Rubber recycler Revyre is raising funds to boost tyre recycling in Australia and New Zealand. It has teamed up with InfraCo, Energy Estate and Project Portfolio Management to accelerate its growth strategy.
Revyre launched its first tyre recycling facilities in the region last year during the pandemic. Its recent business partnerships have won support from feedstock providers and, as a next step, the company wants to construct several more plants across Australia and New Zealand. The company is currently in discussions with interested parties and is hoping to achieve financial close for the first sites within the next 12 months.
The recycler explains its solution ‘re-purposes 100% of tyre constituents by implementing a highly efficient circular process with near zero emissions, no by-products and no toxic chemicals’. The technology disintegrates most tyres and recovers the rubber compound and scrap steel for re-use. Revyre will focus initially on truck-bus-radial and off-road tyres that yield a rubber compound that can be used to manufacture new tyres as well as general black rubber goods.
‘Revyre has entered the market at the right time to provide a global best practice solution to mining companies who continue to argue that burying or dumping tyres is the only viable option for them,’ says company ceo Shaun Zukor. ‘We now know our re-processing solution is economically viable, environmentally sustainable and helps tyre manufacturers keep their costs in check as natural rubber demand and risks rise.’
Troy McDonald, managing director of Project Portfolio Management, adds: ‘As someone who has worked across the resources sector, I know how important sustainability is to ensure a positive legacy and attract future investment. My team and I see Revyre as a truly impactful solution and we are very excited to be a part of the company’s next steps in Australia.’
Simon Currie, principal at Energy Estate says he is excited to see the roll out of the facilities and the benefits they bring for regional areas. ‘By leveraging capital investment, Revyre can position Australia and New Zealand as world leaders for circular tyre solutions. With the ban of waste exports to China now taking effect in Australia, stakeholders are realising the need to sustainably address our waste products and come up with innovative solutions domestically to protect the environment while continuing to support industry.’
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