RED SPRINGS Ltd. successfully secured funding for a project under the procedure “Support for the Transition to a Circular Economy in Enterprises” within the National Recovery and Resilience Plan.

RED SPRINGS Ltd. successfully secured funding for a project under the procedure “Support for the Transition to a Circular Economy in Enterprises” within the National Recovery and Resilience Plan.

The main objective of the project is to accelerate the company’s transition to a circular economy by introducing circular models through the implementation of technologies for efficient resource use, extending the life cycle of products, and minimizing the amount of waste generated as well as the use of raw materials and resources.

The specific objectives of the project are related to optimizing production costs by reducing the quantity of resources used per unit of output and the amount of waste generated, increasing the efficiency of the production process and resource efficiency, and improving the company’s resilience to fluctuations in raw material and resource prices. Achieving the project objectives will lead to a lasting and sustainable increase in the competitiveness of RED SPRINGS Ltd. through a transformation from a linear to a circular business model, while at the same time contributing to the restoration of natural systems by limiting waste generation and excessive resource consumption.

The total value of the project amounts to BGN 2,857,000.00, of which BGN 999,950.00 is funded by the European Union under NextGenerationEU.