Tyre Recycling Solutions expands operations and attracts CHF 4 million in funding

11.09.2023 16:02, Rita Longobardi

In response to rising demand and cost challenges, Tyre Recycling Solutions (TRS) recently secured CHF 4 million in preliminary funding for its CHF 8.5 million Series D financing round. CEO Staffan Ahlgren anticipates potential adjustments to the investment amount based on investor interest and strategic decisions related to recycling partnerships, with the final figure to be revealed by the end of September.

TRS has addressed Switzerland's high operational costs by bolstering production capacity in Turkey, and Spain, and exploring new European partnerships. The objective is to maintain competitiveness and seize growth opportunities in the Middle East and Asian markets.

Ahlgren highlights increasing industry interest in TRS's TyreXol rubber powders and the economic advantages of recycled materials. Currently, TRS solutions find applications in tires, asphalt, and footwear, with a promising collaboration underway with a global footwear materials manufacturer.

TRS has recently inked a memorandum of understanding with LD Carbon, an environmentally conscious South Korean waste treatment and raw materials recycling firm, to establish an initial TyreXol rubber powder production plant using TRS's Water Pulse process. The partnership also involves the production of tire pyrolysis oil and high-quality reclaimed carbon black, satisfying the quality standards of major tire manufacturers.

This collaboration with LD Carbon unlocks numerous opportunities for TRS, to align with its Asian customer base. TRS CEO Sonia Megert emphasizes the significance of a shorter supply chain in the circular economy and expresses excitement about partnering with LD Carbon, a highly skilled and motivated team.

Furthermore, both LD Carbon and TRS share potential customers in Japan and Korea for their respective products, anticipating streamlined approval processes due to the sustainability goals of major tire manufacturers. TRS aims to scale its TyreXol powder production from the current 11,000 tons annually to six times that amount within the next two to three years.


TRS team

TRS participated in Venture Leaders China 2016. “Venture Leaders China was an excellent opportunity to explore the Chinese market. The organisation was just great. We got also good support from the Swiss embassy and from Swissnex,” said Staffan Ahlgren, CEO of TRS.