Michelin, Antin and Enviro have announced that they will set up their first waste tyre recycling plant in Udvala, Sweden. The plant has started construction and is expected to be put into operation in 2025, with an initial plan to recycle 35,000 tons of used tires per year.

In March 2023, Antin and Enviro formed a joint venture to set up a number of waste tire recycling plants in Europe, with the goal of achieving a recycling capacity of 1 million tons of scrap tires per year. The first plant is initially planned to recycle 35,000 tons of used tires per year and create 40 jobs for the local community in the first phase. In addition to securing financing for plant construction, the joint venture has signed a series of multi-year contracts, including the supply of used tires, recycled carbon black and pyrolytic oil. In this context, Michelin will continue to actively support the waste tire recycling ecosystem and the long-term development of the company. Michelin has signed a multi-year supply agreement with the company for carbon black and pyrolytic oil.

It is worth noting that the number of used tires continues to increase globally, including 3.5 million tons per year in Europe. With Enviro's unique patented thermal cracking technology, waste tires will be used to produce sustainable raw materials, including carbon black and pyrolytic oils, which are recycled in tire manufacturing and the petrochemical industry. Compared with traditional carbon black, carbon emissions can be reduced by more than 90% using recycled carbon black. With the first plant in operation, the joint venture will accelerate the deployment of other plants in Europe to ensure that the technology is quickly rolled out. Antin and Enviro have agreed on a financing plan for the plant's construction.

Maude Portigliatti, Executive Director of the Michelin Group's High-tech Materials Business Line and member of the Group's Executive Committee, said: "Since becoming an Enviro shareholder in 2020, Michelin has strongly supported the joint venture between Enviro and Antin to enable the development and mature of Enviro's pyrolysis technology. With the completion of the investment plan for our first plant in Sweden, we have taken another step. In the future, we will accelerate the development of this industrial initiative in Europe, thereby contributing to Michelin's strategic goal of achieving 100% renewable and recyclable materials by 2050, while reducing the overall environmental footprint of tires."

Anand Jagannathan, Senior Partner at Antin, said: "It is a great honour to announce with Enviro and Michelin the approval of the first plant. We are excited to help create a full cycle platform that converts used tires into sustainable raw materials." This is part of Antin's NextGen strategy to enable the widespread adoption of proven technologies through large-scale investments."

Alf Blomqvist, Chairman of Enviro, said: "The plant in Udwala will be the joint venture's first large-scale waste tyre recycling plant and a key step in our joint effort to create the world's first large-scale tyre recycling business. Going forward, Enviro, together with Antin and Michelin, will play a key role in transforming the industry for a more sustainable future."

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