- Scandinavian Enviro Systems and Antin Infrastructure
Partners, through its NextGen platform, announced today the
formation of a joint venture to create the world’s first
large-scale tire recycling group
- The JV plans to establish end-of-life tires recycling plants
across Europe, with a total capacity to recycle up to 1 million
tons of end-of-life tires annually by 2030. The first plant,
located in Sweden, is expected to be fully operational by
2025
- Supported by Michelin, this new innovative European player
will accelerate the circular economy in the tire industry
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Scandinavian Enviro Systems and Antin Infrastructure Partners
(Paris:ANTIN) today announced the formation of a joint venture
supported by Michelin to create the world's first large-scale tire
recycling group.
The JV will combine Enviro's unique and patented technology for
the extraction of carbon black and pyrolysis oil from end-of-life
tires with Michelin’s leading position in sustainable tires and
Antin’s expertise in developing and scaling tomorrow’s
infrastructure platforms to enable the industrial development of
this innovative recycling technology.
The JV has secured a multi-year supply agreement with Michelin
for the first plants established. The agreement with Michelin
includes delivery of recovered carbon black and tire pyrolysis oil
(TPO).
The initial investment in the JV will be funded by Antin’s
NextGen platform, which will be the majority owner of the JV.
Enviro's ownership in the joint venture will ultimately correspond
to approximately 30%. As part of the JV, Enviro's patented
technology will be licensed to the JV on an exclusive basis
throughout Europe.
Michelin is planning to partner in the JV as the plants are
built in the future.
A first plant in Sweden with an ambitious plan to create
additional recycling units in Europe
The first full-scale commercial plant will be built in
Uddevalla, Sweden, with initial capacity to recycle 34,500 tons of
disposed tires, equal to 40% of the annual volume of
end-of-life-tires in Sweden. Plant construction is scheduled to
start in the first half of 2023, subject to a final investment
decision by the JV, and the plant is expected to be fully
operational by 2025.
Following successful commissioning of the Uddevalla plant,
acceleration of the European roll-out will commence. Site selection
in other European countries has been initiated to ensure a rapid
roll-out, with an aim to build recycling capacity for up to
approximately one million tons of end-of-life tires by 2030,
corresponding to a third of all tires being disposed of in Europe
each year.
Sustained by Michelin, this new innovative European player
will accelerate the circular economy in the tire industry
The volume of disposed end-of-life tires has been steadily
growing to reach 3.5 million tons per year in Europe alone. The
joint venture between Enviro and Antin’s NextGen platform will
develop, with the support of Michelin, end-of-life tire recycling
plants throughout Europe to produce sustainable raw materials.
These include reclaimed carbon black and oils that can be reused in
the tire and petrochemical industries. By replacing virgin carbon
black with Enviro's recycled carbon black, carbon emissions can be
reduced by more than 90%, compared to using conventional carbon
black. Based on the target volume of one million tons of
end-of-life tires, carbon dioxide emissions would be reduced by
670,000 tons.
Alf Blomqvist, Chairman of Enviro, commented: “I am very
proud and pleased with today’s announcement which represents a
significant recognition of Enviro’s technological and market
leadership in recycling of tires. With Antin’s successful track
record in scaling infrastructure platforms and its strong
industrial understanding, and Michelin’s leading position in
sustainable tires, we have found excellent partners to jointly
accelerate our pan-European plant expansion and contribute to
making the tire industry circular. Enviro will now be able to focus
on our core business and competencies such as technology and
material development, optimization and quality control.”
Anand Jagannathan and Rodolphe Brumm, NextGen Partners at
Antin Infrastructure Partners, commented: “Antin is very
excited to partner with Enviro and Michelin to create the world’s
first large scale tire recycling business. Enviro's patented
pyrolysis technology and its highly experienced management team,
combined with Michelin's world leading position in sustainable
tires, makes this an ideal platform. Antin has always been at the
forefront of identifying key areas of tomorrow’s infrastructure and
we believe this JV will play a critical role in accelerating
Europe’s circular economy. We look forward to working with Enviro,
Michelin and the JV’s management team to quickly scale the JV to
its full potential."
Maude Portigliatti, Executive Vice President, High Tech
Materials – Member of the Group Executive Committee at Michelin,
commented: “Today’s announcement is a significant step in our
ambition to achieve a circular and more sustainable tire
production. This is further proof of Michelin's ability to step up
to achieve its 2050 strategic ambitions and reduce the tire's
overall environmental impact by forging innovative partnerships for
an ever more circular industry.”
About Scandinavian Enviro Systems
Scandinavian Enviro Systems contributes to enhanced
environmental and economic sustainability using a patented
technology for the recovery of valuable raw materials from scrapped
and end-of-life products, including tires. The production of new
tires using carbon black recovered with Enviro’s technology reduces
carbon dioxide emissions by up to 93 per cent compared with the use
of virgin carbon black. Enviro has its head office in Gothenburg
and a plant for the recycling of end-of-life tires in Åsensbruk.
The largest owner is the French tire manufacturer Michelin. Enviro
was founded in 2001 and is listed on Nasdaq First North Growth
Market. www.envirosystems.se
About Antin Infrastructure Partners
Antin Infrastructure Partners is a leading private equity firm
focused on infrastructure. With over €30 billion in assets under
management across its Flagship, Mid Cap and NextGen investment
strategies, Antin targets investments in the energy and
environment, telecom, transport and social infrastructure sectors.
With offices in Paris, London, New York, Singapore and Luxembourg,
Antin employs over 200 professionals dedicated to growing,
improving and transforming infrastructure businesses while
delivering long-term value to portfolio companies and investors.
Majority owned by its partners, Antin is listed on Euronext Paris
(Ticker: ANTIN – ISIN: FR0014005AL0).
About Michelin
Michelin, the leading mobility company, is dedicated to
sustainably enhancing its clients’ mobility; designing and
distributing the most suitable tires, services, and solutions for
its clients’ needs; providing digital services, maps, and guides to
help enrich trips and travels and make them unique experiences; and
developing high-technology materials that serve a variety of
industries. Headquartered in Clermont-Ferrand, France, Michelin is
present in 175 countries, has 132,200 employees and operates 67
tire production facilities which together produced around 167
million tires in 2022. (www.michelin.com)
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For further information, please contact:
Scandinavian Enviro Systems
Alf Blomqvist, Chairman Scandinavian Enviro Systems +46 733 149
700 alf@blomqvistunlimited.com
Thomas S�rensson, CEO Scandinavian Enviro Systems +46 (0)735-10
53 43 thomas.sorensson@envirosystems.se
Antin Infrastructure Partners
Nicolle Graugnard, Communication Director Email:
nicolle.graugnard@antin-ip.com
Ludmilla Binet, Head of Shareholder Relations Email:
ludmilla.binet@antin-ip.com
Antin/Brunswick Email: antinip@brunswickgroup.com Tristan
Roquet Montegon +33 (0) 6 37 00 52 57 Gabriel Jabès +33 (0) 6 40 87
08 14
Michelin Email:
groupe-michelin.service-de-presse@michelin.com MICHELIN GROUP MEDIA
RELATIONS: +33 (0) 1 45 66 22 22
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