ALBUQUERQUE, N.M.-Titan Technologies Inc. has concluded agreements for the sale of five tire pyrolysis plants in Germany, Portugal, Belgium and the Netherlands. The sales will generate revenues of $12.5 million before the end of the year, Titan said. Performance of the sales agreements is contingent upon the successful operation of a Titan plant to be constructed in Austria.
Earlier this year, the New Mexico recycling research and equipment manufacturer completed a royalty deal with Czech conglomerate Skoda A.C. that will place a Titan-designed plant in Austria.
The plant will come on stream by late 1996 and will be Titan's first venture in Europe. Two Titan plants have been operating since last fall in South Korea.
The Austrian facility will be operated as a joint venture between Semperit A.G., a subsidiary of Continental A.G., and Environmental Solution Agency of Fort Myers, Fla., Titan's European marketing representative.
Titan will receive $2.5 million and a 5-percent royalty on sales of by-products produced at Titan-designed plants in Europe.
Titan's process involves burning tires at 450 degrees Fahrenheit, which Titan CFO Bruce Clark said is more than 550 degrees lower than most pyrolysis systems. The lower temperature reduces the burns on hydrocarbons, resulting in cleaner by-products-oil, carbon black and steel-which can then be sold at a higher price, he said.