Iona Capital finances recycled tyre plant

ERJ staff report (LMH)

London -- Iona Capital has invested in Gradena Ltd, a joint venture company between Gradsol Ltd and Dena Technology Ltd, which will manufacture wood replacement goods from waste tyres and recycled UPVC using a patented process called nano surface intensification.

Dena is a provider of nanotechnology solutions while Gradsol is a management consultancy company that specialises in sustainability and operational consultancy, particularly in the waste sector.

Iona Capital is helping to develop new facilities for the re-use and recycling of waste tyres in response to the EU Landfill Directive, which prohibited disposing of whole tyres to landfill from July 2003 and was extended to cover shredded tyres in July 2006.

Gradena is planning to process around 1200 tonnes of waste tyres in year one and increase this number by installing more production lines. The end product can be moulded and cut into a wide range of shapes to meet customer needs and will have specific physical and chemical properties that make it more desirable than natural alternatives, Iona said. The wood replacement product will be far less susceptible to degradation from adverse conditions such as heat, cold, dampness, wind, insects and UV. At the end of their life cycle Gradena products can be recycled.

“Iona is fully committed to providing funding for the development of environmental projects which help to achieve the zero waste to landfill target. This project is an excellent example of supporting leading edge technology and producing value added products which overcome the growing issue of waste tyres,” said Nick Ross, Director of Iona Capital.

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News release from Iona Capital