Enviro terminating Infiniteria joint venture agreements

Stockholm, Sweden – Scandinavian Enviro Systems has announced that it is terminating agreements with Infiniteria Europe Sarl and Cuibhil Luxco regarding the collaboration related to the joint venture Infiniteria.

The terminations are made within the framework of Enviro’s ongoing corporate reorganisation, said Enviro 20 March, adding that the notice period is three months.

Enviro launched the ‘reorganisation’ in February as part of a court protection process, following a legal action against it by Infinteria joint venture partners. (ERJ report)

In its latest statement, the Swedish waste tire pyrolysis company said the termination of agreements aimed at releasing Enviro from “burdensome and loss-making commitments that prevent a long-term sustainable business.”

The company said it sought to engage in discussions with the JV company and Cuibhil Luxco “for an extended period of time” with the aim of renegotiating the contractual terms into a “long-term sustainable structure.”

However, it said, the efforts did not result in any agreement and Enviro therefore terminated the agreements.

Following the notice period, the JV company will lose the exclusive right to use Enviro’s patented pyrolysis technology in Europe.

It will also lose access to the management and technical services that Enviro has provided to the JV company.

“The terminations therefore enable Enviro to market its technology globally,” said the company.