Queensland motor industry invests in Australian tyre recycler Green Distillation
The Motor Traders Association of Queensland (MTAQ) has become an investor in innovative Australian tyre recycler, Green Distillation Technologies Corporation (GDTC), which has discovered a process that turns end-of-life tyres into high value oil, carbon and steel.
The MTAQ represents some 15,500 employers in the retail, repair and ser-vice sectors of Queensland’s automotive/mobility industry, employing in excess of 90,000 people that generate more than $20 billion annually.
Group CEO Dr Brett Dale said that their investment in such an innovative enterprise is part of an exciting journey for his organisation and a reflection of the ongoing concern of his members for the disposal of end-of-life tyres, which had resulted into research and consideration of several technologies.
“This investment exemplifies how seriously we take waste management in our sector and by taking the lead and investing in a global solution for end of life tyres, is a responsible move as an industry leader and a very exciting investment opportunity.”