Tyre Recycling Solutions and Trinseo form commercial partnership to accelerate the development of sustainable synthetic rubber tire formulations

28.10.2020 16:49, Guillaume Tinsel

Trinseo, a global materials solutions provider and manufacturer of plastics, latex binders and synthetic rubber, has reached definitive agreements with Venture Leaders China alumni Tyre Recycling Solutions (TRS) on a commercial collaboration and an equity investment in TRS. The transaction is expected to close later this quarter, subject to ordinary closing conditions.

The new collaboration agreement will see the two companies collaborate on research and development, pooling their combined technology expertise to help global tire manufacturers develop more sustainable tire formulations. Trinseo and TRS, which CEO and Co-Founder Staffan Ahlgren participated in Venture Leaders China in 2016, share the long-term goal of developing new value-creating systems for the manufacture of tires that reduce environmental footprint and create a sustainable outlet for end of life tires.

Staffan Ahlgren, Chief Executive Officer, TRS, commented: “TRS has already been working closely with Trinseo for several years and we are excited to enter the next phase of our collaboration. TRS has developed proprietary technologies to process end-of-life tires and deliver output products with higher circular economical value. The partnership with Trinseo is confirmation of the great strides we’ve made since the company was founded seven years ago.” 

The investment is aligned and consistent with Trinseo’s recently announced 2030 Sustainability Goals which outline the company’s focus on tackling climate change, embedding sustainability in its product portfolio, promoting supplier and operational stewardship, and embodying responsibility as an employer. Launched to coincide with the company’s ten-year anniversary, these long-term goals are now at the heart of the company at every level

Source: Trinseo and TRS Press Release

We enjoyed this opportunity to interview Staffan Ahlgren about his entrepreneurial path.

How will this commercial partnership help achieve your vision? 
Trinseo will be able to commercialize 65% of our branded “TyreXol “CW rubber powder, an output from the tread of a scrap tyre that needs our unique Water Pulse Technology. TRS will gain 2 to 3 years of marketing efforts through this commercial agreement with Trinseo.

You participated in Venture Leaders China in 2016. How did it leverage your fundraising strategy?
It was very useful to learn about Chinese business culture. For me, it was my first trip to China, and to create all contacts under the Swiss flag with Venturelab and swissnex China was just incredible. Today, we are setting up our first Joint Venture structure in China, and are supported by our Chinese private investors who invested CHF 6 million in spring 2018. We have two Chinese on our board of Directors and we are starting selling our branded rubber Powder “TyreXol CW” already to one of the major truck tyre manufacturers in China. 

When, and what, was your inspiration to found TRS? 
After more than 20 years in the Private Equity industry, I decided in 2013 to launch a start-up company with my partner and Co-Founder Pierre Kladny who is also a serial entrepreneur. We very much focused on the CleanTech and Recycling sector since 2009 and we did our own marketing and DD studies for 4 years in this sector before setting up TRS and raising the first million. With years of experience, we were able to control the execution of this venture, as well as to raise the necessary funding through our own network of potential investors.
I am an entrepreneur since my first years I started to work. At 28 years old, I was the CEO of a Swedish office furniture company and since then I have done 12 completely different jobs, a long learning curve, with a lot of risks and hard work.

What is your advice for the potential cleantech entrepreneurs launching companies in Switzerland today? 
Raise money outside Switzerland, meet family offices, pitch in conferences, use the “Swiss” branding which is well perceived, be persistent, act as a street-fighter, and NEVER GIVE UP!