A renewable energy specialist bringing the UK’s greenest tyre recycling plant to the North East has secured a second lucrative deal in as many weeks.
Wastefront AS, a Norwegian waste tyre recycling company, has today (25 November) signed an exclusive long-term project delivery partnership with US sustainable energy specialist Devaltec LLC.
Devaltec will act as Wastefront’s primary strategic partner and will co-lead the development of all upcoming projects for the next 5 years, including the company’s tyre recycling plant being constructed at Port of Sunderland which is due for completion in 2023.
Led by its CEO Vianney Valès - a former top executive in Oil & Gas in Shell and Galp Energia - Devaltec’s team equips Wastefront with a wealth of experience in bringing innovative projects and technologies to commercial success.
The announcement follows last week’s news that Wastefront has secured a 10-year offtake agreement with global energy giant Vitol for the production of liquid hydrocarbons and certain non-liquid products produced at the Sunderland plant.
Inge Berge, CEO and co-founder of Wastefront, said: “Wastefront’s ambition is to become a world leader in tyre recycling, building a profitable growth company while at the same time solving a global environmental problem.
“In order to achieve this, we will partner with the very best in the industry. We believe Devaltec’s industrial background and project experience will play a key part in realising Wastefront's potential, so I’m excited to be able to announce this strategic partnership.”
Vianney Valès, CEO of Devaltec, added: “Wastefront has built solid foundations to be an international leader in the recycling of wastes into valuable products. Devaltec is looking forward to this exclusive project delivery partnership. It brings together two companies with complementary skills, able to capture significant value in sustainable energy and waste recycling.”
Matthew Hunt, director at Port of Sunderland, said: “This is yet another fantastic achievement for Wastefront and just goes to show how much confidence investors and the wider energy industry have in its pioneering technology. We are absolutely delighted that the company has chosen Port of Sunderland as its base and look forward to working shoulder-to-shoulder with the team to help them realise their ambitions.”
Wastefront’s plants will be the first to combine conventional technologies with the company’s own proprietary process, which will minimise the environmental impact typically associated with traditional tyre pyrolysis.
The company’s pyrolytic reactors comply with all local environmental regulations and its technology meets with the emissions levels and specifications established by European standards. The gas purification system removes pollutants, organic compounds and harmful solid particles without releasing unwanted by-products into the environment.
The estimated 29 million metric tonnes of vehicle tyres which reach the end of their lifespan each year represent an underreported but major cause of pollution due to their non-biodegradability. By converting tyre waste into usable commodities, Wastefront offsets carbon emissions, with the alternative to recycled commodities being crude oil.