GIIB Material Sciences Pte Ltd, a wholly owned subsidiary of GIIB Holdings Bhd (GIIB) has entered into a memorandum of understanding (MoU) with Singapore-based Global Enviro Pte Ltd to collaborate in a field related to end-of-life tyres and rubber waste GIIB is recognised in the retreading market as a key Malaysian source of retreading expertise and materials.
In a filing with Bursa Malaysia, the company said both parties would collaborate in areas such as the offtake and commercial utilisation of recovered carbon black and graphene from Global Enviro’s tyre pyrolysis and advanced recycling operations.
Other areas of joint focus are the development of a shared circular economy framework supported by blockchain-based traceability as well as environment, social and governance metrics.
This move by GIIB further drives the development of the best practice in the pyrolysis sector and is to be welcomed not only for its use of recycled materials, but its enhancement of the perception of the sector
Global Enviro will aslo facilitate GIIB’s market expansion in Singapore, including through engagements with government-linked companies and institutional partners.
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