Reclaim Industries, a waste tyre recycling company, has formed a joint venture (JV) with a Hong Kong based investor, Mr Shou Zhuo. The JV will enable Reclaim to develop a processing facility that turns waste tyres and plastics into diesel, petrol and other byproducts using a patented pyrolysis technology.
The processing facility is to be built in Adelaide subject to the success of two feasibility studies. It will be capable of recycling 30 tonnes of tyres a day with an output of 12 tonnes of fuel per day. If all goes well recycling of tyres will start in the second quarter of 2008.
The JV will provide the option for Reclaim to replicate similar facilities in other locations over time. Through the partnership with Mr Shou Zhuo Reclaim has access to “the buoyant Chinese market”.
We need more of these types of projects. Any technology that can turn waste into fuel in a cost competitive manner should have no problems getting support from all levels of Government and the Australian people.
Source: ASX via WA Business News
Filed under: Alternative fuel, Synthetic diesel | Tagged: Mr Shou Zhuo, Reclaim Industries
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