On May 21, 2024, UK-based ReTyre Ltd signed a Memorandum of Understanding (MOU) with the Indian Rubber Materials Research Institute (IRMRI), under the Indian Ministry of Commerce. This agreement involves ReTyre-Bharat Pvt. Ltd, ReTyre’s Indian division.

The MOU focuses on technological research, product development, and mutual knowledge exchange. Mr. Shravan Bansal, Founder of ReTyre Ltd, stated: “With this MOU, ReTyre has taken a leap forwards in the strategic development of the company and its technology.” The collaboration with Siemens will support the introduction of their “Recycling at Source” technology in the tire recycling sector.

The agreement promotes a “Recycling at Source” model to reduce carbon impact. IRMRI will conduct R&D on activR, promote ReTyre’s technology, and provide technical guidance in India. They will also organize delegations and promote the technology to potential clients.

ReTyre will continue developing its UHP water jetting technology and supply machinery and operational services within a specified timeframe. The MOU supports ReTyre Bharat in establishing a mass manufacturing unit in India, aligning with “Make in India” and “Swadeshi” initiatives. IRMRI will consider recommending ReTyre’s “activR” as a “Green Product” for use in the rubber industry.

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