Wondering what to do with your end-of-life car tyres? Recycle them so that they can become biofuel. (Who says only electric vehicles can win the climate change battle?)
A report by the World Business Council for Sustainable Development found that a billion end-of-life tyres are generated every year, with four billion having already found their place in landfills and stockpiles globally. In many cases, these tyres are burned, emitting toxic gases and messing up the soil and waterways. That’s waste made worse, as these tyres boast plenty of potential and can actually serve as a low-cost, sustainable alternative to fossil fuels. They just need the right minds to make it happen.
Australian environmental tech company Entyr (ASX: ETR) looks like one such mind. The Company completed a capital raise of over $7 million in May 2023, and has now entered the construction phase. It is investing in critical site infrastructure to support its strategic objectives.
At the same time, Entyr will continue tyre collection and primary processing operations. Already, it has progressed in tyre collection, with Entyr reaching its monthly goal of 1,500 tonnes. Currently, six trucks are deployed daily to collect tyres from the customer base, and the Company plans to add an additional truck in the coming months.
Notably, Entyr achieved record-breaking quarterly revenue of $1.5 million during Q4 FY23, marking a significant milestone in its financial performance.
To minimise cash burn during the construction phase, Entyr has adopted a cost-effective approach. The thermal desorption units will be operated only when practical, aligning with ongoing infrastructure development. This strategy has already resulted in a substantial reduction in cash burn in June 2023, excluding infrastructure expenditure. Moving forward, it foresees an increase in planned revenue through continued cost control measures, fostering further improvements in financial efficiency.
Entyr is an environment tech company that focuses on the global waste tyre problem, aiming to wheel the tyres into the circular economy. With its trademark thermal desorption technology, the Company converts tyre waste into fuel, recovered carbon black, steel and gas for industry use.
Entyr’s sustainable practices were showcased through a trial conducted during the Pound Road West Upgrade in Melbourne. This trial, a Victorian-first, utilised Entyr’s recovered carbon product, derived from end-of-life tyres, as a substitute material in road construction. Instead of the traditional fine ground limestone, a 500m section of Pound Road West was paved with high-recycled content asphalt containing Entyr’s recovered carbon product. Fine ground limestone, commonly used as a modifier in asphalt, contributes significant CO2 emissions during its mining and manufacturing process, generating approximately 1.2 tonnes of CO2 per tonne of production.
By replacing it with Entyr’s Recovered Carbon Black, the trial achieved substantial reduction in CO2 emissions during asphalt production (a win for the environment).
Over the past two years, Entyr collaborated with the National Transport Research Organisation (NTRO), conducting validations and road trials across eight locations in Queensland. The results demonstrated that for every tonne of end-of-life tyres processed into Recovered Carbon Black, carbon emissions were reduced by 500 kg.
The successful road trial was a result of teamwork, including the Victorian Government, NTRO, Alex Fraser, Entyr, and Seymour White. It serves as a crucial step in the Company’s future expansion into Victoria.
Entyr’s progression into the construction phase, expansion of operations, and milestones in sustainable road construction gear it up for long-term growth, especially as countries strive to achieve their sustainable development goals.
Alinda is a Business Reporter for The Sentiment
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