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Enviro completes share issue, factory construction on schedule

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Sweden-based tyre recycling specialist Scandinavian Enviro Systems (Enviro) confirms the completion of its latest rights issue, which initially secured approximately SEK 240 million (£18.5 million / US$25.2 million) before issue costs. It has now transferred shares and warrants to the respective custody accounts, and trading in the warrants has commenced. Enviro expects the issue proceeds to last 18 months and to take the company through to obtaining the PAC (Provisional Acceptance Certificate) for its first factory in mid-2026.

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Related news:

  1. Corporate bond to finance Environ’s ownership of recycling plants
  2. Enviro and Michelin extend strategic partnership letter of intent
  3. Michelin and Enviro to build joint recycling plant
  4. Michelin building world first tyre recycling plant in Chile
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From tyre to tyre – Enviro extends Michelin collaboration

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A collaboration between Michelin and Scandinavian Enviro Systems (Enviro) will see recycled raw materials from end-of-life racing tyres go into the production of new tyres, including race tyres. Enviro uses a pyrolysis procedure to extract carbon black, oil and other materials from used tyres, and since the start of the year has trialled the recycling of Michelin’s racing tyres at its facility in Åsensbruk, Sweden. It aims to gradually introduce the recycling of Michelin’s racing tires during 2026.

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Related news:

  1. Tyre recycling: Work to start on Enviro & Antin JV plant
  2. Enviro breaks ground on recycling facility
  3. Enviro, Antin partnering to recycle 1 million tonnes of tyres by 2030
  4. Enviro share issue funding JV, operations
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Enviro tyre-derived rCB “central” to AnVa’s climate-neutral rubber compound

Scandinavian Enviro Systems (Enviro) reports that its recovered carbon black has been used by Swedish rubber and plastic manufacturer AnVa to develop climarub, one of the world’s first completely climate-neutral rubber compounds. Climarub is a further development of the rubber compounds that AnVa previously developed based on Enviro’s recycled carbon black and which have been used to manufacture high-performance rubber components for leading players in the Swedish automotive industry.

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Related news:

  1. Co-owned recycling plants: Enviro setting up USA holding company
  2. Corporate bond to finance Environ’s ownership of recycling plants
  3. Enviro: Improved tyre pyrolysis market will help revenues
  4. Michelin building world first tyre recycling plant in Chile
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Infiniteria pyrolysis plant progressing well, reports Enviro

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Scandinavian Enviro Systems (Enviro) has shared a progress update for the Infiniteria tyre recycling plant in Sweden, whose construction it is managing and coordinating. According to Enviro, the project is “progressing well” and the site in Uddevalla is now ready for the installation of production equipment.

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Related news:

  1. Tyre recycling: Work to start on Enviro & Antin JV plant
  2. Enviro share issue funding JV, operations
  3. Enviro, Antin partnering to recycle 1 million tonnes of tyres by 2030
  4. Key personnel arrive at Michelin-supported tyre recycling site
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Enviro CEO speaking at international Recovered Carbon Black conference

Scandinavian Enviro Systems (Enviro) CEO Fredrik Emilson is participating in a keynote CEO panel arranged during the first day of the Recovered Carbon Black conference as well as at a special networking lunch that Enviro is hosting and where chairman Alf Blomqvist will also be present. The Recovered Carbon Black conference takes place between November 5 and 6.

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Related news:

  1. Enviro reports ‘Sharp increase in interest’ in rCB due to war in Ukraine
  2. Co-owned recycling plants: Enviro setting up USA holding company
  3. Corporate bond to finance Environ’s ownership of recycling plants
  4. Klean CEO speaking on recovered carbon black at European Carbon Black Summit
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Enviro receives milestone compensation, reports improvements in H1 2024

Scandinavian Enviro Systems (Enviro) has announced a significant achievement in its joint venture project with the receipt of SEK 25.6 million (£1.9 million) as compensation for meeting a predefined milestone linked to the construction of its recycling plant in Uddevalla, Sweden. This compensation, which comprises equal parts cash and shares in the joint venture company, marks the first of several planned disbursements tied to the project’s progress. Enviro has also published its financial results for H1 2024.

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Related news:

  1. Tyre recycling: Work to start on Enviro & Antin JV plant
  2. Enviro share issue funding JV, operations
  3. Enviro develops ‘improved’ rCB
  4. Enviro given REACH, Uddevalla green lights
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Enviro in the red in 2023, now positioned for profitability

Scandinavian Enviro Systems AB (Enviro) has published its financial results for 2023, and these figures reflect the expense involved with setting up a new recycling solution for end-of-life tyres. The Swedish firm achieved net revenues of SEK 13.9 million (£1.1 million) during the year, a 73.8 per cent increase on 2022 revenues. Operating results were still in the red at SEK -93.6 million (-£7.1 million) and earnings after tax were SEK -92.3 million (-£7.0 million) (2022: SEK -83.6 million).

