the re.life market, the digital one the outlet market for business-to-business shopping for and promoting of recovered items, noticed over 150,000 tonnes of recyclable materials traded on the platform in 2022, value over AED 100 million. This can be a main milestone for the platform, which was launched by re.life in 2021, and a powerful indicator of the trade’s shift in the direction of extra environment friendly and sustainable methods of buying and selling recyclables.
The re.life market platform connects patrons and sellers of recyclables in a digital B2B market with a number of buying and selling choices for a clear and truthful bidding course of that meets the precise wants of patrons and sellers. Trades are doable in numerous classes of recyclables, together with ferrous and non-ferrous metals, plastic, paper, wooden, e-waste, glass and rubber. re.life market additionally checks the standard of recyclables traded on the platform and ensures fee to sellers when the transaction is accomplished. Whereas patrons are assured to be allotted high-quality recyclables, sellers are assured of getting paid. Patrons even have larger entry to on-demand materials and sellers are empowered to command truthful costs. Of the greater than 150,000 tonnes of recyclables traded on the platform to this point, metals, plastic, paper and aggregates have been probably the most traded classes.
Talking of growth, Salim Sultan Al Owais, CEO of re.life, mentioned: “The UAE is a dynamic market trying to speed up its recycling and sustainability targets, which has enabled the re.life market to succeed as a catalyst for recycling. Main UAE corporations have joined the re.life market platform as there are clear advantages of higher market visibility, larger transparency and ease of doing enterprise on the platform. On the similar time, we’re additionally accelerating the round economic system right here within the United Arab Emirates.”
The re.life CEO added that new applied sciences are informing the digital roadmap for the re.life market platform. The digital affiliation has established an workplace in India to accumulate new applied sciences, additional optimize the platform for the very best person expertise and facilitate the commerce of recyclables in rising economies. The brand new workplace in India may even allow the exploration of the huge home and worldwide commerce marketplace for recyclable supplies.
“From the start, we developed the re.life market to be simply scalable in order that we are able to impression the round economic system and commerce in recyclables not simply regionally, however regionally and globally. To be future prepared, we’re maintaining with the newest applied sciences and exploring including new options that may create a seamless expertise and create the absolute best outcomes for patrons and sellers on the platform,” added Salim Sultan Al Owais.
Presently, the re.life market has a number of buying and selling choices to satisfy the distinctive wants of each patrons and sellers. The platform has each time-limited bidding and non-bidding choices. Along with conventional bidding, the platform gives “partial bidding”, “spot promoting” and “spot shopping for”. For spot gross sales, sellers specify a cloth, its amount, and its worth. The fabric is then assigned to the purchaser who supplies proof of intent to buy. Equally, patrons can specify a cloth, a amount and a worth, with sellers having the choice to strategy them by way of the ‘purchase on sight’ buying and selling possibility. The re.life market at present has over 300 patrons and sellers of recyclables within the UAE and India.
re.life has received a number of awards for its platforms. In 2022, re.life’s disruptive impression on the recycling trade has been acknowledged by the Center East MEWAR Waste and Recycling Awards as ‘Technological Innovation of the Yr’. In 2021, BUILD awarded the re.life market as “The Finest Recyclables Buying and selling Answer”. re.life collects, one other platform from re.life, has additionally received awards for “Uberizing” the logistics trade. The platform is designed to attach enterprise house owners and customers to a vetted neighborhood of transferring and transport corporations working within the UAE and the area. re.life gather is gaining customers from companies trying to pace up shipments and deliveries, in addition to particular person customers transferring between properties. Each re.life platforms, re.life market and re.life gather, can be found for obtain on Google Play for Android gadgets and within the App Retailer for Apple gadgets.