Scandinavian Enviro Systems Archives - Page 2 of 4 - Tyrepress

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Michelin remains top Enviro shareholder after issue

With the assistance of Monitor via Modular Finance, Scandinavian Enviro Systems (Enviro) has prepared a register of the company’s 15 largest owners as of 30 June 2023. Following the announcement of a cooperation agreement with Antin in March and a directed share issue in May, new Enviro shareholders include Handelsbanken Fonder, Swedbank Robur Fonder and Skandia Fonder. Michelin did not participate in the issue, but although it no longer has a 20 per cent stake in Enviro, it remains the largest shareholder by a considerable margin with 16.28 per cent.

1st August 2023/by Stephen

Gaboriaud named Michelin representative on Enviro board

Fabien Gaboriaud is Michelin’s new representative on the Scandinavian Enviro Systems (Enviro) board. Gaboriaud, who is senior vice president Sustainable Materials and Circularity at Michelin, expresses pride in his new assignment and considers his appointment to the board evidence of the tyre maker’s very strong commitment to Enviro.

20th July 2023/by Stephen

Enviro share issue funding JV, operations

Scandinavian Enviro Systems has raised SEK 300 million (£23.4 million) via a directed share issue and intends to use 75% of this to acquire shares in the previously announced, Michelin-supported joint venture with Antin Infrastructure Partners and to finance the JV’s first plant. The remaining 25% will finance Enviro’s operations for at least 24 months.

9th May 2023/by Stephen

Enviro, Antin partnering to recycle 1 million tonnes of tyres by 2030

On 29 March, Scandinavian Enviro Systems and Antin Infrastructure Partners announced the formation of a joint venture. Michelin is supporting this JV, which it expects will “create the world’s first large-scale tyre recycling group.”

30th March 2023/by Stephen

Enviro gets follow-up order from US oil company

International News

Scandinavian Enviro Systems (Enviro) has received an order for tyre-derived pyrolysis oil, with an estimated value of 4.7 million Swedish krone ($450,000). Enviro hasn’t named the firm behind the order, but has said that it is “the subsidiary of a leading US oil company that submitted an initial order for oil in February of 2022 for production tests”.

6th February 2023/by Chris

Enviro reports further tyre oil order

Company News, International News

Scandinavian Enviro Systems has received a recovered tyre pyrolysis oil order worth SEK 2 million (£158,000) from Preem, Sweden’s largest fuel company. Enviro will deliver the oil in the first quarter of 2023 for Preem’s use in production tests that will determine its suitability for producing biofuels.

21st November 2022/by Stephen

US oil company reports successful Enviro oil tests

International News

Scandinavian Enviro Systems (publ) received an order for its tyre-derived pyrolysis oil from the subsidiary of a leading US oil company for production tests in February 2022. The oil was delivered in June following its approval in accordance with the EU REACH directive, a condition for a final deal.

15th November 2022/by Chris

Enviro appoints new CFO

Scandinavian Enviro Systems is in the midst of an expansive phase, and as part of the accompanying enlargement of its finance department has appointed Staffan Kullberg its new chief financial officer. Urban Folcker, whom Kullberg succeeds in this role, will assume responsibility for expanding the company’s capacity in business control and for developing processes in the finance area required to support expansion.

7th September 2022/by Stephen

Enviro given REACH, Uddevalla green lights

Company News, International News

Scandinavian Enviro Systems (Enviro) has received approval as an intermediate for its pyrolysis oil according to EU chemicals regulation REACH, and will thus now execute the previously announced order for pyrolysis oil to the subsidiary of a leading US oil firm. The company also reports it has gained an environmental permit for the planned recycling plant in Uddevalla, Sweden.

5th July 2022/by Stephen

New Michelin MotoE tyre features more Enviro recovered carbon black

Company News, International News

Michelin has produced a new version of its motorcycle racing tyre with an even higher share of environmentally sustainable material ahead of the MotoE World Cup motorcycle racing series. This is the fourth season of the MotoE World Cup electric motorcycles racing series.

10th May 2022/by Chris

Enviro reports ‘Sharp increase in interest’ in rCB due to war in Ukraine

Company News, International News

Tyre recycling and product recovery specialists Scandinavian Enviro Systems (Enviro) is has noted “a sharp increase of interest in purchasing the carbon black and oil that Enviro recovers from end-of-life tyres” since the Russian invasion of Ukraine on 24 February 2022. Interest has been observed “among old and new customers”, but the company has not commented on what this means in terms of specific orders.

17th March 2022/by Chris

US oil giant trialling Enviro pyrolysis oil

Scandinavian Enviro Systems shares that it has received a recovered pyrolysis oil order worth SEK 2 million (approximately £158,000) from the subsidiary of a leading US oil company. The purchaser hasn’t been named but Enviro describes it as “one of the five largest oil companies in the US.” The oil company intends to carry out production tests with the oil at one of its refineries in Europe, with this testing determining the oil’s suitability as feedstock for producing various biofuels.

18th February 2022/by Stephen

Fredrik Alpner to manage Enivro’s current & upcoming plant

With the appointment of Fredrik Alpner as Site Manager for its plant in Åsensbruk and future facility in Uddevalla, Swedish firm Scandinavian Enviro Systems says it has made a “strategic recruitment”. Alpner will take office in mid-April and initially work as site manager of Enviro’s Åsensbruk plant. Enviro intends for him to later assume responsibility for the future plant in Uddevalla in the role of site manager.

26th January 2022/by Stephen

Salvadori supplying downsizing system to Michelin/Enviro recycling plant

Company News, International News

Earlier this year, Michelin Group and Scandinavian Enviro Systems announced they were building a facility for extracting raw materials such as carbon black, oil, steel and gas from end-of-life tyres, with Michelin holding 90 per cent equity in the Antofagasta, Chile-based joint venture. Michelin has selected Italian tyre recycling solution provider Salvadori Srl to supply and install the plant’s downsizing system, and also to train local staff in its operation. The plant will use Salvadori’s technology to reduce tyres into pieces of predetermined dimensions before further processing them.

23rd November 2021/by Stephen

UK facility to feature early in Scandinavian Enviro Systems’ global rollout

A business that claims a nearly endless market to conquer with projected EBITDA margins approaching 70 per cent is either deluded or on to a good thing. And as the deluded don’t receive substantial investment from firms such as Michelin, the latter must apply in the case of Scandinavian Enviro Systems (Enviro). The company aims to be the leading player in the circular economy for tyres and wants to secure a 15 to 30 per cent share of the global market for recovered carbon black. The UK is tipped to be an early beneficiary of these ambitious growth plans.

18th November 2021/by Stephen