Enviro and Treadcraft extend MoU by six months – includes specified plant site and Joint Venture
N.B. The English text is an in-house translation of the original Swedish text. Should there be any disparities between the Swedish and the English text, the Swedish text shall prevail.
Scandinavian Enviro Systems and Treadcraft Limited extend the MoU that was signed on June 29th, 2018 by six months. The parties intend to establish a Joint Venture for co-ownership of a recycling plant with an annual capacity of 30,000 tonnes tyres. The plant is planned to be established at 1501 College Avenue, Niagara Falls, New York, USA.
“The fact that we have a specified site for the plant is an important step forward. We will now continue to formalize the terms and conditions of the project. Within the next six months, legal, financial and license issues will be clarified, and a plant order will be established. Joint ownership is in line with Enviro's new business model and it means that we will benefit from the returns that will be generated by a plant” says Thomas Sörensson, CEO of Enviro.
The contracting party Treadcraft Limited, located in Wainfleet, Ontario, Canada, was incorporated in 2007, and is today active on the North American market.
For more information, please contact:
Thomas Sörensson, CEO Enviro, +46 (0)735-10 53 43, thomas.sorensson@envirosystems.se
Urban Folcker, CFO Enviro, +46 (0)760-00 13 11, urban.folcker@envirosystems.se
Alf Blomqvist, Board Chairman Enviro, +46 733 149 700, alf@blomqvistunlimited.com
Mangold Fondkommission AB, +46 8 503 01 550, is Enviro’s Certified Advisor at Nasdaq First North Stockholm.
Scandinavian Enviro Systems AB
Regnbågsgatan 8C
SE-417 55 Gothenburg, Sweden
info@envirosystems.se
www.envirosystems.se
Scandinavian Enviro Systems AB (publ) is required to publish this information under the EU market abuse regulation. The information is provided by the contact person listed above for publication on December 28th, 2018, at 11:10 CET.
Enviro utvecklar, bygger och driver anläggningar för materialåtervinning av värdefulla resurser från uttjänta däck på en internationell marknad. Bolaget har utvecklat en process, baserad på en patenterad teknik, där upphettade däck i en syrefri miljö möjliggör att däckens olika material kan återvinnas utan förbränning. Således uppnås en miljövänlig utvinning där gas används till att driva anläggningen och de värdefulla resurserna kimrök, olja och stål säljs på marknaden. Materialen används i nya produkter vilket hjälper kunderna att uppnå hållbarhetsmål samt att behovet av fossila resurser minskar. Enviro grundades 2001, har huvudkontor i Göteborg och driver en anläggning för återvinning av uttjänta däck i Åsensbruk, Sverige. Bolaget är noterat för handel på Nasdaq First North med Mangold Fondkommission, 08 5030 1550, som Certified Adviser. www.envirosystems.se