Tyrewise has launched its first-ever funding round to fast-track market demand for recycled rubber products, with up to $7 million on offer over the next year to help create value from New Zealand’s used tyres.
Expressions of interest are now open until July 29 for innovators and investors keen to develop local end markets for tyre-derived material.
Tyrewise is the country’s regulated product stewardship scheme for end-of-life tyres, working with the wider industry to ensure tyres are collected and diverted from landfill.
The scheme is achieving a high collection rate and is now focussing on developing high-value, best use recycling and repurposing solutions for the tyres, Auto Stewardship New Zealand chair Mark Gilbert says.
“To enable this goal, Tyrewise is providing contestable funding to help develop end markets for the recycled rubber material from tyres in New Zealand.”
Tyrewise aims to see 80% of end-of-life tyres recycled or repurposed into new products domestically by its fourth year of operation, and over 90% by year six.
“Tyres are a versatile resource that can be turned into many products or used in a number of processes, such as roading, playground surfacing, as a substitute for aggregate, or even earthquake-proofing buildings,” says 3R Group’s Adele Rose, who manages the Tyrewise scheme.
“The market in New Zealand isn’t currently big enough though to take all the recycled rubber from tyres which are collected, so the aim of the fund is to stimulate the development of new products and markets here,” she says.
The fund has three streams – research and development, emerging markets, and community development – designed to support a broad range of project stages.
“This allows funding to back projects across the spectrum of the typical phases of product development,” Rose says.
To be eligible, applicants must be registered New Zealand businesses, research institutes, or universities with at least 12 months of operational history and satisfactory environmental, safety and financial records.
“This is a call for expressions of interest. Once we have assessed them, we will ask for a more formal, detailed application,” Rose says. “Kiwis are innovators by nature, so we’re excited to see what ideas are out there to create a circular economy for tyres here at home.”
Go to tyrewise.co.nz for more details.
