The vision of RECLAIM is to demonstrate technologies and strategies to support a new paradigm for refurbishment and re-manufacturing of large industrial equipment in factories, paving the way to a circular economy. Its ultimate goal is to save valuable resources by reusing equipment instead of discarding them. RECLAIM will support legacy industrial infrastructures with advanced technological solutions with built-in capabilities for in-situ repair, self-assessment and optimal re-use strategies. It will establish new concepts and strategies for repair and equipment upgrade and factory layouts’ redesign in order to gain economic benefits to the manufacturing sector. The technological core of RECLAIM is a novel Decision Support Framework that guides the optimal refurbishment and re-manufacturing of electromechanical machines and robotics systems. The framework uses IoT sensors, novel prediction, and process optimisation techniques to offer machine lifetime extension and thus increased productivity. Innovative fog computing and augmented reality techniques are combined with enhanced health monitoring and failure inspection and diagnosis methodologies that enhance the effective use of materials, improve maintenance capabilities and eventually, drastically increase the return of investments (ROI). RECLAIM re-use approach also fosters servicing and upgrading of legacy equipment. For that, European machinery industry will move from an equipment-based business to a value-added business, where equipment servicing and equipment knowledge are main business drivers. RECLAIM solution will be demonstrated in five real industrial environments to evaluate the lifecycle of the industrial equipment and show the feasibility of the approach for integration and scale-up to other industrial sectors. Having RECLAIM technology available, drastically increased efficiency, lifetime extension and high economic benefit will be achieved and a significant step towards 100% re-use will be made.