Life for Tyres Group to establish $46 million tire recycling facility in Louisiana
Reserve, LA – Life for Tyres Group Limited, Europe’s largest end-of-life tire recycling company with manufacturing facilities for sustainable commodities, announced it will invest $46 million to establish its first U.S. processing facility on 10 acres at the Port of South Louisiana.
The recycling and manufacturing plant, L4T Louisiana LLC, will convert end-of-life tires into high-quality sustainable commodities such as advanced biofuel feedstock, recovered carbon black and scrap steel. L4T expects to create 46 direct new jobs in St. John the Baptist Parish. Louisiana Economic Development estimates the project will result in 151 indirect new jobs, for a total of 197 potential new jobs in the Southeast Region.
“This new project is a perfect example of the power of the ports to drive investment and job creation in Louisiana,” Governor Jeff Landry said. “In addition to the tremendous impact this foreign investment will have on the state and local economies, L4T will support Louisiana-based oil and gas and petroleum chemical companies with high-quality sustainable commodities that help them achieve their carbon management goals.”
Life for Tyres Group’s patented technology enables it to manufacture high-quality secondary raw materials such as recovered carbon black, green oil and steel, which are then used in industrial processes. The company says its approach reduces up to 90% of greenhouse gas emissions when compared with conventional tire recycling processes.
“We are very excited about expanding our operations in the U.S. in the state of Louisiana and being part of its energy transition,” L4T CEO Tilen Milicevic said. “A strong industrial ecosystem, the availability of qualified personnel and suppliers, excellent connectivity, abundance of feedstock and proximity of our final clients are just a few of the many reasons why L4T Group, following a thorough market study, decided for Louisiana to be home to our first investment in the U.S. We are looking forward to a long and fruitful partnership with the Port of South Louisiana and to being good corporate citizens for the state of Louisiana.”
L4T’s Louisiana facility is part of a broader global expansion plan by the company, which is headquartered in Ireland and recently opened a plant in Puertollano, Spain.
“At the Port of South Louisiana, we have made environmental sustainability a pillar in our mission as we seek private investments that not only create jobs for River Region families, but are also safe for our community,” Port of South Louisiana CEO Paul Matthews said. “The first of its kind in the nation, L4T Louisiana will be a world-class, carbon positive facility where Louisiana’s workers will produce high-quality totally sustainable commodities. This project will be a welcome addition to Globalplex, making it a greener and more efficient facility with room to grow.”
To secure the project, the state of Louisiana offered a competitive incentives package that includes the comprehensive workforce development solutions of LED FastStart. It also includes a Performance-Based Grant of $1 million to be used for reimbursement of company expenditures for site improvements. The company is also expected to participate in Louisiana’s Industrial Tax Exemption and Quality Jobs programs.
“We are thrilled to welcome Life for Tyres to the Greater New Orleans region, creating economic growth and new jobs in St. John the Baptist Parish,” said Michael Hecht, president and CEO of Greater New Orleans, Inc. “The company’s innovative process not only helps put discarded tires back into commerce, it transforms them into sought-after biofuel products that help prove that Louisiana will be the all-of-the-above energy state of the future.”