Swedish Tire Pyrolysis Technology Supplier Launches Holding Company in the US
Renowned tire pyrolysis equipment manufacturer Scandinavian Enviro Systems (known as Enviro) has decided to launch a holding company in the USA to facilitate its establishment of co-owned tire pyrolysis plants on the US market. Recently, Enviro published a press release disclosing details of the decision.
“Our new strategy means that Enviro wants to become part-owner of plants based on our technology as it provides good revenue opportunities. However, becoming a partner places other requirements on company structures, and it is from this perspective that the decision to establish a holding company in the US market should be seen”, says Thomas Sörensson, CEO Enviro.
As mentioned in a recent press release by Enviro, the company has signed a term sheet with US TreadCraft Carbon LLC regarding the establishment of a jointly owned plant for end-of-life tire pyrolysis based on Enviro’s technology. The signing means that the parties agree on the main terms for a plant business such as scope of delivery, construction cost, payment and delivery terms.
Enviro asserts that, based on the term sheet, the parties are now negotiating the terms for a definitive agreement. At the same time, work is also underway to obtain supplementary agreements for the terms of the joint venture and license agreements. All negotiations are conditional on financing, a process that is going in parallel.
“The decision to establish a holding company in the US is part of the process of creating the right conditions for final agreements and financing of the facility.”
Press release by Enviro.