Definitions

1. noun

The process or state of renewing or making new

“The renewal of the contract was a significant moment for the company, marking a new period of renewment in its business strategy.”

2. noun

A period of renewal or revival, often following a period of decline or stagnation

“After years of decline, the city experienced a period of renewment, with new businesses and residents revitalizing its downtown area.”

3. verb

To renew or make new, especially in a physical or material sense

“The company will renewment their equipment to make it more energy-efficient and reduce waste.”