Tyre recycler Scandinavian Enviro Systems says it has signed a letter of intent with an undisclosed party regarding the potential licensing of Enviro’s proprietary technology for the establishment of one or several tyre pyrolysis plants in North America.
Under the letter of intent, the parties intend to conduct a study to assess the commercial and technical viability of one or several End-of-Life Tyre (ELT) pyrolysis facility based on Enviro’s technology. The purpose of the study is to provide a basis for the prospective licensee to evaluate the conditions for a potential long-term commercial collaboration and technology licensing agreement.
It adds that any future agreements are subject to the outcome of the study and subsequent negotiations between the parties. “There can be no assurance that the study will result in any binding agreements or that a transaction will be completed,” said Enviro.
“We continue to see strong international interest in Enviro’s technology and this letter of intent is yet another proof of this”, says Fredrik Aaben, CEO of Scandinavian Enviro Systems.