Tyre recycling expert Scandinavian Enviro Systems (Enviro) and French tyre manufacturing giant Michelin have recently come into a strategic partnership which includes the establishment of a jointly-owned recycling plant for end-of-life tyres, a supply agreement, and other joint development work to expand the possibilities for materials that are recycled using Enviro’s proprietary technology.
Additionally, the partnership will reportedly entail Michelin’s stake of more than 20% of Enviro’s capital(through its wholly-owned subsidiary Michelin Ventures SAS), amounting to SEK32.5 million (nearly US$3.23 million). Michelin will also support developing Enviro by its board representation expected to be proposed to the shareholder vote; the shareholding subscription has been signed on April 15th.Discussions are currently ongoing between the two companies with the objective to conclude a final agreement by mid-2020.
Michelin’s High Technology Materials Business Director, Sonia Artinian-Fredou, said the long-term partnership with Enviro “fits perfectly with Michelin’s “All Sustainable” vision” and is further proof of Michelin’s long-term commitment to recycling and sustainable mobility.
Enviro developed a highly innovate technology back in 2001 to modify the chemical composition and physical phase of end-of-life tyres during the pyrolysis process while ensuring minimal energy consumption. This technology is able to produce high-quality products such as recovered carbon black, pyrolysis oil, and steel or gas, as well as products that can then be re-incorporated into the production circuit of different industrial sectors.
According to Michelin, the partnership will allow the company to bring its industrial and related know-how to the new construction project while Enviro will produce high-quality products with its patented pyrolysis technology.