Symphony Environmental Technologies Plc announced that its Symphony Energy Ltd. subsidiary, as well as other members of a consortium, have accepted the grant of £1.19 million (US$3.7 million) offer by the United Kingdom’s Government’s Technology Strategy Board for the Rubber Product Enhanced Recovery Technology project.
The purpose of the project is to design, build and commercialize machines that can convert scrap tires and other waste products into usuable, valuable commodities. Other members of the consortium include the Imperial College London, ABB Ltd. (Robotics Division), Hughes Pumps Ltd., Credowan Ltd. (Subsidiary of Cobham Plc), and ARTIS (a business of Avon Rubber Plc).
The grant will support a substantial part of the project cost through the consortium, but excludes Symphony Energy’s direct management costs. The project will commence when a Collaboration Agreement has been signed by all members of the consortium, which is expected to take place by the end of this month.
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