Food
Michelin has announced entering a new partnership with Swedish start-up Enviro, to introduce a new technology to recycle end-of-life tires. Under the new partnership, the companies will work towards industrializing an innovative pyrolysis technology on a large scale to recycle old tires and convert them into raw materials. Currently, recycling is a major issue with tires, and each year, about 1 billion tires reach the end of their life and are discarded as waste. But this new recycling technology will bring them back into the equation.
The process involves a new technique developed by Enviro that modifies the chemical composition and physical phase of the pneumatic material (tires) during the pyrolysis process while ensuring minimal energy consumption. Simply put, this technology will allow the companies to extract high-quality raw materials such as – recovered carbon black, pyrolysis oil, steel or gas from old tires. These raw materials can then be re-incorporated into various other production circuits in different industrial sectors.
The new partnership will see both the companies bring in their expertise from different fields to deploy Enviro’s pyrolysis technology on a larger scale and build a factory to industrialize the technology. Michelin will use its industrial know-how in terms of research and development and production for the construction of the new plant, while Enviro will bring its patented pyrolysis technology, which will produce high-quality products. The location of the plant will be confirmed at a later date.
Michelin currently holds 20 percent stake of Enviro’s capital, amounting to 32.5 million SEK or ₹ 247.4 crore, as per the current exchange rate, making it the largest shareholder in the company. There is also a joint Supply Agreement between Michelin and Enviro. Michelin says that this partnership reiterates the company’s long-term commitment to recycling and sustainable mobility.