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Related news:

  1. Enviro given REACH, Uddevalla green lights
  2. Enviro, Antin partnering to recycle 1 million tonnes of tyres by 2030
  3. Enviro share issue funding JV, operations
  4. Enviro adds to key expansion team
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Enviro breaks ground on recycling facility

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After several years of planning, Scandinavian Enviro Systems’ recycling facility in Sweden took a further step towards reality yesterday with a groundbreaking ceremony at the plant site in Uddevalla. Enviro, Antin Infrastructure Partners, and Michelin finalised the investment decision for the plant just under a week earlier.

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Related news:

  1. Tyre recycling: Work to start on Enviro & Antin JV plant
  2. Enviro, Antin partnering to recycle 1 million tonnes of tyres by 2030
  3. Enviro share issue funding JV, operations
  4. Enviro adds to key expansion team
/by

Tyre recycling: Work to start on Enviro & Antin JV plant

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Uddevalla Municipality in Sweden has authorised Scandinavian Enviro Systems (Enviro) to proceed with the construction of its new joint venture end-of-life tyre recycling plant. This clearance comes after Enviro, Antin Infrastructure Partners, and Michelin reached a final decision on the project’s investment on 7 February. Having secured all essential environmental and construction approvals, Enviro anticipates commencing construction in the first quarter of 2024.

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Related news:

  1. Enviro, Antin partnering to recycle 1 million tonnes of tyres by 2030
  2. Enviro share issue funding JV, operations
  3. Enviro develops ‘improved’ rCB
  4. Fredrik Alpner to manage Enivro’s current & upcoming plant
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Enviro appoints Emilson CEO, advisory role for Sörensson

On 5 February 2024, Fredrik Emilson will succeed Thomas Sörensson as chief executive officer of Scandinavian Enviro Systems (Enviro). On this date, Sörensson will transition to the position of senior advisor.

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Related news:

  1. UK facility to feature early in Scandinavian Enviro Systems’ global rollout
  2. Fredrik Alpner to manage Enivro’s current & upcoming plant
  3. Enviro appoints new CFO
  4. Enviro adds to key expansion team
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Enviro appoints new CFO

Starting Monday 13 November, Christian Bergaust is the new interim chief financial officer of Scandinavian Enviro Systems. He joins the Swedish end-of-life tyre pyrolysis recycling specialist from Alelion Energy Systems, where he’d served as CFO for the past three years. Bergaust will work in parallel with current CFO Staffan Kullberg until, as previously announced, Kullberg leaves the firm in connection with the report for the third quarter on 23 November.

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Related news:

  1. Enviro appoints new CFO
  2. Enviro seeking new CFO as Kullberg announces departure
  3. Fredrik Alpner to manage Enivro’s current & upcoming plant
  4. Enviro adds to key expansion team
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Enviro seeking new CFO as Kullberg announces departure

Staffan Kullberg, who has served as chief financial officer of Scandinavian Enviro Systems since September 2022, has informed the Swedish pyrolysis tyre recycling specialist that he intends to leave Enviro to take up a position at a company in his hometown of Stockholm. He will remain in his current position at Enviro until after the report for the third quarter, which will be published on 23 November.

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Related news:

  1. Enviro appoints new CFO
  2. Fredrik Alpner to manage Enivro’s current & upcoming plant
  3. Gaboriaud named Michelin representative on Enviro board
  4. Wikforss tasked with Enviro’s communications & investor relations
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Enviro develops ‘improved’ rCB

Scandinavian Enviro Systems (Enviro) reports having developed a new type of recovered carbon black with improved dispersion properties. It developed this new type of carbon black to meet demand from the tyre and rubber industry and has produced the material at its plant in Åsensbruk, Sweden ”for some time” now.

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Related news:

  1. Fredrik Alpner to manage Enivro’s current & upcoming plant
  2. Enviro, Antin partnering to recycle 1 million tonnes of tyres by 2030
  3. Enviro share issue funding JV, operations
  4. Enviro reports ‘Sharp increase in interest’ in rCB due to war in Ukraine
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Siemens MoU to aid Enviro’s European expansion plan

Scandinavian Enviro Systems (Enviro) and Siemens have signed a Memorandum of Understanding regarding a collaboration to support the European expansion plan that Enviro announced together with Antin Infrastructure Partners earlier this year. Through the collaboration, Siemens’ “extensive experience in automation and digitalisation” will help boost the efficiency of Enviro’s production.

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Related news:

  1. Salvadori supplying downsizing system to Michelin/Enviro recycling plant
  2. Enviro, Antin partnering to recycle 1 million tonnes of tyres by 2030
  3. Enviro share issue funding JV, operations
  4. Enviro Q2 2023 financials; negotiations with further suppliers & customers
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Renewed ISCC certification for Enviro oil & carbon black

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.

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Related news:

  1. Enviro, Antin partnering to recycle 1 million tonnes of tyres by 2030
  2. Enviro share issue funding JV, operations
  3. Fredrik Alpner to manage Enivro’s current & upcoming plant
  4. Enviro given REACH, Uddevalla green lights
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