A U T H O R Martijn Reintjes BUSINESS
‘This will speed up
our expansion’
2022 was a roller coaster year for the e-scrap
recycler which was busy rolling out a network
of collection hubs in the US. What’s more, in
July the company finalised a majority invest-
ment (75%) agreement with precious and non-
ferrous metals recycler Korea Zinc, to boost
Igneo’s global growth strategy which includes
the construction of a new furnace in Savannah,
Georgia (US) capable of processing 90 000
tonnes per year when online in early 2025. ‘We
needed a strategic partner to boost our
growth plans,’ says Igneo CEO, Danish Mir. ‘A
big player like KZ not only adds credibility and
expertise but provides a truly circular solution
that gives old metal a new life.”
IN THE FAST LANE
Then, just before Christmas, KZ also acquired
the remaining 25%. Why? ‘This step enables
them to go faster and speed up expansion. We
were initially focused on the US and Europe
but KZ has a more global approach and the
global market is what Igneo is targeting.’
Things are going faster for Igneo now – when
they were already going quite fast. The com-
pany has managed to set up four certified
hubs within 15 months.
CONTINUOUS GROWTH PATH
Igneo currently operates a metal recovery fur-
nace in northern France capable of handling
30 000 tonnes of e-scrap per year. In April,
ground-breaking will take place at the furnace
in Savannah. ‘A very exciting project that pro-
vides the US with a domestics solution for low
grade e-waste,’ says Mir.
Expansion of capacity will be realised by build-
ing a second furnace, also in Savannah, while a
third is planned ‘probably on the US west
coast’, confirms the ceo. In addition, the com-
pany will build a network of collection hubs
outside the US, mainly in Europe and Asia.
‘Don’t be surprised if we announce soon
that we are going to acquire other existing
yards.’ Danish Mir.
Electronics recycler Igneo foresees further and rapid growth of its activities
worldwide following its take-over by Korea Zinc (KZ).
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