Its Fair Meter concept was developed with five main challenges of the electronics industry in mind. This wholesome approach involves implementing a three-tier sustainability strategy focused on internal processes, supply chain requirements, and raising awareness in the industry.
The principles and practices of circular economy are included in products and company processes. In tandem with this, there is a focus on “driving change” with both, suppliers and customers alike. By introducing a fully transparent supply chain, Iskraemeco will be able to plan its progression and support its suppliers’ development through utilising recycled materials and component production.
Their product, the AM550 meter, developed in line with the Fair Meter principle, is lighter, smaller, and more energy efficient. The Fair Meter is made of 20% less electronics, 30% less plastic and 40% less metals. The packaging has been minimised in size and consequently has a minimum negative impact on the environment. Updatable, upgradable, modular, the meter is made with lean production that produces minimal waste, whereas its life-cycle is 20 years and can then be recycled.
The Fair Meter concept received the national Golden Innovation Award at the Chamber of commerce and Industry of Slovenia’s in 2018.