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Scandinavian Enviro Systems (Enviro) has received MSEK 25.6 in compensation from the joint venture company after achieving a first predefined milestone linked to the construction of the plant in Uddevalla. Half of the compensation consists of cash and the other half of shares in the joint venture company. The compensation is received after achievement of the first of several predefined milestones linked to the construction of the site in Uddevalla. As previously commmunicated, Enviro will continuously receive compensations linked to the achievement of certain predefined milestones. As Enviro also previously announced, the company will communicate individual transactions linked to these compensations.

Pyrolysis is a thermochemical pathway to treat vulcanized rubber for the recovery of valuable products. It involves the decomposition of the rubber at high temperatures (400 – 900°C) in the absence of an oxygen atmosphere. The main products of pyrolysis are a solid fraction, usually raw carbon black (according to ASTM D8178); a liquid fraction comprised of light oil, heavy oil, and tar; and a gas fraction. [Ramirez-Canon et. al., 2018]

On February 23, Scandinavian Enviro Systems (Enviro) has received an initial payment for costs incurred relating to the plant in Uddevalla, Sweden. The payment has been made by the joint venture established by Enviro and Antin Infrastructure Partners. In this initial stage, Enviro has received a payment of MSEK 53 million, of which MSEK 26.5 in cash and MSEK 26.5 in the form of shares in the joint venture. As previously communicated, Enviro has an option to acquire an ownership share in the joint venture that over time will ultimately correspond to approximately 30 percent. Enviro intends to fully exercise this option.

Scandinavian Enviro Systems (Enviro) – a Swedish tire pyrolysis operator and equipment manufacturer – has been granted an environmental permit for the planned tire pyrolysis plant in Uddevalla, Sweden. As previously announced by Enviro, the application pertained to the establishment of a tire pyrolysis plant on an industrial site in the Lillesjö district of Uddevalla Municipality. The facility will have the capacity to process up to 60,000 tons per year, which would suffice for the recycling of more than 60 percent of Sweden’s total annual volume of end-of-life tires. The environmental permit application for the facility was filed in mid-November of last year.

Scandinavian Enviro Systems (Enviro) has welcomed Björn Larsson as the head of strategic purchasing and Josefin Wallman as the program manager. Both Larsson and Wallman will play central roles in executing the company's expansion plan, developed in partnership with Antin Infrastructure Partners. Björn Larsson will have responsibility for purchasing in connection with new recycling plants and Josefin Wallman will act as project manager for the establishment of future recycling plants, including the planned plant in Uddevalla.

As the construction of the Uddevalla recycling plant continues, Scandinavian Enviro Systems AB (publ) has released a half-year report. Second quarter 2024: Net revenues for the period were MSEK 58.5(3.6) Earnings after tax for the period were MSEK 30.5 (-25.3) Earnings per share for the period (before dilution) was SEK 0.04 (-0.03)

Scandinavian Enviro Systems (Enviro) currently has an ownership stake of 8.78 percent in the joint venture that the company formed together with Antin Infrastructure Partners’ NextGen platform and which is supported by Michelin. Enviro's share of ownership will shift as the joint venture company is capitalized, Enviro is compensated for the achievement of certain milestones and depending on when Enviro exercises its option to buy into the company.

Recently, Scandinavian Enviro Systems AB (publ) released Interim Report for January-December 2022 demonstrating progress in achieving widespread commercialization and industrialization. See below: Q4 2022: Net revenues for the period were MSEK 2.0 (1.0) Earnings after tax for the period were MSEK -25.0 (-18.1) Earnings per share for the period (before dilution) was SEK -0.03 (-0.02) Cash flow for the period after investments was MSEK -26.2 (-16.6) Enviro receives pyrolysis oil order worth MSEK 2 from Preem

Enviro's recovered carbon black has been used by Swedish rubber and plastic manufacturer AnVa to develop climarub, one of the world’s first completely climate-neutral rubber compounds. “The launch clearly demonstrates the great commercial value of recycling in achieving climate neutrality,” says Fredrik Emilson, CEO of Enviro.