Gunvor Partners with New Energy for Industrial Tire Recycling
- New Energy will supply Gunvor with pyrolysis oil from waste tires.
- The oil will replace fossil-based raw materials in refineries.
- NE-TECH facilities are in Hungary and expanding to Western Europe.
- The partnership supports circular economy and carbon reduction.
Collaboration Overview
Gunvor, a leading commodities trading company, and New Energy, part of the NE-TECH Group, have signed a strategic collaboration agreement. This partnership focuses on advancing the transition toward a circular economy through industrial-scale recycling of end-of-life tires.
Supply and Production
Under the agreement, New Energy will supply Gunvor with pyrolysis oil produced from waste tires at its facility in Dunaharaszti, Hungary. Additional supplies will come from NE-TECH facilities under development in Karcag, Hungary, and other regions in Western Europe.
Environmental Impact
The pyrolysis oil will serve as a feedstock for refineries, replacing conventional fossil-based raw materials. This approach reduces carbon emissions and aligns with circular economy principles by promoting material reuse and waste minimization.
Strategic Goals
The partnership aims to offer both economic advantages and environmental benefits. It represents a significant step toward scalable, commercially viable circular solutions in the energy and chemical sectors.
Source: Gunvor