Pearl Global appoints CEO

Australian waste tyre processor Pearl Global Limited, a firm claiming to possess a proprietary technology superior to traditional pyrolysis, has appointed a new chief executive officer. David Wheeley will commence in this capacity on 1 February 2022.

The company says Wheeley’s appointment and that of non-executive chairman Mike Barry in August form part a wider renewal of Pearl Global’s board and management, a measure being carried out in order to “significantly improve operational performance” at its rubber thermal treatment plant in Stapylton, Queensland as well as to “seek opportunities for further profitable growth.”

“Mr Wheeley has deep experience in the resource recovery sector and brings to the company solid operational skills and disciplines,” comments Mike Barry.

Unique thermal desorption technology

Pearl Global collects and processes end-of-life tyres using a unique patented thermal desorption technology that enables the clean conversion of waste tyres to fuel oil, recovered carbon black and steel. Thanks to its acquisition of Western Australia-based firm Keshei Technologies Pty Ltd. on 3 December 2021, Pearl now owns the intellectual property relating to this technology.

The company currently processes around 3,500 tonnes of tyres a year and is building up capacity to process 10,000 tonnes annually through its thermal desorption units. At full capacity, crumbing activities will drive the processing of up to an additional 7,000 tonnes a year.

David Wheeley’s appointment comes at a time when Pearl is seeking to raise additional funds to support growth and improvement initiatives, including maximising utilisation of the Stapylton site as well as expanding from this base. In a presentation published this month, Pearl also expresses the hope that the raised capital will provide “a pathway to site profitability.” The company will conduct a pro rata non-renounceable entitlement offer on 22 December to raise approximately AU$5 million for these purposes.