(AOF) – The Antin Infrastructure Partners investment fund has created a joint venture with Scandinavian Enviro Systems, a Swedish recycling specialist, to become “the first industrial-scale tire recycling group in the world”. Supported by Michelin, this new European player will “accelerate the transition to the circular economy of the tire industry”. The joint venture plans to set up several factories in Europe, making it possible to recycle up to 1 million tonnes of end-of-life tires per year by 2030.
The first plant, located in Sweden, is expected to be fully operational by 2025.
The joint venture will rely on Enviro’s exclusive and patented technology for extracting carbon black and pyrolysis oil from used tires, and on Michelin’s leadership as a manufacturer of sustainable tires. Antin will bring its expertise in the development of sustainable infrastructure.
The joint venture has entered into a multi-year supply agreement with Michelin for the first plants, which provides for the supply of reclaimed carbon black and pyrolysis oil from tires.