Tire recycling project continues to advance
In February and May 2024, Enviro announced that it had received two payments of approximately US$4.9 million (RMB 35.53 million) and US$5 million (RMB 36.08 million) from its joint venture partners to cover part of the cost of building a full-scale recycling plant in Uddevalla, Sweden.
A year later, the company announced the progress of the Uddevalla plant in Sweden, which is expected to be put into use this year.
The waste tire carbon black project continues to advance
It is reported that the Infiniteria joint venture, a joint venture between Scandinavian-based Enviro Systems (Enviro), Antin's NextGen Fund and Michelin, has advanced the construction of its waste tire pyrolysis plant in Uddevalla.
Enviro, which is responsible for project management and coordination, as well as technical supply, said that the project "is progressing well in civil engineering and construction, and is ready to install production equipment." The construction of the plant responsible for production began in February. As of March 19, the plant has been carrying out important external construction and pipe rack installation. The crane installation of production equipment, including the reactors required for thermal cracking, is expected to begin in March or early April.
It is reported that the planned capacity of the facility is to recycle 34.5 thousand tons of waste tires per year - this is equivalent to recycling 40% of Sweden's waste tires each year.
According to Enviro's current execution progress, the project is expected to be put into operation this year. Enviro said it has signed a long-term binding agreement to deliver 2 billion Swedish kronor (1.335 billion yuan) worth of recycled carbon black and oil from the plant.
Recyclable carbon black Enviro
The Infiniteria JV mentioned above was established in March 2023. Although the construction news of the project has been released by Enviro, the joint venture has a high voice in the project established in March 2023 because the other partners invested in the form of 50% shares.
Two investments of nearly 10 million US dollars in 2024 are aimed at ensuring that Enviro can achieve the environmental protection goals set at the beginning - by 2030, waste tire pyrolysis plants will be built across Europe with a total processing capacity of 1 million metric tons.
The use of these waste tires will help tire companies fulfill their sustainable commitments in 2030 and 2050. As one of the joint venture parties, Michelin's recycling project with Enviro is not the first project it has participated in in practicing sustainable development.
Michelin led the carbon black recycling project BlackCycle in 2020 - in 2024, the project won the "Annual Environmental Achievement-Industry Contribution Award" in the "2024 International Tire Technology Innovation and Excellence Award".
The waste tire pyrolysis joint venture project between Enviro Systems A.B. and tire giant Michelin is another tire recycling project that can be regarded as a benchmark project.
