CEO
Message

At Biotrend, a transformation story is always at the heart of our operations. We act with the vision of turning waste back into the economy, converting it into energy, aligning our environmental responsibilities with strategic goals, and transforming our shared value approach into tangible social contributions. The year 2024 marked the transition of this transformation mindset from merely an operational approach to a strategic framework. With the motto “Transformation is in Our Nature”, we laid the foundations of our sustainability strategy. Our integrated sustainability strategy is shaped around three main pillars: From Waste to Value, From Climate to Balance, and Together for the Future.

Our From Waste to Value pillar lies at the core of Biotrend’s business model. In 2024, we produced 91,318 tons of Refuse-Derived Fuel at our facilities, recovered 13,735 tons of packaging waste, and continued to enhance our energy production efficiency. By the end of the year, our installed capacity reached 114.2 MWe, steadily progressing toward our 2030 target of 150 MWe. These activities, which strengthen the circular economy, not only protect the environment but also contribute significantly to our financial performance. Since 2022, our carbon credit revenues have reached USD 8.1 million, with over USD 800,000 generated in 2024 alone.

The From Climate to Balance pillar of our sustainability strategy translates our environmental responsibility into strategic objectives. Our 2050 net-zero target, announced in 2024, became the cornerstone of our long-term vision. As of 2024, our Scope 1 and 2 emissions totaled 951,193.5 tons CO2e, with a goal to reduce them by 23% by 2030. Our biomass plants achieved a capacity factor of 85.49%, and our biogas plants 53.95%; we aim to raise these ratios to 90% and 70%, respectively, in the coming period.

The Together for the Future pillar represents the social dimension of sustainability, reflecting our contribution from employees to society. In 2024, women accounted for 21% of our workforce, with a target of 25% by 2030. Average training per employee was 44.5 hours, and we continue to invest in increasing this by 25% in the coming years. We remain committed to reducing accident frequency and severity rates each year in line with our occupational health and safety targets.

2024 was also a year of recognition for our achievements. Our Sivas Soilless Glass Greenhouse received the “Energy is Our Future Awards” in the circular economy category at the Turkey Energy and Climate Forum. Additionally, we were named “Company Excelling in Waste Management of the Year” at the Boğaziçi Environmental Awards, reaffirming our leadership in environmental and circular economy efforts.

As a result of our determined efforts, Biotrend was included in the Borsa Istanbul Sustainability Index in Q2 2025. This achievement reflects the tangible steps we have taken at the corporate level in sustainability and signals our determination to accomplish even more in the future. We aim to continuously improve our performance and remain among the leading companies in sustainability within our sector.

The year 2024 shaped not only Biotrend’s present but also its future. Every step we take meets today’s needs while laying the foundation for a more resilient, innovative, and responsible Biotrend in tomorrow’s world. It is with great pleasure that we present our second sustainability report to you, our valued stakeholders, and I extend my gratitude to all those involved in its preparation, especially our colleagues.

Sincerely,
Özgür Umut Eroğlu
CEO

Board of Directors
Chairman’s Message

The global crises caused by climate change, rising pollution, the rapid depletion of natural resources, and pressures on ecosystems present the greatest challenges facing our world. This reality has made sustainability not just a voluntary initiative but a strategic necessity at the core of business decisions. Today, corporate responsibility goes beyond generating economic value; reducing environmental risks, increasing social benefit, and building a strong governance culture are integral components of corporate success.

With the motto “Transformation is in Our Nature”, we established our first sustainability strategy with concrete targets in environmental, social, and governance areas. This strategy serves as a roadmap that guides our long-term vision, continuously improves our performance, and clarifies the steps we will take toward 2030. Our 2050 net-zero target clearly demonstrates our commitment to combating climate change.

Being included in the Borsa Istanbul Sustainability Index in Q2 2025 confirmed that our efforts are recognized not only operationally but also at the corporate level.

Legal developments in Turkey further emphasize the importance of this effort. The Turkish Sustainability Reporting Standards (TSRS), effective as of 2024, make transparency and accountability mandatory for businesses, while the Climate Law, effective July 2025, legally enforces the country’s net-zero ambition. These developments send a clear message to the business world: sustainability is no longer just a good-will approach; it is a requirement that directly shapes capital flows, investment decisions, and competitiveness.

Biotrend does not view this new framework merely as an obligation to comply with. On the contrary, we see it as an opportunity to further integrate our inherently sustainable business model with corporate strategy. Throughout 2024, we expanded our circular-economy-focused projects in waste management and energy production operations, accelerated investments in energy efficiency, and implemented clean technologies. Through local and international partnerships, we not only reduced our environmental impact but also strengthened our capacity to generate social value.

At Biotrend, we believe that small steps lead to significant transformations. The strategic groundwork laid in 2024 addresses not only today’s requirements but also paves the way for a more resilient, responsible, and competitive company in the future. We thank our employees, partners, and all stakeholders who trust us in this critical milestone, and together, we are committed to creating a fairer, more livable, and sustainable future.

Sincerely,
İlhan Doğan
Chairman of the Board

Waste into
Value

We reintegrate resources into the economy with a circular perspective. Through circular economy solutions, carbon credits, sustainable financing, R&D, and innovation initiatives, we create value from waste.

Our Sustainability Goals:

• • Diversification of waste types disposed of and implementation of new technologies by 2035
• • Increasing installed capacity to 150 MWe by 2030
• • Recovering 118,000 tons of waste in our mechanical separation facilities by 2030
• • Producing 669,000 tons of Refuse-Derived Fuel (RDF) by 2030
• • Selling 12.8 million tons of carbon credits by 2030
• • Increasing non-electricity revenues to 14% of total revenues by 2030
• • Raising the capacity factor of biomass plants to 90% by 2030
• • Raising the capacity factor of biogas plants to 70% by 2030

Climate in
Balance

With our waste-to-energy business model, we combat climate change and reduce our operational impacts. We continuously improve our performance in reducing carbon emissions, enhancing energy efficiency, and managing water and wastewater.

Our Sustainability Goals:

• • Reducing Scope 1 and 2 emissions by 23% by 2030 (compared to 2024 baseline)
• • Achieving net zero by 2050
• • Reducing fuel consumption in work machines by 22% by 2030
• • Installing at least one rooftop solar power plant (SPP) in a facility to meet internal demand by 2028
• • Utilizing existing waste heat in power generation facilities for steam & heat sales by 2035

Together for
the Future

We build a safe, equal, and inclusive work environment while creating value for our stakeholders. We continue to advance by strengthening our efforts in occupational health and safety, inclusivity and equality, and stakeholder engagement.

Our Sustainability Goals:

• • To increase the ratio of female employees to 25% by 2030
• • To increase the total training duration per person by 25% by 2030
• • To reduce the frequency rate of lost-time accidents to below 12 by 2030 and keep it below this limit every year
• • To reduce the severity rate of accidents to below 1 by 2030 and keep it below this limit every year