IVR Mexico has signed a Letter of Intent (LOI) with ProDynamics, the largest tire distributor company in Mexico, to expand tire recycling facilities using IVR’s proprietary tire pyrolysis process. The LOI scope includes jointly expanding tire pyrolysis capacity in Monterrey, Mexico, by an additional 1 million passenger tires, and also establishing additional tire recycling and pyrolysis facilities in other states such as Guadalajara Mexico.
“We’re excited about partnering with ProDynamics, an environmentally forward-thinking organization with access to millions of end-of-life tires (ELT). With 81 tire distribution centers across Mexico, our goal is to setup up tire recycling and pyrolysis facilities alongside their facilities, produce valuable renewables products such as pyrolysis oil, carbon black, recycled steel and gas, all while reducing carbon emissions”, said Sergio Trevino, Managing Director of InnoVent Renewables Mexico. “We look forward to working with InnoVent Renewables to provide sustainable solutions and reduce emissions from ELT that end up in landfills. Our company’s goals perfectly fit with this proyect that will bring renewable solutions to the regions that we have operations, added Joel Cortes, CEO of Prodynamics.
