Enviro is well-positioned to meet the increased interest in tyre pyrolysis oil.
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.
Q3 2020
· Net revenues for the period were MSEK 0.2 (0.2)
· Earnings after tax for the period were MSEK -12.7 (-10.3)
· Earnings per share for the period (before dilution) was
· Cash flow for the period after investments was MSEK -10.9 (-8.9)
· Enviro and Michelin prolongs Letter of Intent regarding strategic partnership
· Improved market conditions for pyrolysis oil could strongly increase revenues from Enviro's plants
Jan-
· Net revenues for the period were MSEK 1.1 (0.5)
· Earnings after tax for the period were MSEK -36.3 (-31.7)
· Earnings per share for the period (before dilution) was
· Cash flow for the period after investments was MSEK -34.0 (-29.0)
· The company has completed a directed share issue of approximately MSEK 32.5 as part of a strategic partnership with Michelin. Currently, the partnership is considered to contain 4 areas:
· A development agreement
· A share investment total of 20 percent in Enviro after the issue (completed)
· A common project to construct a plant
· A common delivery agreement between Michelin and Enviro
Significant events after end of period
· Enviro expects final partnership agreement with Michelin during the fourth quarter
· Feasibility study investigates conditions for tyre recovery with Enviro's technology in the
· Recovered carbon black from Enviro is introduced in a customer-specific rubber compound from
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
Scandinavian Enviro Systems AB
Herkulesgatan 1K
SE-417 01 Gothenburg
info@envirosystems.se
www.envirosystems.se
This disclosure contains information that
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
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