NEWS & Insights

Romco Q3, 2020 Report Released — Over 5000 Metric Tonnes Recycled For The First Time

“Q3, 2021 marks another stellar quarter of consistent growth for the group, with revenue reaching a record-breaking US$9.1 million, and our teams recycling over 5000 metric tonnes for the first time in our history (5257 mt — 220% Q3, 2020).”

That’s the news Romco Group CEO, Raymond Onovwigun, published in Romco’s Q3, 2021 Report released today.

Quarter 3, 2021, broke all the records. Production, revenue, assets, and inputs are all at their highest levels ever. As the global focus drew towards emissions and power usage during the buildup to COP26 in Q3, Romco were dedicated to getting practical results on the ground where it matters. It is clear that non-ferrous metals are not only the most important elements for the green transition, for projects like electric vehicles and grid expansion, but the carbon and power usage in the processing of those metals needs to be drastically cleaned up to meet our global emissions targets. Recycling is the most efficient answer to that problem. Quarter 3 results reflect Romco’s success in working towards that mission.

We’ve always known the work is vital – now we know it’s good economics.

Romco delivered a 233% increase in revenue in just twelve months, earning over the $9 million threshold for the first time. Production increased 220% from Q3, 2020, and saw over 5000 metric tonnes processed (5257mt). “I’ve said it before, but there really is much more to come. Significant opportunities in capital efficiencies, new site exploration, and trade cycle streamlining are on the horizon for Q4, 2020 and Q1, 2022.” Raymond Onovwigun said.

 

One of Romco’s values is sustainability — that growth should be supported by sustainable principles. Authentic ESG is not just about building our own business, but investing powerfully in the local economy to encourage sustainable practices in the region. Q3, 2021 saw £3,798,281 deployed to over 100 suppliers in the innovative Small Business Buying Program over the past 12 months. The initiative is a significant bid to bolster the circular economy in the regions where it lacks, building the recycling infrastructure and creating 100’s of indirect jobs.

It’s about advancing the capacity of recyclers and sustainable businesses in the region, growing together to meet the global decarbonisation challenge.

Full details of Romco’s key Q3, 2021 results can be read here online.

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