industrial symbiosis
Industrial symbiosis is a collaborative approach where different industries work together to use each other's by-products, resources, and energy. This process helps reduce waste and improve efficiency by turning what would be discarded into valuable inputs for other processes. For example, the waste heat from one factory can be used to power another, minimizing energy consumption.
This concept promotes sustainability and economic benefits by creating a circular economy. By sharing resources, companies can lower costs, reduce environmental impact, and foster innovation. Industrial symbiosis is often seen in eco-industrial parks, where multiple businesses are located close to each other to facilitate these exchanges.