DAVOS, Switzerland — Granulated rubber powder producer Lehigh Technologies has been recognized by the World Economic Forum for its "continued work upcycling end-of-life tire materials."
Atlanta-based Lehigh Technologies, a subsidiary of Group Michelin since 2017, won the Young Global Leaders Award for Circular Economy in the small to medium-sized enterprises category for The Circulars 2019.
The Circulars is an initiative of the World Economic Forum and the Forum of Young Global Leaders in collaboration with Accenture Technology.
The award recognizes companies dedicated to innovation in the circular economy sector, according to Lehigh, a manufacturer of "micronized" rubber powders (MRP) from end-of-life rubber.
"Tires made with Lehigh's MRP have better average fuel economy compared to tires made of less technological rubber powder and have saved a total of 20 million passenger car tire equivalents from landfills in more than 10 years," it said.
According to the release, Lehigh MRP ensures sustainability and stability in manufacturing costs for the tire industry and reduces dependence on oil-based chemicals.
Lehigh will receive the award at a ceremony at the World Economic Forum meeting in Davos, the release said.