Local tech company gets boost
Posted Jan 7, 2010 01:54:17 PM.
This article is more than 5 years old.
First Leaside Visions Limited Partnership has invested $750,000 in Tyromer Inc., a client of the Accelerator Centre.
Tyromer is a tire recycling venture using technology developed by a University of Waterloo professor.
CEO Sam Visaisouk tells 570 News they hope to have a local pilot plant up and running by the end of this year.
The plant will recycle some of the 300 million tires that are scrapped in North America every year.
Visaisouk says right now, just a small percentage of tires are recycled.
Tyromer has developed technology to help increase the amount of rubber recycled.
It’s called de-vulcanization, and it takes rubber and makes it re-usable for retreads and new tires.
The pilot plant will get underway inside AirBoss, a rubber compound facility at the old Uniroyal plant in Kitchener.
It will take about six months to build the de-vulcanization machine.
