Tyre recycler Green Distillation Technologies, which has developed world-first technology that transforms old tyres into oil, carbon and steel, has received approval for their proposed Toowoomba plant from the Queensland Department of Environment and Science.
GDT’s Chief Operating Officer Trevor Bayley has said that they expected the actual development approval for construction of the plant to come before the Toowoomba Regional Council before the end of the month.
Green Distillation Technologies, an Australian unlisted public environmentally friendly tyre-disposal firm, is close to finalizing an AUD 20m (USD 14m) capital raise to complete construction of local plants but is receptive to further approaches from investors or advisors for global plant development opportunities, CEO Craig Dunn said.
The Melbourne-based company is in advanced discussions with two unnamed Japanese trading houses it has been negotiating with for some months as well with an unnamed Australian party to raise AUD 20m in debt and new equity, Dunn said.
Tyre recycler Green Distillation Technologies, which has developed world-first technology that transforms old tyres into oil, carbon and steel, has moved to try and remove some of the confusion about how their process is described.
Their Chief Operating Officer Trevor Bayley has said that many people have described their process as ‘pyrolysis’ although there are very significant differences between what they do and what most people understand pyrolysis to be.
The projected estimate of more than one million old tyres in the Toowoomba area will create a massive environmental problem according to Trevor Bayley, the Chief Operating Officer of Green Distillation Technologies, the Australian company with world-first technology that can recycle end-of life tyres into oil, carbon and steel which is planning to open a plant in Toowoomba next year.
“End-of-life-tyres are one of those environmental problems that we seem to choose to ignore, but if you start to imagine what one million old tyres will look like you start to understand where we coming from.
Green Distillation Technologies, the Australian company with world-first technology that can recycle end-of life tyres into oil, carbon and steel and is planning to open a plant in Toowoomba next year, will hold their Annual General Meeting at the Burke & Wills Hotel, 554 Ruthven Street, Toowoomba, on Tuesday, 30 October.
The following story was originally published at https://www.mergermarket.com – republished here with permisson:
Green Distillation Technologies, an Australian unlisted public environmentally friendly tyre-disposal company, is exploring options, including an IPO, to build plants and sell its technology in global markets, Chief Executive Officer Craig Dunn said.
The Melbourne-based company is investigating opportunities in multiple countries in markets like the US, UK and the Middle East, Dunn said. It has its own unnamed lawyers assisting but is happy to hear from advisors with opportunities and suggestions, he said. Read More
World-first tyre recycling technology developed by Green Distillation Technologies is on display as part of the Innovation Wall at the Recycling Discovery Hub which has opened at the Materials Recycling Facility at 1 Recycling Road, Hume, ACT.
The display is part of a showcase of new technology solutions and shows a section of tyre, examples of the oil, carbon and steel that are created as a result of the GDT destructive distillation process.
The Innovation Wall exhibition is permanent and allows school and community groups to receive tailored education programs and understand waste and recycling activities that are undertaken in the ACT.
After a further pre-lodgement meeting in Toowoomba yesterday with Queensland Government officials plans for construction of the plant to recycle old tyres into oil, carbon and steel are on track for commissioning of the first module next April.
The plant will be operated by Green Distillation Technologies, an Australian company that has developed a unique process that will recycle old tyres into valuable oil, carbon and steel, which makes it an outstanding example of the ‘circular economy’.
The plant is expected to process 19,300 tonnes, or a mix of 658,000 car and truck tyres per year, to yield approximately 8 million litres of oil, 7,700 tonnes of carbon and 2,000 tonnes of steel.
A pre-lodgement meeting has been held with Toowoomba Regional Council to determine the planning steps to be taken for the construction of a plant to recycle old tyres into oil, carbon and steel at the Wellcamp Business Estate in Toowoomba using world-first environmentally friendly Australian technology.
The plant will be operated by Green Distillation Technologies, an Australian company that has developed a unique process that will recycle old tyres. The plant is expected to process 19,300 tonnes, or a mix of 658,000 car and truck tyres per year, to yield approximately 8 million litres of oil, 7,700 tonnes of carbon and 2,000 tonnes of steel.
New research has been conducted into the performance and emissions of oil from recycled tyres in a 2.5 litre diesel vehicle under real-world operating conditions.
The tests were conducted on a 2017 Hyundai iLoad van, a vehicle size that is used for city deliveries and as a people mover and has an engine capacity comparable to that widely used in light commercials, SUVs and 4WDs.
