Michelin and Enviro Partner To Co-develop Tyre Recycling Tech
Published On 2020-04-15 20:30:37 627 views
The tire maker has partnered with Sweden-based Enviro to develop innovative technology to transform used tires into raw materials
Swedish start-up of 20 employees founded in 2001, Enviro developed a technology to modify the chemical composition and physical phase of the pneumatic material during the pyrolysis process, while ensuring minimal energy consumption.
This highly innovative technology enables to produce high-quality products such as recovered carbon black, pyrolysis oil, steel or gas, products that can then be re-incorporated into the production circuit of different industrial sectors. Thanks to this recycling technology, tires that are now considered as waste will be recycled into raw materials.
Each year, about 1 billion tires reach the end of their life. Thanks to this recycling technology, tires considered as used give birth to new quality raw materials.
Michelin says the envisioned partnership with Enviro is based on four axes: –
- A development agreement to deploy Enviro’s pyrolysis technology on a larger scale.
- Michelin will buy 20 percent stake in Enviro’s capital, amounting to 32,526,262 SEK (Rs 25 crore), or the equivalent of 116,165,223 shares, making Michelin the largest shareholder.
- The Group will support developing Enviro by its board representation expected to be proposed to the shareholder vote. The shareholding subscription has been signed on April 15.
- The common project to build a factory to industrialise the technology, for which the plant location will be confirmed at a later date.
- A joint supply agreement between Michelin and Enviro.
Michelin says the partnership will allow the complementary know-how of the two companies to be pooled in order to accelerate progress in tire recycling. Michelin will bring its industrial know-how to the plant’s construction project and its know-how in terms of research and development and production. Enviro will bring its patented pyrolysis technology, which will produce high-quality products.
Sonia Artinian-Fredou, Services and Solutions, High Technology Materials Business Director, Michelin said: “The partnership we have just signed with Enviro fits perfectly with Michelin’s ‘All Sustainable’ vision. After the acquisition of Lehigh Technologies in 2017, a specialist in high-tech micro-powders derived from recycled tyres, this is a further proof of Michelin’s long-term commitment to recycling and sustainable mobility.”
Michelin says the discussions are ongoing between the two companies with the objective to conclude a final agreement by mid-2020.