Enviro marks new milestone in Uddevalla waste tire pyrolysis plant

Gothenburg, Sweden – Scandinavian Enviro Systems has received SEK 11.75 million (€1 million) in milestone compensation for advancing the joint venture waste tire pyrolysis project Infiniteria.

The payment covers Enviro’s "continued responsibilities" in the ongoing construction work at the industrial-scale end-of-life tire (ELT) recycling plant in Uddevalla, Sweden.

Responsibilities include procurement and installation of process equipment, as well as documentation and engineering work on the plant’s “blueprint”, said Enviro 9 June.

As with previous milestone payments, half of the amount was in cash, and the other half was in shares in Infiniteria.

According to Enviro, the milestone reflects “a new maturity stage” in the construction, with steel installation in key areas completed and critical equipment in place.

To date, Enviro has received SEK161.8 million in milestone compensation for the Uddevalla project, including historical costs.

Of that amount, SEK80.9 million has been used to acquire shares in Infiniteria, a joint venture between Antin’s NextGen Fund, Enviro and Michelin.

Enviro is expected to receive a total of SEK219 million in milestone payments over the course of the project.

The final payment is due upon reaching the provisional acceptance certificate (PAC), currently expected in mid-2026.

PAC will be granted once the facility has demonstrated sustained operation at around 65–70% of its capacity.

At that point, Infiniteria will assume full responsibility for the facility and customer deliveries, currently valued at over SEK2 billion.

The latest payment brings Enviro’s total stake in the JV project to 7.3% of the capital and 8.7% of the votes.

Enviro also holds an option to increase its stake to around 30%. The option is valid until six months after PAC is achieved.