Dow and Fiori Group sign MoU to develop sustainable solutions for circularity in the mobility market

Dow and Fiori Group sign MoU to develop sustainable solutions for circularity in the mobility market

This partnership allows both companies to work together along the European value chain, enlarging ecosystems to recycle materials obtained from end-of-life vehicles

MIDLAND, Mich., - June 28, 2024 - Dow (NYSE: DOW) and Fiori Group, a company that collects, stores and processes ferrous and non-ferrous materials, today announced the signing of a memorandum of understanding (MoU) to collaborate in the development of a new ecosystem for recycling end-of-life (EOL) parts and materials of vehicles.

The MoU addresses both companies' intent to handle analysis of the dismantling process and its impact on EOL waste fraction quality and suitability for recycling processes, as well as to create the new ecosystem business model under a 'test and learn' practice. Fiori Group and Dow MobilityScience™ teams will provide timely updates on experiments' results, collaborating transparently to create a valuable prototype for recycling EOL vehicle parts and materials.

"Our extensive capabilities in the reuse of metals and non-metal materials, and the sorting of different materials from end-of-life vehicles, have positioned us as a market leader for recycling in Italy," said Mauro Grotto, vice president of Italmetalli, a Fiori Group company. "Our collaboration with Dow grants us to be ranked in the forefront of seeking new solutions to reach European end-of-life vehicle recycling targets and is in line with our guiding pillars of scientific research, restoring the value of waste and communicating this value in an open and educational way".

"As two leaders committed to fostering a circular economy for polymers, plastics and polyurethanes, collaborative innovation is key to accelerating sustainable mobility," said Dr. Esther Quintanilla, Dow's global MobilityScience™ marketing director. "By joining forces with Fiori Group, we are strengthening our commitment to a sustainable future for the automotive industry through our leading materials in this key growth segment and their expertise in expanding the recycled fraction from end-of-life vehicles."

As part of its sustainability strategy, Dow is increasingly focused on new sustainable solutions including new technology for mechanical and chemical recycling from different materials that are currently considered waste. The collaboration between Dow and Fiori Group will be an automotive and mobility recycling program featuring the Dow Renuva™ portfolio of recycled materials.

With world-class technical capabilities and a diverse portfolio of materials science options, Dow MobilityScience™ pioneers innovation that drives global progress. From addressing challenges like decarbonization to enhancing EV performance, Dow remains at the forefront of advancing mobility. For further details, please visit the MobilityScience™ website.

About Dow

Dow (NYSE: DOW) is one of the world's leading materials science companies, serving customers in high-growth markets such as packaging, infrastructure, mobility and consumer applications. Our global breadth, asset integration and scale, focused innovation, leading business positions and commitment to sustainability enable us to achieve profitable growth and help deliver a sustainable future. We operate manufacturing sites in 31 countries and employ approximately 35,900 people. Dow delivered sales of approximately $45 billion in 2023. References to Dow or the Company mean Dow Inc. and its subsidiaries. Learn more about us and our ambition to be the most innovative, customer-centric, inclusive and sustainable materials science company in the world by visiting www.dow.com.

About Fiori Group

Fiori Group has been operating for around 70 years and today represents one of the main Italian companies in ferrous and non-ferrous scrap recycling sector. Always looking for technologically advanced solutions, it combines goals often seen as diverging: economic development and environmental protection. As a natural evolution of this responsible approach and constant commitment to continuous improvement, the Fiori Group has decided to adhere to the EMAS Regulation for both the Crespellano-Bologna (Italmetalli) and Rome (Italferro) plants. In addition to the 2 ELVs shredding mills, the Group operates several lines dedicated to other non-ferrous metal waste and it deploys various technologies to close the end-of-life cycle for cars. The Group has a turnover of 450 million euros and approximately 200 employees.

###

For further information, please contact:

Winnie Weng
+86 18202142810
[email protected]

Isabelle Vanderstichelen
+32-64-88-93-50
[email protected]