Ecolomondo Corporation signed a letter of intent for a joint venture with Alternativas Riojanas Eolicas y Solares S.L. (ARESOL) on December 2, 2024, aiming to build a 20,000 metric tons/year of end-of-life tyres TDP facility in Spain
ARESOL is a business group that develops, executes, and operates renewable energy projects of all magnitude, from conception to installation and operation. Within the company’s expansion plan, Aresol intends to develop and implement several pyrolysis projects for end-of-use tyres in Spain, and for this reason, it chose the Canadian pyrolysis technology developed by Ecolomondo.
Ecolomondo and ARESOL intend to establish a joint venture by forming a new entity jointly owned by Ecolomondo, ARESOL and other interested investors that could emerge. The project will have the capacity to process 20,000 tons/year of end-of-life tyres in a single pyrolysis plant, to produce Tyre Pyrolysis Oil, recovered Carbon black, steel and syngas.
Ecolomondo would provide the tyre pyrolysis technology, and the development-financial aspect will be distributed proportionally between the parties and other possible investors. The overall structure and purpose of the venture are to be negotiated between the parties and will need to be properly documented in the definitive agreements.
“We are excited about this transaction, and we look forward to working with ARESOL. This transaction when completed will be Ecolomondo’s entry into Europe, well in line with the Company’s long-term strategic objectives to become a global company, creating sustainable products from end-of-life tyres”, said Jean-François Labbé, Interim CEO of Ecolomondo.
