ReNewGreen
-
Circular Economy
-
Waste Reduction
- Decent work and economic growth
- Industry, innovation and infrastructure
- Responsible consumption and production
Pitch
Presentation
The tyre industry produces 2 billion tyres a year and is a major source of pollution worldwide. Did you know that in Belgium alone, 85,000 tonnes of used tyres are fed into the existing recycling system? Until now, most used tyres have been shredded, exported or incinerated. Some of these practices have been regulated and are set to disappear or evolve to comply with European and Belgian legislation. Therefore, the existing sector must also evolve. ReNewGreen, a company set up in 2020, has positioned itself as an innovative, circular solution and a better alternative to current practices. The process does not produce any emissions, as all the gas generated is reinjected into the process, which operates in a closed and self-contained circuit.
ReNewGreen is about to inaugurate its Belgian first pyrolysis recycling and recovery plant for used tyres in Feluy (Hainaut). This cutting-edge technology will transform used tyres into marketable products with high added value, while addressing the environmental and economic concerns associated with tyre recycling and recovery.
LITA.co is joining a €38 million equity round, co-financed by public and private actors as well as banks, combining equity and debt, to finance the development and launch of the business. ReNewGreen is offering you the chance to subscribe to a 10% bond to finance their first recycling plant!
Follow the project on:
Team
Management team of 4, operational team under construction. |
Tiziano Baiguera has spent many years in commercial roles across various industries. Throughout his career, he made a clear observation: the tyre sector is a significant polluter, with few solutions regarding its output. After several years of technological research, Tiziano launched ReNewGreen and took on the role of CEO. To meet this challenge, he surrounded himself with Edwin Blairon, a serial entrepreneur who personally invested in the project and serves as part-time CFO, and Alexi Petretta, who is the part-time administrative director. They will be supported by a COO currently being recruited, who will join the project after the fundraising. The operational team will be recruited before the handover of the factory and 35 to 40 jobs will be created.
Challenges
Tyres are a widely used product and a significant source of pollution worldwide, with 2 billion manufactured every year. This quantity is not expected to decrease in the short term, as vehicles become heavier, increasing the number of used and discarded tyres. Current practices for managing used tyres in Belgium and neighbouring countries have evolved positively, but the recycling sector still focuses on reuse with little added value. Given the number of discarded tyres and the limited resources on the planet, it is urgent for the recycling chain to offer options that allow materials to be extracted for industrial reuse and limit the extraction of new resources. As of April 2024, all tyre waste must be processed in Europe, making a shift in approach imperative.
Solutions
ReNewGreen positions itself as a pioneering actor in an emerging multi-level sector: the collection, shredding and recycling of tyres by pyrolysis. Using the pyrolysis technique, the company transforms tyres into high value-added products. ReNewGreen meets the alternative needs of the petrochemical and tyre manufacturing industries by producing high value-added outputs. These are used in practical applications within industrial processes. During the pyrolysis process, the operation occurs in a completely closed circuit and works through the reuse of gas produced from the pyrolysis of tyres. Therefore, the plant will only marginally contribute to greenhouse gas emissions. ReNewGreen's activities will create 35-40 jobs in the Walloon Region to support the plant's activities. Finally, both tyre manufacturers and retailers are responsible for the end-of-life of their products. By recycling tyres, ReNewGreen offers them an easy solution for collecting their used tyres while enhancing the sector’s circularity.
Economic model
The company's business model is based on two sources of revenue:
Firstly, through the sale of outputs to the petrochemical industry and tyre manufacturers. Thanks to the shredding and pyrolytic recovery of tyre residues, based on 20,000 tonnes processed per year, ReNewGreen will produce the following outputs: approximately 4,000 tonnes of high-quality steel from tyre reinforcements. 8,000 tonnes of pyrolysis oil to be supplied to the BASF group; 6,400 tonnes of Recycled Carbon Black (rCB) to be reused as raw material. Given the environmental challenges, the petrochemical industry faces the obligation to decarbonise. Many players are investing massively in research to incorporate recycled products and convert their facilities to use these recycled outputs. At the same time, the tyre industry is required to integrate a minimum number of recycled materials into their tyres, starting in 2025. There is strong demand for the various outputs sold by ReNewGreen, and this demand is set to increase over the next few years.
Secondly, through the recovery of used tyres from local tyre collectors. Both the collectors and the tyre manufacturers pay ReNewGreen for the recovery of collected tyres and production scrap and transfer part of the eco-contribution to ReNewGreen, which handles the end-of-life of the tyre. The LOIs gathered from the various players have made it possible to secure, in the immediate vicinity of the plant, a quantity exceeding the plant's initial capacity.
Long term impact
ReNewGreen SA is preparing to open the first pyrolysis recycling plant for used tyres in Belgium, an innovative and environmentally friendly response to the problem of used tyres.
● Setting up a sustainable, circular and local recycling network in the Walloon region. The company has European ambitions, planning to open several plants in Europe to become a major player in tyre recycling.
● Development of a job-creating industry: each site will create 35-40 full-time jobs.
● Contribution to the circularity of products with high raw materials consumption: the development of pyrolytic technology addresses the environmental challenges of finite resources and the need for materials to be circular.