Enviro expects to meet increased interest in tire pyrolysis oil
Scandinavian Enviro Systems (Enviro) – Swedish tire pyrolysis equipment supplier and operator – has issued an interim report pinpointing the company is well-positioned to meet the increased interest in tire pyrolysis oil.
Below we cite short facts from the report highlighted by Enviro.
- Net revenues for the period were million SEK 0.2 (EUR 19700)
- Earnings after tax for the period were million SEK -12.7 (EUR -1.25 million)
- Earnings per share for the period (before dilution) was SEK -0.02
- Cash flow for the period after investments was million SEK -10.9 (EUR -1.07)
- Enviro and Michelin prolongs Letter of Intent regarding strategic partnership
- Improved market conditions for pyrolysis oil could strongly increase revenues from Enviro’s plants
January – September 2020
- Net revenues for the period were million SEK 1.1 (EUR -108,350)
- Earnings after tax for the period were million SEK -36.3 (EUR -3.56 million)
- Earnings per share for the period (before dilution) was SEK -0.07
- Cash flow for the period after investments was million SEK -34.0 (EUR 3.35 million)
- The company has completed a directed share issue of approximately million SEK 32.5 (EUR 3.2 million) as part of a strategic partnership with Michelin. Currently, the partnership is considered to contain 4 areas:
- A development agreement
- A share investment total of 20 percent in Enviro after the issue (completed)
- A common project to construct a plant
- A common delivery agreement between Michelin and Enviro
Significant events after end of period
- Enviro expects final partnership agreement with Michelin during the fourth quarter
- Feasibility study investigates conditions for tyre recovery with Enviro’s technology in the UK
- Recovered carbon black from Enviro is introduced in a customer-specific rubber compound from Trelleborg Mixing Forsheda
To read the full report by Enviro, please proceed to Enviro's website.
Article by Enviro.