80m Tyre Recycling Pyrolysis Project Struggling to Finance Teesside Plant

Middlesbrough, UK based PYReco, which aims to develop an £80 million plant to recycle oil, gas, refined carbon black, and steel from end-of-life tyres on Teesside, is struggling to secure adequate investment, according to a report in the Gazette Live. The company has previously been awarded £1 million in government funding, but is has since seen two separate deals with global investors fall through as it struggles to get the project off the ground. According to PYReco, at the heart of its business model is the ability to recycle a high quality carbon black material from its PYReco Zerowaste Process tyre pyrolysis process, which it said cheaper technologies simply cannot achieve. More Waste Management World Articles VIDEO 15,000 Tonne Tyre Blaze at Yorks Recycling Facility Visible from Space Tackling Tyre Waste VIDEO: Microwave Energy Cuts Tyre Recycling GHG Emissions New Recycling Machine to Pulverise and Devulcanize Tyre Waste from Pallmann £80m Tyre Recycling Pyrolysis Project Struggling to Finance Teesside Plant Cutting the Risk of Landfill Fires Largest Tyre Recycling Facility in UAE Nano Technology Tyre Recycling Firm Secures Funding But with high technology comes a high price tag. To make such a costly facility economically viable the company said that it will require 200 tonnes of tyre shred every 24 hours - anything less will not be cost effective. The technology has been developed by global industrial and process control equipment developer, Metso at its pyrolysis processing pilot plant facility in Pennsylvania, US. However, according to the report, even though the project has also been entirely underwritten by Metso, it is struggling to raise the requisite finance. The company’s bosses are reported to have put this down to “risk-averse” investors, but to also have claimed that the project is attracting new interest. “The venture capitalists are risk-averse - this isn’t a risk project, the risk is absolutely minimal to the investor,” Noel Harasyn, co-founder of PYReco is reported to have said. “Metso has been building pyrolysis plants on a massive scale since 1937 for the likes of Rio Tinto and Shell. All the boxes are ticked, it’s just about finding investors,” he continued. “We are attracting new interest, certainly from the Middle East but not the UK.” Read More Tackling Tyre Waste With the rapidly growing number of vehicles around the world, the disposal of end-of-life tyres is a growing issue. Often simply dumped by the million to pose a serious environmental, health and fire risk, the technology to recover higher value materials and energy from waste tyres is moving forward. By Ben Messenger High Value Organic Compounds from Waste Tyres at Prototype Plant Dynamic Energy Alliance Corporation (OTCQB: DEAC) has initiated the first phase (or prototype phase) of a four-phase operating plan to validate and commercialise patent pending technologies that extract high value organic compounds from waste tyres. Brent Quality Crude Oil from Waste Plastic & Tyres Oil samples produced by Riverbank, California based waste plastic and tyres to oil specialist, Green EnviroTech Holdings and approved in May 2012, have precipitated the pricing at the 'Brent Crude' spot price.