TOMRA appointed as one of the two reverse vending technology suppliers to MOL Group for the upcoming deposit return system in Hungary
TOMRA has today signed the letter of intent from MOL Group appointing TOMRA as one of the two technology providers for the country’s upcoming deposit return system (DRS) for beverage container recycling, set to launch on 1 January 2024.
TOMRA will provide reverse vending machines for the return of PET bottles, glass bottles and cans across Hungary. MOL Group will be the central system administrator for Hungary’s future DRS. TOMRA will supply between 1,440 and 1,900 high-volume systems, amounting to between 2,000 and 2,500 reverse vending machines for medium and large collection points such as supermarkets and hypermarkets in urban settings.
“It is a pleasure to be appointed by MOL Group to such an integral role in the upcoming deposit return system, and work together to help the country take bold steps toward circularity,” said Tove Andersen, President & CEO of TOMRA. “TOMRA has a strong and competent European organization with solid local experience in delivering attractive and reliable return solutions, which have been embraced by consumers and contribute to high container return rates.”
About TOMRA Collection:
TOMRA Collection provides reverse vending machines for Clean Loop Recycling, to transform society’s habits and keep valuable resources in a continuous loop of use and reuse. The company’s solutions collect aluminum, plastic, and glass beverage containers to be continually reused and recycled back into new bottles and cans. TOMRA has established a local entity in Hungary, bringing 50 years of experience with deposit return systems, with more than 80,000 installations across more than 60 markets, collecting more than 45 billion used bottles and cans each year. This reduces reliance on raw materials, and ensures fewer containers end up in our streets, oceans, and landfills. TOMRA’s reverse vending machines, digital solutions and service make recycling easy for the industry, system owners, retailers, and consumers to contribute to a more sustainable planet. TOMRA has worked in roles across every part of the DRS value chain, including material pick-up, PET processing and data management.
About MOL Group:
MOL Group is an international, integrated oil, gas, petrochemicals, and consumer retail company, headquartered in Budapest, Hungary. It is active in over 30 countries with a dynamic international workforce of 25,000 people and a track record of more than 100 years. MOL is committed to transform its traditional fossil-fuel-based operations into a low-carbon, sustainable business model and aspires to become net carbon neutral by 2050 while shaping the low-carbon circular economy in Central-and Eastern Europe. MOL also wants to play a key role in shaping the low-carbon circular economy with investments in new businesses such as waste integration and utilization, recycling, carbon capture, utilization, and storage (CCUS), advanced biofuels and potentially hydrogen-related opportunities. In the next five years, MOL will spend USD 1bn on new, low-carbon and sustainable projects to become a key player in CEE in the circular economy.
As a milestone of this transformation last year MOL was announced as a winner for the Hungarian state concession tender covering municipal waste management services. The concession agreement covers a period of 35 years with a commencement date of July 1, 2023. As part of the concession, MOL has to set-up and operate from 1 January 2024 the deposit refund system, as well.
TOMRA Systems ASA
Asker, 11 November 2022
For further inquiries, please contact:
Eva Sagemo, CFO +47 934 39 911
Georgiana Radulescu, VP Head of IR +47 941 01 643
**This information is considered to be inside information pursuant to the EU Market Abuse Regulation (EU) No 596/2014 and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.