Life for Tyres Group Limited, Europe’s largest end-of-life tire recycling company with manufacturing facilities for sustainable commodities, announced it will invest $46 million to establish its first U.S. processing facility on 10 acres at the Port of South Louisiana.
The recycling and manufacturing plant, L4T Louisiana LLC, will convert end-of-life tires into high-quality sustainable commodities such as advanced biofuel feedstock, recovered carbon black and scrap steel. L4T expects to create 46 direct new jobs in St. John the Baptist Parish. Louisiana Economic Development estimates the project will result in 151 indirect new jobs, for a total of 197 potential new jobs in the Southeast Region.
“In addition to the tremendous impact this foreign investment will have on the state and local economies, L4T will support Louisiana-based oil and gas and petroleum chemical companies with high-quality sustainable commodities that help them achieve their carbon management goals," Louisiana Gov. Jeff Landry said.
Life for Tyres Group’s patented technology enables it to manufacture secondary raw materials such as recovered carbon black, green oil and steel, which are then used in industrial processes. The company says its approach reduces up to 90% of greenhouse gas emissions when compared with conventional tire recycling processes.
L4T’s Louisiana facility is part of a broader global expansion plan by the company, which is headquartered in Ireland and recently opened a plant in Puertollano, Spain.
“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," Port of South Louisiana CEO Paul Matthews said. "This project will be a welcome addition to Globalplex, making it a greener and more efficient facility with room to grow.”
To secure the project, the state of Louisiana offered a competitive incentives package that includes the comprehensive workforce development solutions of LED FastStart. It also includes a Performance-Based Grant of $1 million to be used for reimbursement of company expenditures for site improvements. The company is also expected to participate in Louisiana’s Industrial Tax Exemption and Quality Jobs programs.