AKER BIOMARINE LAUNCHES NEW CIRCULAR ECONOMY COMPANY
Aker BioMarine launches new circular economy company. Aker BioMarine – the biotech and Antarctic krill-harvesting company – has launched AION (Greek for ‘eternity’), a new company that will use a capital light and technology agnostic business model to offer products and services to companies with a desire to recycle waste and re-use materials.
The company stems from circular initiatives in Aker BioMarine that were focused on plastic waste and production residues. Aker BioMarine plans to scale AION in three stages. First, Aker BioMarine’s own plastic streams and biological residue will be recycled to new products, driving the company towards its zero-waste vision. Second, AION will work with companies in Aker BioMarine’s network to receive their plastic waste streams. And finally, AION’s ambition is to expand and scale to become an international leader in the evolving circularity space.
Aker BioMarine’s ambition is to spin off AION to its shareholders and separately list the company.
Large potential market
260 million tons of plastic waste is generated annually worldwide. EU has set a target of 55% recycling of plastic packaging waste within 2030. According to McKinsey, only 16% of plastic packaging waste is recycled today, but additional regulatory tightening is expected. During 2021, the technical specifications of the EU Taxonomy objective on circular economy will be defined. This is likely to create a pull in the market for recycled products. In order to reach the target of 55% recycling rate in 2030, McKinsey predicts a market size potential of USD 60 billion. In this context, Aker BioMarine sees large opportunities for AION.
“There is no such thing as waste, only resources astray. These resources need to find their way into new value chains, contributing to increased resource efficiency while creating value. AION is well positioned to play a key role in unleashing these commercial opportunities.” says Aker BioMarine’s CEO, Matts Johansen.
Digital design and innovation
AION in collaboration with Cognite, introduces CaaS, Circularity as a Service, offering a plug and play software solution ensuring traceability, resource optimization and monitoring of the most central data points for circular product management. Snøhetta will assist AION on future solutions and circularity product design through joint projects.
Solutions for global environmental problems
Aker BioMarine acquires AION, which was founded by an Aker BioMarine employee. Aker BioMarine continues to strengthen AION’s position as a company founded on solutions for global environmental challenges.
“The world faces several environmental challenges that require industrial solutions. My ambition is to establish AION as a front runner of circular business models.” says Haug Khoury, newly appointed CEO of AION.
Certified value chain and existing customers
AION has already established a value chain and is one of three Norwegian companies that has attained B-Corp certification. This certification is known as one of the most important sustainability certifications in U.S. retail. McDonald’s is already an AION customer, using serving trays made of recycled plastics from the ocean.
NorgesGruppen’s MENY has through a pilot project introduced AION carts of recycled ocean plastics in some of its stores.