RUBBER- STAMPED
£ 100m tyre recycling plant for Sunderland approved
Plans to construct a world-leading recycling plant that will put the Wear region at the forefront of sustainable tyre recycling have been greenlit .
Wastefront AS , a Norwegian green energy company backed by energy giant Vitol , was given permission to press ahead with plans to construct the ‘ UK ’ s greenest tyre recycling plant ’ at Port of Sunderland , representing the largest ever investment at the North Sea hub .
Construction on the development is expected to begin this year , with company executives confident that the plant will be in commercial operation by 2024 , creating around 100 skilled jobs once in full operation .
The plant will use commercially operating technologies to convert end-of-life tyres into useful commodities , including biofuels and carbon black , which can then be reutilised in processes such as alternative fuel or raw materials for the production of new tyres or other products .
An estimated 29 million metric tonnes of vehicle tyres reach the end of their lifespan each year worldwide , representing an underreported but major cause of pollution due to their non-biodegradability .
By converting tyre waste into usable commodities , Wastefront offsets carbon emissions , with the alternative enddestination being incineration . Due to the end-products being biofuels and raw materials to be used in new products , the plant will also have a strong alignment to the green taxonomy .
The firm ’ s decision to invest in Port of Sunderland was influenced by co-founder and director Christian A . Hvamstad , an alumnus of the University of Sunderland .
“ We are thrilled to have secured planning approval for this landmark site , which marks a huge step in our efforts to combat the global issue of ELT waste ,” he said .
“ Our ambition is to create a Green Global Industrial Platform for dealing with waste issues , and a crucial element of sustainable waste handling is to be able to do so locally ."
Since unveiling plans for the recycling plant in August 2020 , Wastefront has secured a decisive 10-year supply deal with energy giant Vitol , which will see the world ’ s largest independent oil trader purchase all of the Sunderland plant ’ s available liquid hydrocarbons .
Rob picks up OBE from the Princess Royal
Wear Business consultant editor Rob Lawson received his OBE from the Princess Royal at a special ceremony at Windsor Castle . The former chair of governors of Education Partnership North East was named Officer of the Most Excellent Order of the British Empire in the Queen ’ s New Year Honours 2021 alongside EPNE chief executive Ellen Thinnesen for his outstanding contribution to education .
Sunderland-born Rob was appointed chair of Sunderland College in 2013 and helped guide the institution from a three-campus local college to a regional group following its merger with Hartlepool Sixth Form in 2017 .
“ It was a huge honour and privilege to have been awarded an OBE which is in recognition of the hard work and achievements of everyone at EPNE ,” said Rob .
“ I will never forget the time my wife and I enjoyed at Windsor Castle . Princess Anne
was lovely and spoke about our development of the City Campus in Sunderland and our ambitious plans for Northumberland , both of which she was aware of .”
In 2021 Rob stepped down as chair of trustees after eight successful years at the helm .
A former editor of the Sunderland Echo now a successful freelance consultant , he recently joined business publication Wear Business as consultant editor alongside his roles as a trustee at Sunderland Music , Arts and Culture ( MAC Trust ) and being a Sunderland ambassador .
News
BUSINESS BRIEFS
IN THE ZONE Multi-million pound plans to make swathes of land at Port of Sunderland shovel-ready for development have been given the green light .
The final phase of the port ’ s Enterprise Zone enabling works , funded by the North East Local Enterprise Partnership , is expected to get started at Hendon Sidings – which has been renamed Trinity – by the spring , after a planning application was approved in January .
The work will ready the 11-acre site – which enjoys unrivalled access to open sea , the rail network and road connections – for the arrival of developers in a wide range of industries and is part of a wider strategy to attract more investment into the municipally-owned hub .
ATOM RAISES £ 75m A mobile lender says it has taken a “ fundamental next step ” on its journey towards flotation after raising more than £ 75m .
Atom Bank achieved the mark following new equity priced at 70p per share .
Bosses say the raise , led by investors BBVA and Toscafund , alongside co-investors Infinity Investment Partners , leaves the Durham-headquartered lender well placed to meet stock market plans .
£ 150K INVESTMENT A County Durham immersive technology company has secured a £ 150,000 investment to transform how customers experience entertainment , sport , visitor attractions , hospitality and retail . n-gage . io has worked with Growth Capital Ventures ( GCV ) to secure £ 150,000 investment to develop the mobile technology platform .
MUSEUM FACELIFT Essential repair works have now been completed at the historic Washington F Pit Museum to preserve its industrial heritage and help sustain its role as a much-loved visitor attraction .
The Grade II listed F-Pit Engine House is one of only ten Scheduled Ancient Monuments in Sunderland and is an iconic landmark that showcases the important history of coal mining in the region .
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