PriceSensitive

Pyrolyx and Continental team up for sustainable tyre solution

Industrial
ASX:PLX
10 November 2019 21:53 (AEST)

Pyrolyx AG has announced a five-year supply agreement for recovered Carbon Black (rCB) with Continental AG.

Pyrolyx is the world leader in the extraction of rCB from end-of-life tyres. rCB is used to manufacture new tyres and is also used in the plastic, technical, rubber and masterbatch industries.

Continental is a German automotive manufacturing company. It offers solutions for vehicles, machines, traffic and transportation.

This announcement is a major step in addressing the global challenge of improving the sustainability of tire manufacturing and materials consumption.

Under this agreement, Pryolyx expects to absorb over 3 million end-of-life tyres and to reduce CO2 emissions by more than 25,000 tons annually, compared to traditional carbon black.

“Continental is excited to be entering this long-term relationship with Pyrolyx as it underlines our commitment to improving the sustainability of our products and operations,” Continental’s Vice President of Material and Process Development and Industrialisation Andreas Topp said.

“We are committed to innovative, environmentally beneficial technologies for our customers while ensuring our tyres meet the highest levels of safety performance,” Andreas added.

Pyrolyx’s U.S. CEO Thomas Redd says this supply agreement is extremely positive for the company.

“This supply agreement is an extremely positive development for Pyrolyx and validates our approach to the recovery of carbon black from end-of-life tyres and the acceptance of rCB globally,” Thomas said.

“The validation of Pyrolyx’s rCB is a ‘game-changer’ for Pyrolyx and the recovered carbon black industry,” he added.

Pyrolyx says the agreement will support its growth with additional manufacturing facilities in North America and Eastern Europe.

Pyrolyx is up 17.06 per cent on the Australian Securities Exchange, trading at $1 per share at 11:16 am AEDT.

Related News