ReTyre Ltd Signs Landmark Agreement with Indian Rubber Materials Research Institute

UK-based ReTyre Ltd has signed a Memorandum of Understanding (MOU) with the Indian Rubber Materials Research Institute (IMRI) on 21st May 2024. This agreement marks a pivotal step forward in the collaborative efforts between the two organisations, aiming to enhance technological research and product development in the tyre recycling sector.

IMRI, previously known as the Indian Rubber Manufacturers Research Association and operating under the Indian Ministry of Commerce, has partnered with ReTyre-Bharat Pvt. Ltd, the Indian subsidiary of ReTyre Ltd. The MOU outlines a commitment to mutual technological advancements and product development, benefiting both institutions.

Shravan Bansal, the founder of ReTyre Ltd, commented on the partnership: "With this MOU, ReTyre has taken a leap forward in the strategic development of the company and its technology. The Indian manufacturing base for our UHP water jetting technology, in collaboration with Siemens, who will be supplying the control systems and service network, creates a launchpad for the introduction of a 'recycling at source' technology for the tyre recycling sector."

The agreement focuses on promoting a "Recycling at Source" model to minimise carbon utilisation. ReTyre and IMRI will leverage their respective strengths and interests to improve the sustainability of tyre and rubber recycling. IMRI's role includes continuous R&D on activR, understanding its applications, and maximising its incorporation while promoting ReTyre's recycling technology both in India and globally.

As part of the MOU, IMRI will conduct testing and evaluation of ReTyre’s materials, providing technical and commercial guidance for the Indian market. The institute will also organise delegations for study tours and promote the technology at relevant forums and to potential clients.

ReTyre, on its part, will continue to develop and refine its proprietary UHP water jetting technology to produce consistent, high-quality, value-added materials for reintroduction into the tyre and rubber industries. Additionally, ReTyre has committed to supplying machinery and equipment within specified timeframes and meeting the required operational expenditure services.

The MOU also outlines the Indian Ministry of Commerce's support, including funding and assistance for ReTyre Bharat to establish a mass manufacturing unit in India. This aligns with the "Make in India" and "Swadeshi" initiatives and underscores the exclusive promotion of the "Recycling at Source" model.

Furthermore, IMRI is set to consider and recommend ReTyre's activR as a "Green Product," with the ultimate aim of formulating a policy for its mandatory use in industries such as coatings and tyres where rubber is a key component.

This partnership between ReTyre Ltd and IMRI represents a significant stride towards achieving sustainable tyre recycling practices and reducing the environmental impact of the rubber industry.

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