Clermont-Ferrand, France – At its recent AGM, Michelin Group set out a series of initiatives intended to enhance sustainability of the group's products and activities.
Among the highlighted projects, Michelin said a recent €3-million investment in Swedish tire pyrolysis company Scandinavian Enviro Systems (SES) was part of its strategy to focus on new materials and recycling.
“High-tech materials are essential for Michelin to carry its ‘all sustainable’ strategic vision,” the French group stated in a written Q&A session held alongside its AGM.
In addition, Michelin said it is targeting environment-friendly mobility through a series of technology advances, designed to reduce the energy-consumption of vehicles.
To achieve this, the Clermont-Ferrand-based group is investing further in materials technologies that reduce the rolling-resistance of tires, increase their long-term performance and offer connectivity.
Also aligned with the group’s ‘all sustainable vision’ is Michelin’s investment in a new hydrogen fuel cell production unit in partnership with French automotive supplier Faurecia.
The two entities established a €140-million joint venture company, Symbio, to advance hydrogen technology in 2019.
A new production site, said Michelin 23 June, should be built in 2020 in France to “bring together the sites resulting from this joint venture.”
Michelin said it viewed hydrogen technology as an “essential solution” to major transport challenges such as improving air quality, reducing CO2 emissions and energy transition.
“The hydrogen fuel cell is more particularly suited to intensive use and to those who need of great autonomy. It is therefore perfectly complementary to battery technology,” the French group added.
Michelin has also intensified its sustainability measures with the creation of a social corporate responsibility committee within its supervisory board.
The new Corporate Social Responsibility Committee (CSRC) will be chaired by Monique Leroux, an independent supervisory board member; and will include another member Anne-Sophie de La Bigne, said Michelin in a 24 June statement.