Taaleri and Nowaste to invest in recycling plants in Nokia EIP

Contributed by Peter Lowitt, based on an article available from GlobeNewswireommerce, November 2016

Taaleri and Nowaste Oy will launch circular economy investments in Eco-Industrial Park, Nokia. In the future, vehicle tyres withdrawn from use and recycled plastics will be processed into new, resource smart products. In Finland, around 50,000 tonnes of tyres are withdrawn from use every year. Globally, around 12.5 million tonnes of worn tyres are removed from vehicles every year. Most of the world’s tyres end up in landfill sites.

“Used vehicle tyres have been a waste item for which there has been no sensible form of recycling. In Nokia, we aim to demonstrate the effectiveness of our recycling concept, after which we may expand operations in Finland and worldwide,” says Investment Director Tero Luoma, who is responsible for Taaleri’s circular economy fund, Taaleri Kiertotalous Ky.

Construction work on adjacent plots in Nokia’s Kolmenkulma Eco-Industrial Park has been launched to implement a new type of rubber and plastics processing complex. The Nokia-based growth company Nowaste Oy will invest at the location in a processing plant for vehicle tyres withdrawn from use and recycled plastics, while Taaleri’s circular economy fund will develop in the area a pyrolysis plant in which 7,500 tonnes of recycled raw material per year will be converted into oil, carbon, gas and metal.

The total value of the investments is around EUR 5.5 million. Construction of the plants has begun, and they are due to start operating in summer 2017.

Read the full article here.

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