2 Jul 2008 07:00
2 July 2008
Imperial Innovations Group plc
("Imperial Innovations")
The Recycling Commercialisation Centre signs up Recyclatech
Imperial Innovations Group plc (AIM:IVO), a leading technology transfer and commercialisation company, announces that the Recycling Commercialisation Centre (the "Centre"), managed by Imperial Innovations on behalf of WRAP (Waste & Resources Action Programme), will provide incubation and support services to Recyclatech, a Scottish company focused on the recycling of rubber tyres.
Directives outlawing the disposal of whole and processed tyres in landfills have created a significant market opportunity in the recycling of rubber tyres. Approximately 50 million tyres expire every year and yet there are very few commercially viable, high volume devulcanisation processes which convert recycled rubber into a form suitable for incorporating into new high technology rubber products in significant proportions. As a result, around half of the rubber material derived from waste tyres in the UK is used for low value applications such as replacement for aggregates in engineering applications, or energy recovery in the manufacture of cement. However, Recyclatech, a company based on research carried out at Napier University in Edinburgh, has demonstrated the technical feasibility of a novel micro-biological rubber devulcanisation process. The company is developing a recyclate that can be used in new high value rubber products in greater proportions than currently achieved.
The Recycling Commercialisation Centre, funded by WRAP and managed by Imperial Innovations, aims to support recycling companies and technologies which have commercial potential. The Centre will assist in commercialising the Recyclatech process by:
Providing resources and support for technical testing
Offering assistance with business planning
Identifying sources of funding
Developing the company towards investment readiness
Assisting with the identification of markets and customers
Susan Searle, Chief Executive Officer of Imperial Innovations said,
"This technology has the potential to revolutionize the rubber recycling industry. We look forward to working with the team at Recyclatech."
Bill Findlay, Chief Executive Officer of Recyclatech said,
"Today, valuable applications are sought for end-of-life tyres. Recyclatech has the potential to reuse significant volumes of waste rubber into new tyres and we are very pleased that the development of this technology will benefit from the help and support of the WRAP funded Recycling Commercialisation Centre."
-Ends-
For more information contact:
| Imperial Innovations | |
| Susan Searle, Chief Executive Officer | +44 (0)20 7594 6591 |
| Lucy Ahfong, Marketing Communications Executive | +44 (0)20 7594 6644 |
| M:Communications | |
| Harriet Totty/ Ben Simons | +44 (0)20 7153 1530 |
| JPMorgan Cazenove (NOMAD to Imperial Innovations) | |
| Steve Baldwin | +44(0)20 7588 2828 |
Notes to Editors
About Imperial Innovations
Imperial Innovations is one of the UK's leading technology transfer and commercialisation companies. The company was founded in 1986 and its ordinary shares admitted to trading on the AIM Market of London Stock Exchange plc in July 2006, raising £25 million at an offer price of 365p and £1 million by means of a public offer. In November 2007, the company raised a further £30 million by means of a placing of new ordinary shares with investors.
The company's integrated approach encompasses the identification of ideas, protection of intellectual property, development and licensing of technology and formation, incubation and investment in technology businesses. A wide range of technologies are commercialised within the areas of healthcare, energy, environment and emerging technology trends.
Based at Imperial College London, the company has established equity holdings in 77 technology businesses and is managing 133 commercial agreements as of 31 July 2007. Imperial Innovations also commercialises technologies originating from outside Imperial College through incubation contracts with the Carbon Trust and WRAP and has commercialisation contracts with a number of multinational corporations including BAE Systems.
www.imperialinnovations.co.uk
About Recyclatech
There is a global problem with the disposal of used tyres. Waste rubber tyres are a 'Top Ten' priority waste product in the UK and EU and a recent EU directive means that used whole or shredded tyres can no longer be sent to landfill. Current methods of disposal all have significant drawbacks in either environmental impact or quantities of tyres that can be processed.
Recyclatech have developed a unique patented devulcanisation (sulphur removal) technology which enables the reprocessing of used tyres into reusable rubber, economically, profitably and without any environmental impact. The resulting processed rubber can be used in products that currently require new rubber to be used, at significant cost savings.
The Recyclatech model offers a commercial investment proposition which, due to its environmental impact, allows the company to achieve a variety of revenue streams from not only raw material supply (gate fees) but also a myriad of other product opportunities ranging from the automotive industry to domestic products.