Circtec, a specialist in pyrolysis technology for sustainable end-of-life tyre recycling, has secured €150 million in a recent financing round. Novo Holdings and A.P. Moller Holding spearheaded this initiative with a €75 million equity investment. The financing also includes €22.5 million in grants awarded by the Government of the Netherlands.
The first round of the FIA World Endurance Championship in Qatar marked LMGT3’s arrival to the championship, with Goodyear as the exclusive tyre supplier. Through the introduction of its new LMGT3 tyre specification and enhancements to logistical support, Goodyear claims to have aligned with WEC and FIA’s sustainability goals, driving efforts towards a cleaner and more environmentally responsible sport.
When it commences operations in 2024, the end-of-life tyre (ELT) processing facility that Bolder Industries, Inc. and three partners are setting up in the Port of Antwerp will be capable of processing approximately 3 million ELTs a year. Bolder says this will “dramatically increase” production volumes for BolderBlack and BolderOil and satisfy increasing demand for these sustainable, circular raw materials in Europe and beyond.
Off-highway tyre specialist GRI has introduced an agricultural tyre range containing 37.5 per cent sustainable materials. The new Green XLR Earth series is made with a high percentage of recycled carbon black, soybean oil, HD silica and reclaimed rubber. GRI debuted the range at the Farm Progress Show in Iowa, USA.
On 17 December, Birla Carbon executed a US$750 million Sustainability Linked Loan (SLL) with a syndicate of more than 15 banks and intends to use the proceeds from the loan to refinance its existing debts. Key Performance Indicators (KPIs) linked to the facility include: “direct CO2 intensity, bringing circular products to market, and an external rating of Sustainability”. The fund’s direct connection with “bringing circular products to market” could be interpreted as an indication that the company is willing to invest in technologies such as pyrolysis which seeks to recover carbon black from end-products such as tyres.
After its first 18 months of existence, members of the BlackCycle R&D project met at Michelin’s technology centre in Ladoux, France on 22 November for the consortium’s first workshop. Some 120 international industry leaders, academics, H2020 project coordinators, politicians, and institutional representatives from 20 countries exchanged ideas and discussed the deployment of circular economy initiatives in Europe.
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