Riding the Heavy-Asset Cycle, YDDL Accelerates the Buildout of a Cross-Continental Feedstock Supply Network
In February this year, Goldman Sachs published a strategy report formally introducing the “HALO Effect” framework—Heavy Assets, Low Obsolescence. The report argues that, as AI infrastructure buildout accelerates and geopolitical forces drive supply-chain reconfiguration, global capital is increasingly rotating away from asset-light technology models and toward businesses backed by physical barriers to entry and tangible assets that are difficult to disrupt technologically. Power infrastructure, industrial capacity, and resource networks are becoming central themes in the next cycle of market attention.
The recycled metals industry is, in many ways, a textbook example of this framework in action.
Copper is a foundational raw material for AI data centers, grid expansion, and the new energy value chain. Mine expansion cycles often take more than a decade, leaving very limited short-term supply elasticity. At the same time, the Asia-Pacific region consumes nearly 40% of global copper output, and the regional supply-demand gap continues to widen. Against this backdrop, recycling companies capable of consistently supplying high-quality recycled copper are filling the gap that mines cannot quickly address. Their strategic value aligns closely with the “scarcity premium of physical assets” described in the HALO framework.
Core Positioning
$One and one Green(YDDL)$ is currently the only licensed recycled metals company in the Philippines legally permitted to import and process hazardous waste streams. This regulatory license is not easily obtained; it represents a market barrier that is difficult to replicate in the short term and serves as one of the Company’s core strategic assets in Southeast Asia. Its San Rafael facility uses advanced automation technologies to systematically recover valuable metals such as copper, aluminum, gold, and silver from electronic waste. Combining heavy-asset characteristics with low obsolescence, the Company closely fits the type of business highlighted by the HALO framework.
Two Cross-Continental Supply Agreements
In early February, the Company signed a purchase order with an industrial materials supplier in Osaka, Japan, covering up to 16,000 metric tons of electronic and metal scrap, with a total contract value of approximately $17 million. Japanese electronic scrap is known for its high metal purity and consistent composition. Access to Japan’s supply channel itself reflects a high level of processing capability and compliance recognition, serving as a direct validation of the Company’s technical strength.
In mid-February, the Company further announced a supply agreement with Recuperaciones Hermanos Huang S.L., an e-waste recycler based in Madrid, Spain, establishing its first sourcing channel in Europe. The first shipment is expected to be transported from Europe to the Philippines. Europe is widely recognized as one of the highest-quality sources of electronic scrap globally, and the European Union’s 2030 packaging waste recycling targets continue to drive demand for compliant disposal solutions. The establishment of this agreement marks $One and one Green(YDDL)$ ’s formal entry into Europe as part of its global feedstock sourcing network.
From a previously Asia-Pacific-focused procurement base to the successful rollout of channels in Japan and Europe, the Company’s supply chain is expanding across broader geographies and toward higher-quality feedstock sources. Supply chain diversification is a core capability for recycled metals companies seeking to withstand feedstock price volatility and maintain stable output. $One and one Green(YDDL)$ ’s strategic objective is to become an important bridge linking premium scrap supply from Europe with metal demand across Asia-Pacific.
Outlook
The fulfillment timeline of the Japanese order remains dependent on the completion of the counterparty’s export permits, while the European channel is still at an early stage of development. Whether this supply-chain expansion can translate into sustained earnings growth will need to be validated by operating results in the coming quarters. The Company will continue to provide transparent updates to shareholders and the market as developments unfold.
At a time when heavy assets and scarce resources are regaining market recognition, $One and one Green(YDDL)$ ’s sector positioning, regulatory licenses, and emerging global supply chain network are increasingly resonating with the industrial logic of this new era.
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