"We are very excited about expanding our operations in the U.S. in the state of Louisiana and being part of its energy transition," said Life for Tyres Group CEO Tilen Milicevic.
Milicevic said the area has the upstream and downstream partners required for L4T to be successful, from an abundant feedstock of scrap tires to the many end-use clients that exist along this 80-mile stretch of chemical companies between Baton Rouge and New Orleans.
"A strong industrial ecosystem, availability of qualified personnel and suppliers (and) excellent connectivity ... are just a few of the many reasons why L4T Group decided for Louisiana to be home to our first investment in the U.S.," Milicevic said. "We are looking forward to a long and fruitful partnership with the Port of South Louisiana and to being good corporate citizens for the state of Louisiana."
According to L4T, its patented tire recycling processes use 90 percent less GHG than "conventional processes," and the company sells its oil, rCB and steel scrap back into the industrial production stream.
L4T is headquartered in Ireland. Its most recent tire recycling expansion project was in Puertollano, Spain.
"At the Port of South Louisiana, we have made environmental sustainability a pillar in our mission as we seek private investments that not only create jobs for River Region families, but are also safe for our community," said Paul Matthews, Port of South Louisiana CEO. "The first of its kind in the nation, L4T Louisiana will be a world-class, carbon positive facility where Louisiana's workers will produce high-quality, totally sustainable commodities."
Incentives helped establish the project in Louisiana, according to state officials.
The state leveraged its work force development solutions available through LED FastStart, as well as $1 million for reimbursement of company expenditures at the Port of South Louisiana location.
Industrial tax incentives also were issued to L4T.
"We are thrilled to welcome Life for Tyres to the Greater New Orleans region, creating economic growth and new jobs in St. John the Baptist Parish," said Michael Hecht, president and CEO of Greater New Orleans Inc. "The company's innovative process not only helps put discarded tires back into commerce, it transforms them into sought-after biofuel products that help prove that Louisiana will be the all-of-the-above energy state of the future."
Life for Tyres Group was founded in 2017 and has been issued at least five patents for its processes in depolymerizing tires.
Louisiana Economic Development has attracted more than $25 billion in capital investments to the region, creating 19,000 new and retained jobs.
Founded in 1960, the Port of South Louisiana is a 54-mile port district on the Mississippi River between New Orleans and Baton Rouge, encompassing the parishes of St. Charles, St. John the Baptist and St. James.
The Port of South Louisiana is the No. 1 U.S. grain export location and No. 2 U.S. energy transfer port.
The port is home to seven grain transfer facilities and four major oil refineries.
