Antin Infrastructure Partners and Scandinavian Enviro Systems have formed a joint venture, supported by Michelin, to create the world's first large-scale tire recycling group.
Enviro's unique, patented technology, which will extract carbon black and pyrolysis oil (TPO) from end-of-life tires, will be licensed to the joint venture on an exclusive basis throughout Europe. Enviro's ownership in the joint venture will correspond to approximately 30 percent. Antin, which will be the majority owner of the joint venture, will help to enable the industrial development of this innovative recycling technology. The joint venture has secured a multi-year supply agreement with Michelin to establish its first plants.
The first full-scale commercial plant will be built in Uddevalla, Sweden, with initial capacity to recycle 34,500 tons of disposed tires, the equivalent of 40 percent of the annual volume of end-of-life tires in Sweden. Plant construction is scheduled to start in first