many players in the delivery industry have promised 100% recyclable packaging by 2025, but for Freightways, now is the time to act. The company backed its initial commitment to SaveBOARD with an additional $1.6 million to help establish the business model in Australia, and the New South Wales government subsequently provided $1.74 million in funding. Australian dollars to the business.
“With the transport and construction sectors being big contributors to carbon emissions, we wanted to invest in a solution that would impact both. We saw the huge potential of SaveBOARD early on and, with our name behind it, many other investors have followed suit,” says Freightways Managing Director Mark Troughear.
“Investing in SaveBOARD made sense for Freightways as the perfect complement to our current offering of collection and destruction services, creating a circular economy for these collections from now on – not by 2025, not by 2050.”
Recycling is not new to Freightways’ portfolio, The Information Management Group (TIMG) manages document destruction and paper recycling on a large scale, but this investment is a key step towards its goal of having zero waste products. left at the dump.
“Our investment strategy is based on increasing efficiency and creating a circular economy; we are actively looking for solutions that work with complementary waste streams, finding a way to reuse the product in a meaningful way – on a scale that creates real impact,” says Troughear.
About Freight Lanes
Freightways Limited (NZE: FRE) is New Zealand’s largest express logistics company with over 5,000 people engaged as employees and contractors handling over 100 million items a year. Freight Lane Commercial Operations in New Zealand and Australia are divided into four main portfolios: Express Package, Business Mail, Waste Renewal and Information Management. Listed on the NZX in September 2003, its brand portfolio today includes New Zealand Couriers, Post Haste Couriers, Big Chill, Dataprint, DX Mail, SUB60, Stuck, Now Couriers, Kiwi Express Couriers, Castle Parcels, Security Express, Pass The Parcel, Lit Support, Shred-X, Med-X, TIMG, Fieldair and Parceline.
SaveBOARD (SB) was founded with the sole purpose of solving the growing problem of packaging waste in Australasia and finding sustainable solutions. By implementing proven and scalable recycling technologies that transform locally collected waste into locally distributed, high-performance, low-carbon building materials. SaveBOARD is committed to being an industry leader and ending waste pollution.
The SaveBOARD product is a healthy board, made without water, without glue, without chemicals and without emitting VOCs or formaldehydes. The product’s green credentials meet all requirements under 14G of the Building Act, reducing environmental waste and up to 90% lower carbon emissions. It is also possible to recover off-cuts and end-of-life boards to be repackaged into new board products, providing a zero waste solution to landfill.
More information about SaveBOARD is available at www.saveboard.nz
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