Enviro starts delivery of previously announced oil order from Preem
In the next few days, Scandinavian Enviro Systems (Enviro) will begin delivering recovered pyrolysis oil as part of the order from Preem that was announced in November of last year. Preem will use the oil as a raw material for production tests and the order value is estimated at approximately MSEK 2.
Through production testing, Preem will determine how suitable the oil is for the production of different biofuels. These tests will take place at Preem’s refinery in Lysekil, which has already been granted a permit to conduct production tests of pyrolysis oil. This oil will be produced at Enviro’s plant in Åsensbruk where Enviro extracts for example oil from end-of-life vehicle tires using its proprietary and patented recycling technology.
Preem is Sweden’s largest fuel company and has high environmental ambitions, for example, the company has communicated its target to produce 5 million cubic metres of renewable fuel and to achieve climate neutrality along its entire value chain by 2035. Pyrolysis oil contains a high percentage of renewable material due to the high amounts of natural rubber found in the vehicle tires, and thus is very suitable for producing environmentally sustainable biofuel.
In early February 2023, Enviro received a follow-up order for pyrolysis oil from the subsidiary of a leading US oil company, valued at approximately MSEK 4.8, which has been communicated by the company. That order followed the successful production tests that the US company made of Enviro's oil, which Enviro had also previously communicated.
“In the past year, we have seen clear growth in interest for our recovered pyrolysis oil driven by increased interest for more environmentally sustainable alternatives and soaring energy prices in the wake of Russia’s invasion of Ukraine. We can also see a trend where customers require larger volumes with deliveries over longer periods,” says Thomas Sörensson, CEO of Enviro.
Enviro’s pyrolysis oil has been certified under the International Sustainability & Carbon Certification (ISCC) EU standard and has received REACH approval. REACH is the European Parliament and Council’s regulation concerning the Registration, Evaluation, Authorisation and Restriction of Chemicals.
For further information, please contact:
Thomas Sörensson, CEO Enviro, +46 (0)735-10 53 43, thomas.sorensson@envirosystems.se
Alf Blomqvist, Chairman of the Board Enviro, +46 (0)733-14 97 00, alf@blomqvistunlimited.com
Mangold Fondkommission AB is Enviro’s Certified Adviser on Nasdaq First North Growth Market Stockholm.
Scandinavian Enviro Systems AB
Frihamnen 16B, SE-417 70 Gothenburg
info@envirosystems.se
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
