For the transition to a more circular economy,it is important to know how the cycling of resources will affect value creation of businesses (Ellen MacArthur Foundation, 2013). Key business model strategies that are identified by Bocken et al. (2016) that fit the approach of slowing and closing resource cycles are ‘Extending product value’and‘Extending resource value’. In these strategies,the residual value of products or resources is exploited by turning otherwise wasted product (parts) or materials into new forms of value.