Enviro partners with EE-TDF Cleveland

Scandinavian Enviro Systems AB signed a memorandum of understanding with EE-TDF Cleveland LLC, Cleveland, Texas. EE-TDF Cleveland is active in the tire-recycling segment. 

According to an Enviro news release, the agreement remains in effect for about six months, has an option to extend and opens up opportunities for additional joint venture plants with an annual recycling capacity of about 30,000 metric tons of tires. 

“Our ambition is to sign a binding agreement over the next three months and then commence our first plant project in [the second quarter of] 2019,” says Thomas Sörensson, CEO of Enviro.

The initial plant construction is planned for EE-TDF Cleveland’s existing site in Texas, with future plants in Louisiana and Oklahoma. Enviro reports that the memorandum of understanding helps to establish additional plants in these states on the condition that the first plant is established according to plan. 

Sörensson continues, “In the future, Enviro will be prioritizing plants with full or joint ownership. In this instance, we will require joint ownership as part of the transaction, which is something that is also welcomed by our new partner. We see it as something positive to be joint owners in the plants that we establish in that we will benefit from their anticipated returns.”