Sydney, Australia – REVYRE Australia and New Zealand have stepped up a gear in the waste tire sector, raising capital and partnering with Project Portfolio Management P/L (PPM).The MOU with PPM brings a highly capable team with the right values, project management and operational capabilities in the mining and heavy industrial sectors to support REVYRE accelerate and realize our strategy.
Last year, InfraCo and Energy Estate announced the REVYRE joint venture – a partnership dedicated to addressing the global End-of-Life Tyre (ELT) disposal problem. Since then, significant progress has been made for REVYRE’s first Facilities in both countries and gaining support from potential feedstock providers.
The REVYRE solution re-purposes 100% of tire constituents by implementing a highly efficient circular process with near zero emissions, no by-products and no toxic chemicals. The technology can disintegrate most tires, and recover the rubber compound and scrap steel for re-use.
REVYRE will focus initially on Truck-Bus-Radial and Off-the-Road tires. The Tire Derived Polymer (TDP), or rubber compound, that is created from the REVYRE process can be used to make new tires and in general black rubber goods manufacturing. As the price of natural rubber continues to remain high and availability declines, TDP offers a viable alternative for manufacturers.
Increasingly, the issue of managing ELT disposal has gained attention globally, with governments, industry bodies and community groups expressing major concerns over the lack of accountability for companies burying, burning or dumping tires.
“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 tires is the only viable option for them.” Shaun Zukor, CEO of REVYRE said.
“We now know the REVYRE re-processing solution is economically viable, environmentally sustainable and helps tire manufacturers keep their costs in check as natural rubber demand and risks rise. This is good news for mining companies and provides a good incentive to stop dumping tire waste at the expense of the environment and communities.”
CEO and Managing Director of PPM, Troy McDonald, said: “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.”
REVYRE has recently announced its plan to raise funds to support the roll out of several priority 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.
“This is a great opportunity for REVYRE to showcase the innovative and sustainable solutions that exist for the mining and minerals processing industries.” Said Simon Currie, Principal at Energy Estate.
“By leveraging capital investment, REVYRE can position Australia and New Zealand as world leaders for circular tire solutions. We are extremely excited to see the roll out of these Facilities and the compounding