UK headquartered ReTyre Ltd, has on the 21st May 2024, signed a MOU on a working agreement with the Indian Rubber Materials Research Institute (IRMRI)
IMRI, formerly known as the Indian Rubber Manufacturers Research Association, a department of the Indian Ministry of Commerce, has signed an agreement with ReTyre-Bharat Pvt. Ltd, the Indian counterpart of UK-based ReTyre Ltd.
The MOU is an agreement that IRMRI and ReTyre who affirm their intent for technological research and product development and exchanges as will be of mutual benefit to their respective institutions.
Founder of ReTyre Ltd, Mr. Shravan Bansal says: “With this MOU, ReTyre has taken a leap forwards in the strategic development of the company and its technology. The Indian manufacturing base for its UHP water jetting technology, in collaboration with Siemens, who will be supplying the control systems and service
Network, creates a launchpad for the introduction of a “recycling at source” technology for the tyre recycling sector.”
The MOU is for IRMRI and Retyre Limited exclusively promote a “Recycling at Source” model to minimise the impact of carbon utilisation. IRMRI and Retyre Limited have agreed to make use of their respective strengths and interests, to jointly work with each other to improve the sustainability of recycling in the tyre and rubber industry.
IRMRI’s role will to be to carry out continuous R&D on activR to understand its applications and maximisation of incorporation and to promote the ReTyre recycling technology in India and abroad. IRMRI will conduct testing and evaluation of ReTyre’s materials and provide technical and commercial guidance for the Indian Market.
As the technology is rolled out, IRMRI will organise delegations to conduct study tours and promote the technology at appropriate forums and potential clients.
ReTyre will continue to develop and improve the proprietary UHP water jetting technology to create consistent high-quality value-added materials for reintroduction to the tyre and rubber industries.
ReTyre, furthermore, has agreed to supply machinery and equipment in a specified time frame, and meet required OPEX services.
The MOU has been signed between the parties to minimise impact of carbon utilisation by recycling at source through ReTyre’s proprietary FDPT technology , to achieve the aim IRMRI along with Ministry of Commerce agrees to a number of actions, including amongst other points: Providing funding and Support to ReTyre Bharat to setup a Mass Manufacturing Unit in India to achieve Retyre’s goal towards the “Make in India” and “Swadeshi”, and to exclusively promote the “Recycling at Source” model.
Critically, IRMRI undertakes to consider and recommend ReTyre’s “activR” as a “Green Product” and ultimately to formulate a policy for the mandatory use of the Product “activR” in the industries where the rubber is used in a certain percentage, such as the coatings and tyre industries.
