Wastefront enters exclusive project delivery partnership with Devaltec
Norway-based tyre recycling startup Wastefront AS has announced an exclusive long-term project delivery partnership with US-headed international renewable energy project development, consultancy, and due diligence experts Devaltec LLC. First introduced to Wastefront by the Netherlands-headed energy and petroleum trader Vitol Group in 2019, Devaltec will now act as the primary strategic partner to Wastefront and will co-lead the development of all upcoming projects for the next five years.
According to a statement, Devaltec is contracted to successfully deliver production from multiple plants of minimum 1 000 tonnes per day, commencing with Wastefront’s first waste tyre recycling plant in the UK’s Port of Sunderland, due for completion in 2023.
Founded in Houston, Texas (TX) in 2017 by its CEO Vianney Valès, a former top executive in Oil & Gas in Shell and Galp Energia, Devaltec helps companies and their investors monetise their involvement in sustainable energies. It does business in areas such as waste recycling, advanced biofuels, renewable power, blue hydrogen, renewable natural gas (RNG), biorefineries and optimization of oil refineries.
With a rigorous approach to project management ensures systematic mitigation of risks while maximising profitability, Devaltec’s team equips Wastefront with a wealth of experience in bringing innovative projects and technologies to commercial success.
Wastefront has built solid foundations to be an international leader in the recycling of wastes into valuable products. Devaltec is looking forward to this exclusive project delivery partnership. It brings together two companies with complementary skills, able to capture significant value in sustainable energy and waste recycling, commented Vianney Valès, CEO of Devaltec.
Off-take agreement with Vitol Group
The announcement follows the recent announcement that Wastefront had secured a 10-year offtake agreement with Vitol for the production of liquid hydrocarbons and certain non-liquid products due to be produced at the Sunderland plant and future plant sites.
Wastefront’s plants will be the first to combine conventional technologies with the company’s own proprietary process, which will minimise the environmental impact typically associated with traditional tyre pyrolysis.
The company’s pyrolytic reactors comply with all local environmental regulations and the technology meets with the emissions levels and specifications established by the European standards. The gas purification system removes pollutants, organic compounds and harmful solid particles without releasing unwanted by-products into the environment.
ELTs, an underreported environment hazard
According to Wastefront, the estimated 29 million tonnes of vehicle tyres which reach the end of their lifespan each year represent an underreported but major cause of pollution due to their non-biodegradability. By converting tyre waste into usable commodities, Wastefront offsets carbon emissions, with the alternative to recycled commodities being crude oil.
Wastefront’s ambition is to become the world leader on tyre recycling, building a profitable growth company while at the same time solving a global environmental problem. In order to achieve this, we will partner with the very best in the industry. We believe Devaltec’s industrial background and project experience will play a key part in realising Wastefront’s potential, so I’m excited to be able to announce this strategic partnership, said Inge Berge, CEO and Co-Founder of Wastefront.