Perth-based Pearl Global has recently just listed itself on Australian Stock Exchange. A tyre company with their first facility at Stapylton near Brisbane, though those looking for cheap tyres in Brisbane should look someplace else unless they’re looking to get rid of these tyres.
The company has recently been making news thanks to its new technology that many consider as having solved one of the world’s difficult environmental challenges: safely recycling the billions of tyres discarded internationally each year. Current data estimates that number at about 1.1 billion, with Tyre Stewardship Australia expecting the land down under to account for 56 million of those tyres in 2018.
If the technology, which uses a process called thermal desorption to turn discarded tyres into useful products, finds success at a commercial scale, it will lead to far less of tyres being stored and left to anguish in landfills, starting with the many cheap tyres in Brisbane and across WA, then expanding across the country. Additionally, this also means there’s less chances of tyre fires breaking out, like the one at Broadmeadows recently, which took several days for firefighters to deal with, on top of causing respiratory issues for the surrounding locals.
Company Chairman Gary Foster, who owns 24% of all stocks, says that Pearl Global’s new tyre-processing tech is the first of its kind, and superior to other competitors, such as batch pyrolysis, which has been called into question thanks to the process’ toxic emissions. He says that thermal desoprtion meets Europe’s environmental standards and has approval from the Western Australian and Queensland governments.
The technology is currently owned by the 10 people, Mr. Foster included, via another company; Keshi Pty Ltd., and licenced to Pearl Global. According to Foster, Keshi spent about $10 million developing the concept of the Thermal Desorption Units (TDUs), and expects to earn about $600,000 yearly for every TDU Pearl Global operates, of which 32 are planned across Australia within the next four years.
Foster says that there are plans to sell the technology and hand it over to Pearl Global in order to get maximum benefits, whilst avoiding a cash drain.