Michelin has partnered with Enviro to industrialise tyre recycling techniques.
Enviro has developed techniques which use high temperatures to recover valuable raw materials such as carbon black, pyrolysis oil, gas and steel, with minimised energy consumption.
Michelin will use its experience to enable industrial-scale production, with patented technology breaking down organic compounds, allowing the extraction of new products not contained in the original material.
Michelin says the partnership will open new possibilities for the estimated 1bn tyres a year that reach the end of their lives.
The partnership will involve:
- A Development Agreement to deploy Enviro’s pyrolysis technology on a larger scale
- Michelin’s stake of 20% of Enviro’s capital, amounting to EUR3m (US$3.3m) or the equivalent of 116,165,223 shares, makes Michelin the largest shareholder. If approved by shareholders, the Michelin Group will have a representative on the board
- Building a new factory to industrialise the technology. The location of the plant will be confirmed at a later date
- A joint supply agreement between Michelin and Enviro
- Enviro’s pyrolysis technology will be complemented by Michelin’s background in plant construction, research, development and production
“The partnership we have just signed with Enviro fits with Michelin’s ‘All Sustainable’ vision,” said business director for high technology materials at Michelin Service and Solutions, Sonia Artinian-Fredou.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
“After the acquisition of Lehigh Technologies in 2017, a specialist in high-tech micro-powders derived from recycled tyres, this is further proof of Michelin’s long-term commitment to recycling and sustainable mobility.”
Discussions are ongoing between the two companies with the objective to conclude a final agreement by mid 2020.