Today, Wastefront AS announces a strategic collaboration with VTTI, a prominent global energy storage infrastructure provider. The partnership involves an investment of up to $43 million and aims to finalize the decision on establishing eight sites worldwide within the next five years.
VTTI, backed by energy and infrastructure leaders Vitol and ADNOC, is a major player in independent energy storage infrastructure, operating key facilities across the globe. The investment in Wastefront and future plant ventures aligns with VTTI's global growth strategy, focusing on circular products and aiming to conduct over 50% of its activities in new and transitional energy sources by 2028.
The collaboration between Wastefront and VTTI takes two primary forms. Firstly, VTTI will invest up to $43 million in Wastefront to support the construction of the initial phase of Wastefront's plant in Sunderland. Secondly, site surveys will be conducted to determine the locations of eight jointly owned VTTI-Wastefront plants, where Wastefront's solution will be implemented and operated by VTTI. Leveraging VTTI's expertise, global presence, and terminal locations will accelerate Wastefront's deployment efforts.
Wastefront has developed a Blueprint to address the global challenge of disposing approximately 31 million metric tonnes of End-of-Life-Tyres (ELTs) annually, which pose significant environmental
