Origo Partners Invests in Chinese Tyre Recycling Company
Investment house Origo Partners Plc paid US$6.65 million for a 20 per cent equity stake in Jinan Eco-Energy Technology Co. Ltd on 25 June. Jinan Eco-Energy, a Chinese waste plastic and scrap-tyre recycling systems provider, designs, develops, markets and operates pyrolisis-type recycling systems that convert scrap tyres into fuel oils and other by-products. According to Origo, the company benefits from proprietary technologies that are either protected by international patents or have patents pending and an experienced management team with significant industry and technical experience. Eco-Energy's systems are provided as turn-key solutions to third party project developers or operated in joint-ventures with selected local partners.
Eco-Energy's technology is already successfully deployed in a commercial scale recycling plant in Taiwan with a processing capacity of 20,000 tonnes of scrap tyres per annum, and the company reportedly has orders from customers in Europe, South East Asia, and China for the delivery in 2010/11 of recycling systems with an aggregate annual processing capacity of 90,000 tonnes of tyre and plastic residue. In addition, Jinan Eco-Energy is said to be co-developing two plants with joint venture partners in China and Germany with an initial aggregate annual production capacity of 30,000 tonnes per annum.