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  • CirCon#54: $850bn in Retail Returns, 4 M&A Deals, and a Biodegradable Breakthrough

CirCon#54: $850bn in Retail Returns, 4 M&A Deals, and a Biodegradable Breakthrough

A huge thank you to HappyPorch for sponsoring this week’s newsletter!

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It’s been a busy week! Let’s get stuck in.

Industry News

Collaborations and Partnerships 🤝:

Lenovo partners with MFP to scale certified-refurbished servers. Lenovo has teamed up with MFP Technology Services to launch the Lenovo Certified Refurbished program, offering fully warranted refurbished servers through an authorised distribution network. Read more.

Highland Spring partners with Altruistiq to decarbonise operations. The multi-year deal will see Altruistiq’s emissions tracking platform measure cradle-to-gate emissions across hundreds of SKUs in real time, creating a live carbon baseline for Highland Spring’s UK operations. Read more.

Munters, NOAH & Stockholm Exergi turn industrial waste into plasterboards. By combining fly ash from power plants with salt residues from Munters’ process water, the consortium is producing clean gypsum used in new plasterboard manufacturing, and turning two waste streams into a circular construction input. Read more.

H&M partners with Circ to integrate recycled fibres. H&M Group has announced its first sourcing partnership with Circ, using regenerated fibre blends made from polycotton waste. The collaboration debuts with a v-neck fleece this year, with broader product lines set to follow in 2026. Read more.

B-Stock integrates flexible payments via Balance for B2B resale. The partnership will enable flexible payment terms on B-Stock’s B2B recommerce platform, reducing barriers for buyers and accelerating resale in secondary markets. Read more.

P&G and Lindner launch “Flexloop” to boost plastic recycling quality. The new system improves traditional recycling by removing inks, odours, and other impurities from used packaging, producing cleaner, high-grade plastic suitable for reuse in cosmetics, food, and other sensitive applications. Read more. 

Company Updates 🔎:

ThredUp: secondhand gifts set to capture 40% of holiday spending. The newly released 2025 Holiday Report reveals growing demand for resale, with nearly two in five shoppers planning to buy pre-owned gifts. Half of consumers say they’ll shop earlier and more strategically, while many plan to resell items to fund new purchases. Read more.

Greyparrot named among TIME’s Best Inventions for its AI waste analysis system. The company’s Analyser platform uses computer vision to identify and quantify materials across 111 waste categories in real time, mapping up to 99% of material flows through recycling plants. Read more.

Sims highlights circular decarbonisation and e-waste recovery in AGM agenda. The global recycling group outlined plans to expand electronics-to-metals recovery, scale circular investments, and embed low-carbon strategies across its portfolio. Read more.

Calzedonia launches “Life Re-Tights”, a closed-loop system to recycle hosiery. The new initiative collects worn tights in stores and recycles them into fresh yarn for new products. Using its innovative separation process, Calzedonia can recover and reuse materials from up to 1.6 million pairs of tights each year. Read more.

Ontic to open new maintenance, repair, and overhaul hub. Ontic is launching a 64,000-square-foot MRO facility in Tewkesbury, UK, as part of a $30 million investment in its aftermarket infrastructure. The new site will consolidate 200 specialists and deliver OEM-level repair, faster turnarounds, and expanded service capability. Read more.

G-Star expands resale arm into France, Germany, and Belgium. Dutch denim brand G-Star has rolled out its Rewear recommerce platform into France, Germany and Belgium, allowing customers to sell back used items for store credit before they are re-listed online for resale. Read more.

Regional Updates 🌎️:

US retail returns projected to hit $850 billion. The National Retail Federation forecasts $849.9 billion in returns this year, only a slight dip from 2024’s record levels. With nearly one in five online purchases sent back, pressure on reverse logistics, resale, and recovery systems remains intense. Read more.

Scottish engineers pilot biodegradable circuit boards. Working with materials firm Jiva, researchers have developed PCBs made from natural fibres and a water-soluble resin that can be broken down in hot water, allowing for the recovery of copper tracks and chips. Read more.

Georgia Tech develops collision-based method to break down plastics. The new mechanochemical process uses controlled impacts, instead of heat or solvents, to deconstruct PET back into its molecular components, paving the way for cleaner, more energy-efficient recycling. Read more.

UK metals sector raises alarm over circularity costs. The industry has warned that rising energy prices, regulatory burdens, and processing expenses are making circular practices increasingly difficult to sustain, calling for stronger policy incentives and clearer frameworks to help make recycling and reuse commercially viable. Read more.

US trade group calls to ban scrap-aluminum exports to China. A trade body representing the US aluminum industry is urging an immediate ban on exporting used beverage cans outside North America, especially to China, arguing the move would bolster domestic supply for strategic industries. Read more.

The UK’s £500 million automotive remanufacturing sector deemed a driver of green growth. A new SMMT report highlights that refurbishing components like batteries and brakes can cut raw material use by up to 88%, boosting export potential and domestic resilience. Read more.

European textile giants unite to tackle mounting waste. Twelve leading firms have formed the European Circular Textile Coalition to accelerate recycling infrastructure ahead of the EU’s 2028 Extended Producer Responsibility rules. The alliance will focus on regional textile-to-textile recycling, especially for polyester. Read more.

Australian farmers rally for Right to Repair laws. The National Farmers’ Federation is urging government action to let farmers and independent technicians repair their own machinery without voiding warranties. Advocates say current restrictions inflate costs and delay essential fixes. Read more.

Lidl GB commits £30 billion to sustainable British food and farming. The retailer’s five-year plan will strengthen ties with 650+ UK suppliers while expanding support for LEAF-certified and regenerative agriculture. The plan aims to boost local sourcing, lower emissions, and advance Lidl’s long-term sustainability goals. Read more.

Investment News

M&A 💰️:

Tradeport USA acquired by Rockton Ventures to scale reverse logistics innovation. The acquisition aims to leverage Rockton’s ecommerce and operations expertise to ramp up Tradeport’s technology, efficiency, and revenue recovery from returned inventory. Read more.

Fashionphile enters the UK market with Luxe Collective acquisition. The US luxury resale giant has acquired the assets of the recently collapsed Luxe Collective, including its IP, customer data, and social channels, marking Fashionphile’s first step into the UK and European resale scene. Read more.

Whoppah acquires Showroommodellen to expand its circular interiors marketplace. The Netherlands-based resale platform for premium interiors has acquired Showroommodellen, enabling retailers across Europe to sell showroom and display items directly on Whoppah, reaching millions of design lovers. Read more.

Northstar Recycling acquires WTS to expand industrial waste services. The acquisition strengthens Northstar’s position in industrial waste management and materials reuse across the chemical, pharmaceutical, and tech sectors. Read more.

Venture and Growth Capital 📈:

Aqua Metals raises $13 million to scale battery recycling tech. The cleantech company closed a registered direct offering and private placement to secure the fresh capital. Funds will advance its AquaRefining™ process, a closed-loop, low-emission recycling method for lithium batteries. Read more.

Before we wrap up for the weekend, why not take part in our referral scheme and share Circular Connect with someone who will benefit from it?

Have a great one and we’ll meet again on Monday!

Cheers to circularity,

#TeamCircularConnect #ConnectingTheCircularEconomy