£2m Investment For Tyre Recycler

The Tees Valley Industrial Programme (TVIP) is a £60 million investment fund that was established to accelerate job opportunities and business development in the Tees Valley region of the UK. A grant of £2 million from TVIP has been earmarked for PYReco; a new company based in Wilton. The grant will help fund the development of a new processing plant to recover carbon black, oil and steel from waste tyres and rubber. It is expected that the finished project will employ 52 staff, plus 240 new construction jobs will be created over the next five years.