One of the organizers of InnoVEX, Taipei Computer Association (TCA) stated that opportunities from circular economy have driven VC investments in startups focusing on sustainability and circular economy. During the InnoVEX 2024 Pitch Contest, Taiwan Polymer Material Company (t.p.m.c.) was announced as the winner of the InnoVEX Pitch Contest 2024 Grand Prize, Business Startup Support Centre (BSSC) Award, PwC Award, and KPMG Award.

The Global Circular Economy Market will Surpass USD 1 Trillion in 2030 with a Double-Digit Compound Annual Growth Rate

According to a report by Next Move Strategy Consulting, the global circular economy market reached USD 556 billion in 2023 and is expected to grow to USD 1.3235 trillion by 2030 with a compound annual growth rate (CAGR) of 13.2% from 2024 to 2030. A different report by Future Data Stats predicts that the global circular economy market size reached USD 1.21 trillion in 2023 and is predicted to reach USD 2.53 trillion by 2030, with a CAGR of 283.8% between 2023 to 2030.

TCA stated that the different numbers reported by the research companies are very likely due to the different methodologies they utilized. However, the overall data showed a uniform trend that circular economy has become the main strategy for sustainability in both enterprise and government in order to promote waste recycling and carbon reduction in the production process. At the same time, circular economy has also provided opportunities for startups.

t.p.m.c.'s Unique Technology Processes Waste Tires into High Activity Rubber Powder Materials

The t.p.m.c. stated that the global output of waste tires has exceeded 30 million tons annually. Tires today are not only made of rubber, but also metal mesh, vulcanized rubber, and other materials that are not only difficult to recycle, but also pose environmental risks and hazards. In addition, the activity of recycled rubber powder from scrap tires using traditional recycling processes is commonly less than 25%, so less than 5% of it can be reintroduced to tire production lines.

The t.p.m.c's exclusive patented recycling technology can convert waste tires into highly active and high-value recycled rubber materials and valuable metals. Waste tires are processed with their Ultra-fast Flow Technology (UFT) to increase the polyisoprene activity in the rubber powder. The resulting product, called R-ESG-Rubber meets or even exceeds the requirements for tire additives outlined by the GB/T15904-2020 standards. The R-ESG-Rubber can be added to the tire production process while at the same time reusing waste tires in a beneficial way. This will not only reduce carbon emission from the raw materials, but also reduce the carbon footprint of the tire production industries.

A production line using the t.p.m.c's processing technology can generate close to 5000 tons per year at a powder size of 60 mesh (approximately 250μm) at an absolute activity rate of over 36%, which is far better than the result from TRS (Switzerland), RJV (Italy), or other conventionally available processes. UFT is also the only process in the world that can process waste tires into rubber powder that meets the GB/T15904-2020 standard.

Production Capacity will be Verified Through Demonstration as Overseas Expansion will be Done with Turnkey Solutions + Patent Licensing

The t.p.m.c. stated that it will arrange for a production line demonstration in Taiwan to verify the actual efficiency and efficacy of the Ultra-fast flows Technology (UFT). For the future, they are planning to expand to the international market with turnkey solutions and patent licensing business models. The production line can not only generate income from processing waste tires, but also selling low-carbon high-activity rubber powder to tire factories; building multiple positive income cycles for waste tire processing.

The t.p.m.c. also stated that because polyisoprene can be used in many types of rubber products, many tire companies and coating companies in Taiwan are already conducting their testing and production cooperation. They are also planning to expand and cooperate with major international manufacturers and companies in the future.

Watch the InnoVEX 2024 Pitch Contest Finals here:
>>> https://www.youtube.com/watch?v=aSfg7kAITP4&t=1255s

About InnoVEX

Started in 2016, InnoVEX is a startup-focused exhibition organized by the Taipei Computer Association (TCA) and the Taiwan External Trade Development Council (TAITRA). Positioned as the innovation hub of Asia, InnoVEX is held alongside Asia's leading ICT B2B Tradeshow, COMPUTEX, to connect startups and their innovations to global VCs, CVCs, manufacturing partners, buyers, and media.

Follow the InnoVEX Social Media channels for more news and updates:
Facebook: https://www.facebook.com/computexinnovex
Twitter/ X: https://twitter.com/InnoVEX3
LinkedIn: https://www.linkedin.com/company/innovextaipei/
YouTube: https://www.youtube.com/c/InnoVEX_taipei/
Instagram: https://www.instagram.com/innovex_taipei/