(CercleFinance.com) – Michelin announces the construction of ‘the first end-of-life tire recycling plant in Sweden’, in collaboration with Antin – majority shareholder of the joint venture – and Enviro – which has an option to become one a ‘significant minority shareholder’.
Located in Uddevalla, the project leverages Enviro’s unique pyrolysis technology, which extracts raw materials from composite products.
This first plant will have a recycling capacity of around 35,000 tonnes of end-of-life tires per year and will create up to 40 jobs in the local community.
Michelin reports that the joint venture has already obtained a series of multi-year contracts for the supply of end-of-life tires, carbon black and pyrolysis oil from recycling.
Construction of the site has already started and the plant is expected to be operational in 2025.