(Credit: Antin Infrastructure Partners)Enviro Systems and Antin Infrastructure Partners, through its NextGen platform, have established a joint venture (JV) aimed at creating the world's first large-scale tire recycling group.
The JV has secured a multi-year supply agreement with Michelin for the first series of plants. The agreement includes the delivery of recovered carbon black and tire pyrolysis oil (TPO). Antin's NextGen platform will provide the initial investment and will hold the majority ownership of the JV. Enviro will own 30% of the venture and its patented technology will be licensed to the JV on an exclusive basis throughout Europe.
Michelin intends to officially join the partnership in the coming years.
In Uddevalla, Sweden, the first full-scale commercial plant will be erected with an initial capacity to recycle 34,500 tons of disposed of tires. This equates to 40% of the annual volume of end-of-life tires in Sweden. Construction on the Swedish site is set to commence later this year.
Upon the successful commissioning of the Uddevalla plant, the acceleration of the European roll-out will begin. Site selection in other European countries has already been initiated to ensure project goals are met and timelines are adhered to. Ultimately, the companies intend to establish a recycling capacity for approximately one million tons of end-of-life tires by 2030.
In Europe, the quantity of discarded end-of-life tires has been steadily increasing. Approximately 3.5 million tons are discarded on a yearly basis. Through the joint venture and with the assistance of Michelin, the partners will establish recycling facilities throughout Europe designed to manufacture sustainable raw materials.
Materials such as reclaimed carbon black and oils for reuse in the tire and petrochemical industries will be processed at the facilities. As Enviro's recycled carbon black replaces virgin carbon black, emissions are reduced by over 90% in comparison to conventional carbon black.
The ability to recycle one million tons of end-of-life tires will lead to an annual reduction of 670,000 tons of carbon dioxide emissions.
