Enviro’s pyrolysis oil approved under REACH - the company is now to execute a MSEK 2 order
Scandinavian Enviro Systems (Enviro) has received approval as an intermediate for its pyrolysis oil according to the EU chemicals regulation, REACH and therefore will now execute the previously announced order for pyrolysis oil worth MSEK 2 to a leading US oil company. The approval that has now been received means that Enviro can sell up to 1,000 tonnes of pyrolysis oil per year. In order to support broad commercialisation of its oil and the company’s expansion plan, Enviro will immediately apply for REACH approval for the sale of unlimited volumes.
The approval is an important first step towards the commercialisation of pyrolysis oil since it means that Enviro can begin larger production tests of the oil. The pyrolysis oil order announced earlier this year from a subsidiary of a leading US oil company, worth MSEK 2, was conditional upon approval in accordance with REACH and will therefore now be executed. The oil is scheduled to be delivered in the third quarter of this year and will be used by the customer for production testing.
REACH approval means that the company considers its pyrolysis oil to have achieved “end of waste” criteria, meaning that it is no longer considered to be waste or needs to be handled as waste.
REACH is the European Parliament and Council’s regulation concerning the Registration, Evaluation, Authorisation and Restriction of Chemicals. The regulation was introduced in 2007 to better protect human health and the environment from the risks that can arise from chemicals.
This disclosure contains information that Scandinavian Enviro Systems is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 30-06-2022 16:10 CET.
For further information, please contact:
Thomas Sörensson, CEO of Enviro, +46 (0)735-10 53 43, thomas.sorensson@envirosystems.se
Urban Folcker, Enviro CFO, +46 (0)760-00 13 11, urban.folcker@envirosystems.se
Alf Blomqvist, Chairman of the Board of Enviro, +46 (0)733 149 700, alf@blomqvistunlimited.com
Mangold Fondkommission AB, +46 (0)8 503 01 550, ca@mangold.se, is Enviro’s Certified Adviser on Nasdaq First North Growth Market Stockholm.
Scandinavian Enviro Systems AB
Herkulesgatan 1K
SE-417 03 Gothenburg
info@envirosystems.se
www.envirosystems.se
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 contributes to enhanced environmental and economic sustainability using a patented technology for the recovery of valuable raw materials from scrapped and end-of-life products, including tires. The production of new tires using carbon black recovered with Enviro’s technology reduces carbon dioxide emissions by up to 93 per cent compared with the use of virgin carbon black. Enviro has its head office in Gothenburg and a plant for the recycling of end-of-life tires in Åsensbruk. The largest owner is the French tire manufacturer Michelin. Enviro was founded in 2001 and is listed on Nasdaq First North Growth Market. www.envirosystems.se
