Michelin to invest in Pyrowave plastics recycling to produce synthetic rubber

Renowned tyre manufacturer Michelin has chosen to support recycling company Pyrowave for its world-leading technology allowing infinite recycling of plastics. The Pyrowave technology is able to produce recycled styrene monomer from plastic waste to be later integrated into the production of synthetic rubber, a major component found in tyres.

Thanks to Michelin, and other investors, Pyrowave is set to bring their“unique modular technology” to market and provide a viable and sustainable solution in the fight against plastic waste: “This investment marks a turning point in the circular economy of plastics, and the support from Michelin sends the signal that the market is ready to implement these solutions,”said Jocelyn Doucet, CEO of Pyrowave.

Pyrowave uses a proprietary modular microwave-based technology to disrupt plastic recycling. While traditional recycling technologies limit the market applications of recycled plastics – contamination or plastic degradation during the process reduces its quality and potential for applications – Pyrowave’s new recycling technology decomposes the complex chemical structure of plastics back into a simpler form that can be used to make virgin plastics and other products in multiple applications.

According to Joško Bobanovi?, Partner at Sofinnova Partners,a leading European life sciences venture capital firm, investing in sustainable chemistry and biotechnology, Pyrowave’s “unique, game-changing technology brings an immediate answer to plastic waste with a solid, scalable solution” and is aligned with Sofinnova Partners’ support for exceptional entrepreneurs who “deliver sustainable solutions to solve immediate societal, ecological and business challenges.”

Matthieu van der Elst from Michelin Ventures similarly said that the investment represents “[…] a concrete illustration of our venture capital strategy, which aims to support the most innovative companies, with strong growth potential, and focusing on the relevant domains for our businesses.

“Alongside our current portfolio and our outstanding R&D, this investment strengthens the Michelin’s position as a referent in the field of high technology sustainable materials,” he added.