Helsinki, 2016-11-04 08:02 CET (GLOBE NEWSWIRE) --
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 In the future, vehicle tyres withdrawn from use and recycled plastics will be processed into new, resource smart products. In Finland, around 50,000 tonnes of tyres are withdrawn from use every year.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 The Nokia-based growth company Nowaste Oy will invest at the location in a processing plant for vehicle tyres withdrawn from use and recycled plastics, while Taaleri’s circular economy fund will develop in the area a pyrolysis plant in which 7,500 tonnes of recycled raw material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.
Reference plant for domestic technology
The Salo-based company Salo Ecomation Oy is responsible for the design and technology of the pyrolysis plant. Ecomation has for many years developed its pyrolysis concept to resolve the global waste tyre problem. The pyrolysis plant to be implemented in Nokia represents advanced pyrolysis technology in which the continuously operating process is energy efficient and easily controlled. The company has pilot plants in Salo and Savonlinna. The Nokia plant will be the company’s first full-scale plant. The Forssa-based company Watrec Oy will be the main contractor for the plant complex.
“A high level of international demand has already been recognised for Ecomation’s technology, which was developed in Finland. Through the Nokia plant, we will obtain a much-needed reference, which will open up new export opportunities, enabling us to take advantage of growing demand,” says Ecomation Oy’s CEO Tommi Pajala.
Tero Luoma, Investment Director, Taaleri Private Equity Funds Ltd, tel. 358 50 344 9993
Tommi Pajala, CEO, Ecomation Oy, tel. 358 400 785 058
Taaleri in brief
Taaleri is a financial house whose parent company, Taaleri Plc, is listed on the stock exchange maintained by Nasdaq Helsinki Ltd. The Taaleri Group consists of three business areas: Asset Management, Financing and Energy. Taaleri’s services are directed at institutional investors, companies and private individuals. The Group’s subsidiaries are: Taaleri Wealth Management Ltd and its subsidiaries, Taaleri Private Equity Funds Ltd Group, Taaleri Investments Ltd Group, Taaleri Energia Ltd and Garantia Insurance Company Ltd. In addition, Taaleri has associated companies, namely Fellow Finance Oyj, which offers peer-to-peer loan services, and Inderes Oy, which produces analyses and investment information.
At the end of June 2016, Taaleri had assets under management of EUR 4.2 billion and around 3,600 wealth management clients. Taaleri Plc has around 2,600 shareholders. The operations of Taaleri are monitored by the Finnish Financial Supervisory Authority.
Further information about our company and services:
Taaleri on Twitter
Taneli Hassinen, Head of Communications and IR, tel. 358 40 504 3321