Austrian Carbon Recovery turns to crowdfunding to launch a tire pyrolysis plant
The Austrian Carbon Recovery GmbH is now seeking construction of tire pyrolysis plant in the vicinity of Vienna and aims to get funding of 300,000 euros.
The goal may become possible thanks to crowd investment as the project can receive financial assistance via the Crowd platform Conda where investors are encouraged to donate sums starting from 100 euros. Investors who will provide funds over 5,000 euros will receive a return of 5.5 percent per year for a term of 5 years.
The move comes after the Austrian firm earlier presented its innovative way of tire recycling that seeks to recycle rubber from tires into solid carbon, also known as recovered carbon black. Alternatively, the method allows getting a hydrocarbon mixture like pyrolysis oil and gas. Apart from commercial application of recycled products, the process is of value as it is totally in line with circular economy’s principles and it does not require external energy sources.
Even though the tire pyrolysis plant is still on the early stage of development, recycled products are already in demand and have customers, as the materials provide value. For instance, it is common to use recovered carbon black to produce tires and rubber, one local wholesaler supplying the industry assured the Austrian Carbon Recovery. The wholesaler also noted that there are customers who want to purchase tire-derived oil and gas.
The company’s innovative solution can create a lot of value. Germany, for instance, disposes of 650,000 tons of scrap tires annually – approximately 50 percent of them are incinerated as they are used to fuel cement kilns, but the remaining amount goes for domestic processing and international export. Producing recovered carbon black and oil through tire pyrolysis, the Austrian company will use precious material with more environmental and commercial benefits.
Company’s profile on the crowd funding platform can be found here.
Article by Eco Reporter.