Gold Coast companies Austek Asphalt, Pearl Global launch new product recycling old tyres

Two Gold Coast companies have partnered on a “game-changing” product that turns recycled tyres into asphalt for roads and race tracks, and oil to fuel their plants.

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TWO Gold Coast companies have partnered on a “game-changing” product that turns recycled tyres into asphalt for roads and race tracks, and oil to fuel their plants.

Austek Asphalt Production and ASX-listed Pearl Global on Wednesday unveiled asphalt product Carbonphalt at the Norwell Motorplex complex with facility owner and Bathurst 1000 winner Paul Morris.

Pearl Global breaks down used tyres, ranging from cars to “massive mining vehicles”, to produce carbon char, reusable steel and fuel oil.

The carbon char undergoes thermal treatment to take the form of a fine powder, which is then sent to Austek Asphalt to create Carbonphalt and oil to fuel the Pearl Global and Austek manufacturing plants.

The companies claim about 10 tyres will be saved from landfill for every tonne of Carbonphalt produced.

Motor racing identity Paul Morris test-driving a new bitumen made from recycled tyres. Picture: NIGEL HALLETT

It is estimated more than 1.6 million tyres will be recycled each year.

Pearl Global executive chairman Gary Foster said its technology was a “significant advancement” on other tyre-recycling processes.

“The partnership with Austek Asphalt is a real collaboration between two Gold Coast companies that shows the end product at work,” he said.

“It is estimated that worldwide more than 1 billion tyres are disposed of every year,” he said.

“Tyres are not naturally degradable and governments are increasingly seeking solutions for dealing with the waste.”

One of the first places where the asphalt will be laid is the Norwell Motorplex.

Mr Morris said he was proud to be using a product developed in the area.

“The environmental benefits speak for themselves, but the end product will also be terrific from both a durability and performance standpoint,” he said.

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“We want our Super School cars to enjoy a faster and safer surface, but we also need that surface to stand the test of time and the Austek product is designed to do both those things and cost-effectively.

“It would be great to see this product being used by councils, governments and race tracks all over the country.”

Five-time 500cc world champion Mick Doohan, also at Wednesday’s launch, said the product “solves a major world problem”.

“There has always been a stigma attached to motorsport when it comes to used tyres, especially with more and more focus on the environment, but Carbonphalt basically helps eradicate that,” he said.

Motor racing identities Paul Morris and Russell Ingall test-driving a new bitumen made from recycled tyres. Picture: NIGEL HALLETT

“I could not think of a more appropriate process than used race tyres being recycled and turned back into a track surface to be enjoyed by the next generation of racers.”

Pearl Global recently faced scrutiny from the ASX due to discrepancies between its preliminary report and full-year accounts.

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The former recorded a net loss of $4.403 million and net assets of $8.88 million for FY20.

However, the full-year accounts reported a wider net loss of $9.2 million and net assets of $4.287 million.

Pearl said the differences were attributed to revenue, expense and balance sheet items being inconsistently classified the prior year, a revised research and development claim, and impairment charges.

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