Oil and carbon black that Scandinavian Enviro Systems (Enviro) recovers from end-of-life vehicle tyres in its plant in Åsensbruk, Sweden have received new certification in accordance with the International Sustainability & Carbon Certification (ISCC) scheme. This is the second time that the recovered carbon black and oil from the facility have gained ISCC certification – initial certification for recovered carbon black in September 2021 delivered Enviro a world first.
Scandinavian Enviro Systems (Enviro) has contracted Mårten Wikforss to take responsibility for the company’s communications and investor relations. Wikforss is an independent communications advisor with a focus on cleantech and greentech companies and has been continuously employed by Enviro as an advisor for several years, but the company has now formalised the collaboration by giving him an official role.
Scandinavian Enviro Systems has reported an after-tax loss for Q2 2023 that is some seven times larger than its net revenue, but the company remains confident of its future following a directed share issue in May and as a definitive investment decision regarding its planned joint venture plant in Uddevalla, Sweden draws nearer. Enviro’s H1 2023 Half-Year Report also includes a statement from its CEO about delays to the start of construction work at the Uddevalla facility.
With the hiring of two new team members, Scandinavian Enviro Systems speaks of completing the “key recruitments central to its future expansion.” The company also shares that extensive preparatory work has delayed the start of construction at its joint venture tyre recycling plant in Uddevalla, Sweden.
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.
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.
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.
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.”
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”.
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.
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.
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.
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.
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.
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.