- Environmental Waste International (EWS) has signed an agreement with Danish development and investment company, WindSpace
- Through the partnership the two companies will collaborate on developing waste tire recycling plants across Europe
- EWS will grant WindSpace exclusive rights to its proprietary reverse polymerisation technology throughout Europe
- The companies’ first project will be Elysium Nordic, a TR100 recycling plant in Nyborg, Denmark
- Environmental Waste International (EWS) remains unchanged and is currently trading at C$0.065 per share
Environmental Waste International (EWS) has signed an agreement with Danish development and investment company, WindSpace.
WindSpace has previously helped to design, finance, build, and operate renewable energy and other green technology projects in Europe. The companies are continuing this pattern, by partnering up to develop waste tire recycling plants across Europe.
EWS has developed a proprietary system for processing rubber tires, called reverse polymerisation. As the technology processes the tires, it produces by-products including reclaimed carbon black, steel, syn gas, and oil.
EWS will grant WindSpace exclusive rights to the Reverse Polymerisation technology throughout Europe. In exchange, WindSpace must meet certain performance criteria, including the timely purchase and construction of a TR100.
WindSpace must also order and build additional plants within the first five years of its partnership with EWS, in order to retain its exclusive rights. The first project will be Elysium Nordic, a TR100 recycling plant located in Nyborg, Denmark.
A TR100 can process approximately 100 metric tons of tires every day. In addition to the sale of its TR100’s, EWS will gain revenue from ongoing licensing related to the volume of by-products produced from commissioned plants.
EWS’ CEO, Bob MacBean, expressed the company’s delight in having WindSpace as a partner in Europe.
“This endorsement from a sophisticated and experienced group is an important milestone, which confirms our belief that our technology is the best-in-class solution to the worldwide problem of the reclamation of waste rubber.
“The timing seems right for our long-term developmental efforts to be rewarded.
“We are currently in various stages of discussion with prospective customers or partners around the world, which underscores the global nature of the problem and the attractiveness of our solution,” he said.
Construction of Elysium Nordic is planned to start during the first quarter of 2021.
Environmental Waste International (EWS) remains unchanged and is trading at C$0.065 per share at 1:44pm EDT.
