The French group Suez, a company specializing in waste treatment, has acquired 20% of The Future is Neutral, Renault’s division focused on circular economy and the recovery of end-of-life vehicles, with the French group retaining the remaining 80% of the capital.
The two companies will inject around €140 million into this venture to “accelerate and develop their activities”.
“By investing in The Future Is Neutral alongside the Renault Group, Suez is positioning itself more strongly to support stakeholders in the automotive industry in their ecological transition. Ensuring the supply of secondary raw materials is one of the main challenges that the automotive sector must face in the coming years. Our experience in recycling and waste recovery will allow us to support the transformation of the sector as it moves towards greater circularity and reduces its dependence on virgin raw materials”, said Sabrina Soussan, President and CEO of Suez.
Renault, which did not specify how much Suez paid to acquire 20% of The Future is Neutral, ensured that its goal is to position the company “as a key player in the circular economy of the automotive sector”.
“Our joint investment will allow us to accelerate the offering of an open circular economy platform that meets the needs of all stakeholders in the automotive industry, in growing activities. We are doing this by strengthening existing operations and creating new closed-loop recycling solutions, from car to car”, explained the CEO of the Renault Group, Luca de Meo.
