Michelin backs creation of tire recycling group

Recently, tire pyrolysis company Enviro and private equity firm Antin announced that the two companies will form a joint venture with the support of Michelin to jointly create a large-scale tire recycling group, with the goal of reaching a recycling capacity of about 1 million tons of tires by 2030. .

It is reported that Michelin has signed a multi-year supply agreement with Enviro, which includes recycled carbon black and tire pyrolysis oil. Meanwhile, Michelin plans to join the joint venture once the factory is complete.

In 2020, Michelin acquired a 20% stake in Enviro, and cooperated with Enviro in the second year to invest 30 million US dollars to build the world's first tire recycling plant in Chile. The establishment of a joint venture with Enviro this time is also a step in Michelin's layout of the tire recycling industry.