WESTPORT, Conn. (Jan. 12, 2012)—Tirex Corp., owner of the patented TCS tire recycling technology, has entered into a joint venture agreement with Wyoming Corporate Headquarters of West Columbia, S.C., to recycle scrap tires.
Under the agreement, WCH will use Tirex's TCS-2 system in the tire recycling facility it plans to establish in Memphis, Tenn., for its majority-owned subsidiary Altgen L.L.C. WCH recently obtained a license from the State of Tennessee to collect, store and process scrap tires at a 100,000-sq.-ft. site in the Memphis area, according to a Tirex.
The Tirex Cryo System, or TCS, freezes scrap tire pieces with cold air, instead of the expensive liquid nitrogen used in most cryogenic operations, Tirex said. The system fractures the frozen rubber into granules in a patented “fracturing mill,” and separates marketable strands of steel and fiber from the rubber, the company said.
JECC, an engineering firm based in Quebec, will design and fabricate the TCS-2 system for the Altgen plant, Tirex said. The cost of building the system is estimated at $7.5 million, subject to financing.
“Since we own 25 percent of the joint venture, revenues to Tirex could be significant in 2012,” said John L. Threshie Jr., Tirex president.