Michelin is partnering with Enviro to develop and industrialize on a large scale an innovative pyrolysis technology to recycle tires at the end of their life. Enviro has developed a technology to modify the chemical composition and physical phase of the tires during the pyrolysis process, while ensuring minimal energy consumption.
Technology to Produce Recovered Carbon Black
This highly innovative technology enables to produce high-quality products such as recovered carbon black, pyrolysis oil, steel or gas, products that can then be re-incorporated into the production circuit of different industrial sectors. With this recycling technology, tires that are now considered as waste will be recycled into raw materials.
The Partnership between Michelin and Enviro:
- A Development Agreement to deploy Enviro's pyrolysis technology on a larger scale
- Michelin's stake of +20% of Enviro's capital, amounting to 32,526,262 SEK (around 3 million €), or the equivalent of 116,165,223 shares, making Michelin the largest shareholder. The Group will support developing Enviro by its board representation expected to be proposed to the shareholder vote. The shareholding subscription has been signed on April 15th.
- The common project to build a factory to industrialize the technology. The location of the plant will be confirmed at a later date.
- A joint Supply Agreement between Michelin and Enviro.
This partnership will allow the complementary know-how of the two companies to be pooled in order to accelerate progress in tire recycling. Michelin will bring its industrial know-how to the plant's construction project and its know-how in terms of research and development and production. Enviro will bring its patented pyrolysis technology, which will produce high-quality products.
Discussions are ongoing between the two companies with the objective to conclude a final agreement by mid-2020.
Source: Michelin