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upcycling

upcycling
 n.— «The final segment introduced me to a new word, “upcycling.” This is taking something that has outlived its useful life and finding a new and more important use for it. Architect David Hertz explains that a Boeing 747 when new costs tens of millions of dollars, but when it has outlived its airworthiness it is just a pile of scrap.…David takes us on the ultimate 747 adventure—he turns one into a house! Now that is what I call upcycling!» —“TV Review: Big Ideas For A Small Planet: Create” by Simon Barrett Blogcritics June 5, 2007. (source: Double-Tongued Dictionary)

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