Tire Source Pixabay
The new tire recycling campaign Michelin. Scandinavian Enviro Systems e Antin Infrastructure Partners part, thanks to the collaboration of Michelin. Thus he gives life to the first group in the world dedicated to the recycling of tires on a large scale.
The joint venture uses patented technologies from Enviro for the extraction of carbon black. And pyrolysis oil from tires at the end of their life. Michelin’s leadership position in sustainable tires. It favors the industrial development of innovative technologies to support recycling. The collaboration secures a multi-year supply agreement with Michelin. This deal includes the delivery of carbon black and pyrolysis oil for salvaged tires.
The joint venture investment is financed by Antin’s NextGen
The initial investment of the joint venture funded by the platform NextGen di Antin. This majority holder in the joint venture itself. The participation of Enviro corresponds to about 30% of the shares. While Enviro’s patented technology will be exclusively licensed to the joint venture across Europe.
Tire Source Pixabay
Michelin is planning to participate in the venture also in the plants that will be built in the future. The first large-scale commercial plant built in Uddevalla, Sweden, will have an initial recycling capacity of 34,500 tonnes of tires for disposal, which is equivalent to 40% of Sweden’s annual end-of-life tire volume. The construction of the plant will start in the first half of 2023, however remaining subject to the final investment decision of the joint venture.
The plant is expected to be fully operational by 2025. Site selection in other European countries has already started to ensure rapid implementation. The goal is to reach a recycling capacity of up to around one million tonnes of end-of-life tires by 2030, corresponding to one third of all tires disposed of annually in Europe.