Pyrolyx USA Indiana LLC Thursday filed for Chapter 7 bankruptcy — a liquidation bankruptcy — in the U.S. Bankruptcy Court District of Delaware.
The company lists debt to creditors at more than $49.9 million.
While the company lists more than $61.14 million in assets, more than $58.5 million is in machinery and equipment and land. Included in that, Pyrolyx lists the value of its plant and land at 4150 E. Steelton Drive in Terre Haute as $7,562,202, according to its bankruptcy court filing.
Read the source article at tribstar.com
Dutch end of life tyre upcycling company Black Bear Carbon has appointed Victor Vreeken its new chief technology officer. In this role, Vreeken will lead the company’s efforts to scale-up and globally roll out its technology for converting tyre rubber into recovered carbon black, gas and biogenic oil.
Read the source article at Tyrepress
Scandinavian Enviro Systems has signed an MoU with WindSpace, a Danish company that develops environmental and renewable energy technologies and solutions, to establish a new recycling plant in Denmark.
The agreement is valid for a period of 18 months and will involve the opening of a plant capable of recycling 30,000 tonnes of end-of-life tires per year.
“The ambition is to start the project with WindSpace and their co-investors in 2019,” said Thomas Sörensson, CEO Enviro.
Read the source article at Tire Technology International
North West Rubber Ltd. (NWR) and Moose Creek Tire Recycling Inc. (MCTR) a Subsidiary of Animat Inc. are pleased to announce their acquisition of the assets of Nexxsource Recycling (and all related companies). The new company will operate under the name Evolve Recycling Inc. (Evolve), and will also include Trillium MC Inc., MCTR’s tire hauling subsidiary. Evolve is headquartered at 300 Henry Street, Brantford, Ontario.
Evolve is the largest transporter and processor of end-of-life tires in Canada, with operations spanning Manitoba and Ontario. Evolve processes these tires into valuable end-products, helping Ontario Producers comply with the Regulations made under the Resource Recovery and Circular Economy Act, 2016, while satisfying the product demands of their customers.
Read the source article at cdn2.hubspot.net
ST. LAURENT, Quebec—Canadian cleantech company Ecolomondo Corp. is planning to set up a tire-recycling plant in Hawkesbury, Ontario, to showcase its thermal decomposition process technology.
The company has acquired a 13.4-acre plot land for the project with site work set to begin immediately. Hawkesbury is a town of about 10,000 inhabitants in eastern Ontario on the Ottawa River near the border with Quebec.
Construction work will start on the 50,000-sq.-ft. facility in autumn 2018 with completion scheduled for the second or third quarter of 2019, Ecolomondo said.
Read the source article at Rubber and Plastics News
VANCOUVER, June 8, 2018 /CNW/ – North West Rubber Ltd, a leading manufacturer and distributor of recycled rubber solutions in North America, is pleased to announce that it will be opening a recycled rubber mat manufacturing facility in Houston, Texas in 2019.
Read the source article at North West Rubber
GOTEBORG, Sweden — Canadian energy-services provider ArticCan Energy Services Inc. is proposing setting up a scrap-tire processing plant in Canada designed to process 30,000 metric tons of waste tires a year.
To effect the plan, ArticCan Energy signed a memorandum of understanding (MoU) with Scandinavian Enviro Systems A.B., a Goteborg-based engineering concern founded in 2001 to develop pyrolysis technology for recovering carbon and hydrocarbon compounds from waste tires.
The parties did not disclose a proposed site, timetable for completing the plant nor the investment.
Read the source article at Tire Business
Pearl Global Limited has begun commissioning its first production plant after receiving Australia’s Queensland state government, environmental and council approvals for its unique process to convert waste tires into valuable secondary products.
Pearl Executive Chairman Gary Foster said, “This is a turning point for used tire processing in Australia. We are the first company in Australia to receive licenses for the thermal treatment of rubber, to reclaim and recover valuable products for resale.
Read the source article at Traction News
Tyromer Inc., a scrap tire devulcanization company, is now producing a high performance, non-chemical devulcanized rubber made from crumb or retread buffing in the United States.
Their tire-derived polymer or TDP can actually increase performance when incorporated into a pre-cure tread compound and costs less than virgin material.
Read the source article at Tire Review
Pittsburgh-based Liberty Tire Recycling Holdco LLC and its subsidiaries have completed the refinancing of its existing term loan and exchange offer relating to its 11 percent second lien secured notes due 2021.
The transactions substantially deleverage the company’s balance sheet, reduce interest expense, extend the maturity of its term loan and notes, and better position Liberty Tire to capitalize on growth opportunities, according to the company.
As part of the transactions, Carlyle Strategic Partners IV L.P., an investment fund managed by The Carlyle Group, became Liberty Tire’s majority equity sponsor and is partnering with Liberty to provide additional strategic resources to support its continued success.
Read the source article at Recycling Today