A materials brokerage service has been unveiled by London Remade to try and encourage medium to long-term contracts between suppliers of recyclable materials and reprocessors.
The new service is part of the Mayor of London's Green Procurement Code, which was originally created to encourage public and private sector organisations in London to buy recycled products. The Code has secured funding from the London Development Agency for three years, with an option of a further 2 year.
The free Materials Service will match producers of recyclable waste with potential reprocessors through a database system that will show prices for the materials but keep the sources confidential. The creators also intend to create a provision for organisations with smaller volumes of material to be put in contact with each other and also bulking up facilities.
Debbie Morris, project manager at London Remade, said: “We are looking to create medium-to-long term agreements to provide security for the supplier to expand collections and to the buyer who can expand capacity.”
She stressed that London Remade would not be taking ownership of the materials, it would only be introducing companies with contracts arranged by the parties directly involved.
The Materials Service will only be available to suppliers from London, but London, British and global reprocessors will be considered. However, because the funding comes from the London Development Agency priority will be given to companies that are operating locally.
“The thinking behind this is the need for stability and the need for growth,” Ms Morris said. “I would really like to see reprocessors drawn into London because we have demonstrated that there is capacity here.”
London Remade is now looking for reprocessors, bulking up facilities and other organisations interested in using the service. London Remade hopes to use the database to publish local materials prices. Although reprocessors' prices will be used to create public indices, the names of the companies will be kept confidential.
Hugh Carr-Harris, chief executive of London Remade, said: “The one thing I really like about the Mayor's Procurement Code is the level of trust. This only works with a level of trust.”
Ms Morris said that the new service was different to conventional waste exchanges because it deals with materials that need reprocessing. London Remade is looking to provide training and help negotiate contracts as well as providing the matches.
“All in all I think this is a package that differs from other services,” she said, “This goes a little bit further than those operations.”