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 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.
Scandinavian Enviro Systems shares that it has received a recovered pyrolysis oil order worth SEK 2 million (approximately £158,000) from the subsidiary of a leading US oil company. The purchaser hasn’t been named but Enviro describes it as “one of the five largest oil companies in the US.” The oil company intends to carry out production tests with the oil at one of its refineries in Europe, with this testing determining the oil’s suitability as feedstock for producing various biofuels.
With the appointment of Fredrik Alpner as Site Manager for its plant in Åsensbruk and future facility in Uddevalla, Swedish firm Scandinavian Enviro Systems says it has made a “strategic recruitment”. Alpner will take office in mid-April and initially work as site manager of Enviro’s Åsensbruk plant. Enviro intends for him to later assume responsibility for the future plant in Uddevalla in the role of site manager.
A business that claims a nearly endless market to conquer with projected EBITDA margins approaching 70 per cent is either deluded or on to a good thing. And as the deluded don’t receive substantial investment from firms such as Michelin, the latter must apply in the case of Scandinavian Enviro Systems (Enviro). The company aims to be the leading player in the circular economy for tyres and wants to secure a 15 to 30 per cent share of the global market for recovered carbon black. The UK is tipped to be an early beneficiary of these ambitious growth plans.
Scandinavian Enviro Systems (Enviro) is developing a public, international corporate bond to finance the company’s ownership of forthcoming recycling plants for end-of-life vehicle tyres. The work to develop the bond is being carried out in collaboration with the London-based financial adviser, Zenzic Partners.
Instead of just approving the use of its technology under license, Scandinavian Enviro Systems (Enviro) intends to introduce its technology worldwide by participating in joint ventures. To facilitate the setting up of such plants in the USA, Enviro’s board of directors has founded a holding company in that market.
The deadlines set out in two of the memoranda of understandings signed between Scandinavian Enviro Systems (Enviro) and firms based in Denmark, the USA and Canada last year may have passed, yet Enviro says this “will not affect the outcome of the negotiations or the possibility of opening the various plants.” The Swedish company still expects to establish joint venture tyre recycling plants with all three partners in the not too distant future.
State-owned Chinese firm Guangzhou Vanlead Group, parent company of Wanli tyre brand manufacturer South China Tire & Rubber Co., Ltd, has signed two memorandums of understanding with Swedish firm Scandinavian Enviro Systems. The first of these covers the establishment of a turnkey recycling plant in Guangdong province, and the second the setting up of a joint venture to market Enviro’s patented technology across China.
