OU Bamatek retains Iporussia for finance to turn scrap tyres into petrochemicals

By Liz White, ERJ staff

Jericho, New York-Technology to process scrap tyres in Russia and eastern Europe received a boost 11 Oct. when OU Bamatek retained the services of Iporussia Inc., which provides business advice to private companies in the Russian Federation and eastern Europe.

OU Bamatak is an Estonian company which has rights to a patented treatment for producing petrochemical products from the rubber from scrap tyres. Under the agreement Bamatek will give Iporussia a 5 percent fee on any financing received for which Jericho-based Iporussia provides advice.

The Estonian firm has the rights to the reclamation method for northern Europe, and, in a press statement from Iporussia, claims that the systenm uses, "advanced Russian technology for reprocessing scrap tyres that results in the production of fuel oil, technical carbon, and benzene."

OU Bamatek adds that the patented process is waste-free, environmentally friendly and "opens new ways … for utilisation of automobile rubber tyres," to produce petrochemical products.

"We are looking forward to implementing our expansion plans with the assistance of Iporussia," said Nikolay Yakushkin, general director of OU Bamatek, adding that "The financing would provide OU Bamatek with the ability to construct the first-ever tyre reprocessing plant in the Baltic States."