Harmonic Energy has signed a long-term tire feedstock supply contract with a tire recycling company Enertech in Michigan, US.
The ten-year agreement requires Enertech to provide 200 tons per day which is about 22,000 tires or a total of about 7.5 million tires a year.
Harmonic’s intends to utilize the feedstock from Enertech to remanufacture a percentage of the quality tire casings into new premium passenger and light truck tires.
The tire casings will be converted into clean energy and green commodities using Harmonic’s Tyrolysis system.
Tyrolysis system will further breakdown the tires into core commodities; high grade nano carbon, quality fuel oil and high tension steel.
With about 7.5 million tires locked up in one location this equates to a potential feedstock value of $30m in commodity revenues each year and $300m in commodity revenues over ten years.
Harmonic is focused on tire manufacturing and recycling, using an innovative approach to energy efficiency and sustainability.