Thesis
Electronic waste is a growing environmental challenge globally. According to the UN, 54m tonnes of e-waste was produced globally in 2019, and 83% of this was not recycled sustainably, typically ending up in landfill (where it can be extremely toxic). The U.K. alone generated 1.5m tonnes of e-waste – equivalent to 55kg per household, the second highest total in Europe.
At the same time, the IT lifecycle means there is growing demand from corporates for secure, sustainable IT asset disposal. By reusing or recycling computers, we can not only avert this damage but also preserve and create economic value: relative to landfill or incinerator disposal, a more sustainable approach could create an estimated 296 more jobs annually (for every 10,000 tonnes of computer waste processed).
Investment
Tier 1 is a pioneering circular economy business that specialises in IT asset disposal (ITAD), IT refurbishment and the reselling of used IT hardware. Based in Manchester, the company works with corporate clients to safely and securely dispose of their end-of-life IT equipment. It then refurbishes these assets and re-sells them both through its own online channel and via third party IT resellers. Any assets that cannot be resold are broken up for recycling. As well as reducing e-waste, this also provides customers with a compelling alternative to buying new IT equipment, both from a price and sustainability perspective.
Outcomes
Tier 1’s differentiated market position and focus on quality means it is well placed to benefit from the further growth of this sector over the next decade. The company also has a strong social value focus, evident in its exclusive partnership with the charity ComputerAid, which works to broaden access to technology in developing markets, and its programme with the charity Antz Junction, which provides work experience and support to prisoners ‘through the gate’ (for which the company received a Queens Award for Enterprise in 2019).
