REVYRE Australia and New Zealand is stepping up a gear in the waste tyre sector, raising capital and partnering with Project Portfolio Management P/L (PPM).
Last year, InfraCo and Energy Estate announced the REVYRE joint venture – a partnership to address the global End-of-Life Tyre (ELT) disposal problem.
REVYRE recently announced plans to raise funds for the roll out of several priority plants across Australia and New Zealand. The company is in discussions with interested parties and hopes to achieve financial close for the first sites within the next 12 months.
“This is a great opportunity for REVYRE to showcase the innovative and sustainable solutions that exist for the mining and minerals processing industries,” said Simon Currie, Principal at Energy Estate.
“By leveraging capital investment, REVYRE can position Australia and New
Zealand as world leaders for circular tyre solutions. We are extremely excited to see the roll out of these facilities and the compounding benefits they have for regional areas.
“With the ban of waste exports to China now taking effect in Australia, stakeholders are realising the need to sustainably address our waste products and come up with innovative solutions domestically to protect the environment while continuing to support industry.”
REVYRE is a low emission rubber polymer recovery and re-processing business for end-of-life rubber products
It says its technology can disintegrate most tyres and recover the rubber compound and scrap steel for re-use with near zero emissions, no by-products and no toxic chemicals. The Tyre Derived Polymer (TDP), or rubber compound created can be used to make new tyres and in general black rubber goods manufacturing.
The company will focus initially on Truck-Bus-Radial and Off-the-Road tyres.
“REVYRE has entered the market at the right time to provide a global best practice solution to mining companies,” said Shaun Zukor, Chief Executive of REVYRE.
“We now know the REVYRE re-processing solution is economically viable, environmentally sustainable and helps tyre manufacturers keep their costs in check as natural rubber demand and risks rise. This is good news for mining companies and provides a good incentive to stop dumping tyre waste at the expense of the environment and communities.”
The memorandum of understanding with PPM gives REVYRE a team with project management and operational capabilities in the mining and heavy industrial sectors.
Troy McDonald, Chief Executive and Managing Director of PPM has worked across the resources sector and knows the importance of sustainability to ensure a positive legacy and attract future investment.
“My team and I see REVYRE as a truly impactful solution and we are very excited to be a part of the company’s next steps in Australia.”