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SCANDINAVIAN ENVIRO SYSTEMS AB (PUBL)

(SES)
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Enviro's CEO joins panel in conjunction with Michelin and Bridgestone presentation on how recovered carbon black can improve the tyre industry's sustainability

11/24/2021 | 05:49am EST

The CEO of Scandinavian Enviro Systems (Enviro), Thomas Sörensson, on November 22 participated in a panel of CEOs when tyre manufacturers Michelin Group and Bridgestone Corporation presented how the tyre industry can improve its sustainability by using more recovered carbon black. The presentation was given at Smithers Recovered Carbon Black Conference, an international conference in Amsterdam for the tyre and rubber industry. 

N.B. The English text is an in-house translation of the original Swedish text. Should there be any disparities between the Swedish and the English text, the Swedish text shall prevail.

In the joint presentation, Michelin and Bridgestone both highlighted the environmental advantages of the increased use of recovered carbon black and explained how this could become a reality. The companies also invited operators from different parts of the value chain within the tyre and rubber industry to participate in what they called "the shared journey toward increased material circularity."

"It's incredibly encouraging that two competitors, and two of the largest tyre manufacturers in the world at that, are joining forces in an appeal to the tyre industry to accelerate the transition to recovered carbon black," says Enviro's CEO, Thomas Sörensson in a comment.

Thomas Sörensson was one of the five participants in the panel, which was put together to raise the issue of how to increase sustainability in the tyre and rubber industry. Sörensson stressed that in the light of the recent IPCC report and COP-26, Enviro as a sustainability enabler in the value chain needs to increase the pace in the transition. Sörensson also reported on Enviro's plan to, by establishing new plants by 2030, increase the total recycling capacity for end-of-life tyres to 90,000 ton per plant and year.

"Thanks to our technology, several players in the tyre and rubber industry have already increased their sustainability. As we expand our industrial footprint, we'll be able to contribute even more to this transition that we're seeing all industries striving for," continued Thomas Sörensson.

In September, Enviro was the first company in the world to have its recovered carbon black certified under the International Sustainability & Carbon Certification system (ISCC).

The French company Michelin and the Japanese company Bridgestone collectively account for nearly 30 percent of the global tyre market and have both announced very ambitious goals in terms of reducing their environmental impact. Michelin, which is also Enviro's single largest owner, announced its intention to be a world leader in sustainability and for its tyres to be entirely sustainable by 2050. Bridgestone has announced its goal that its tyres will consist entirely of recovered material by 2050 and that eventually all of the tyres that they manufacture will be recovered. Today, less than 1 percent of the carbon black used in tyre production comes from recovered end-of-life tyres. Close to a billion end-of-life tyres are discarded around the world every year.  

For further information, please contact: 
Thomas Sörensson, CEO of Enviro, +46 (0)735-10 53 43, thomas.sorensson@envirosystems.se
Urban Folcker, Enviro CFO, +46 (0)760-00 13 11, urban.folcker@envirosystems.se
Alf Blomqvist, Chairman of the Board of Enviro, +46 (0)733 149 700, alf@blomqvistunlimited.com

Mangold Fondkommission AB, +46 (0)8 503 01 550, ca@mangold.seis Enviro's Certified Adviser on Nasdaq First North Growth Market Stockholm.

Scandinavian Enviro Systems AB 
Herkulesgatan 1K
SE-417 01 Gothenburg
info@envirosystems.se 
www.envirosystems.se

Enviro is a company developing, building and operating industrial plants for material recovery from End of Life Tyres (ELT). The company has developed a process, based on a patented technology, where gas generated in the process is heating the tyres in absence of oxygen. This enables the materials in the tyres to decompose and be recovered instead of incinerated. Thus, a sustainable recovery of the resources Carbon black, Oil, Steel and Gas is obtained. The products are used in new products, replacing fossil resources to help the customers reach their sustainability targets. Enviro was founded in 2001, has its head office in Gothenburg and runs its own plant for ELT tyres in Åsensbruk, Sweden. The company is listed on the Nasdaq First North Growth Market with Mangold Fondkommission AB, tel. +46 (0)8 5030 1550, ca@mangold.se, as its Certified Advisor. www.envirosystems.se

https://news.cision.com/scandinavian-enviro-systems/r/enviro-s-ceo-joins-panel-in-conjunction-with-michelin-and-bridgestone-presentation-on-how-recovered-,c3459789

https://mb.cision.com/Main/9805/3459789/1501010.pdf

(c) 2021 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2020 1,51 M 0,16 M 0,16 M
Net income 2020 -50,0 M -5,33 M -5,33 M
Net cash 2020 35,6 M 3,80 M 3,80 M
P/E ratio 2020 -26,2x
Yield 2020 -
Capitalization 1 037 M 111 M 111 M
EV / Sales 2019 103x
EV / Sales 2020 885x
Nbr of Employees 23
Free-Float 69,6%
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Managers and Directors
Kjell Thomas S÷rensson Chief Executive Officer
Urban Folcker Chief Financial Officer
Alf Arne Blomqvist Chairman
Bengt-Sture Ershag Manager-Research & Development
Olov Ershag Chief Operating Officer
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