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Scottish tyre recycler secures substantial funding to increase revenues by 92%

Scottish tyre recycling company, UK Rubber, behind an industrial-scale, tyre-recycling plant is targeting growth after securing £370,000 of loan funding.


Scottish tyre recycler secures substantial funding to increase revenues by 92% f

According to an article in the heraldscotland, Motherwell-based UK Rubber, a waste tyre collection and disposal owned by chief executive Dave Ashurst, helps businesses across Scotland reduce carbon emissions. As part of its recycling process, it extracts the steel fibres from each tyre and transforms the rubber into chippings and crumb for various uses, including tyre-derived fuel, playground surfacing and matting.

UK Rubber aim is to increase its revenues by 92 per cent over the next 12 months on the back of the funding, which is being used to invest in machinery, bolster production and increase the current workforce of 10 by 30% to meet the growth targets.

Reward Finance Group, which has South African-based investment company Genfin Holdings as its main shareholder and provides asset-backed lending solutions to small and medium-sized enterprises, said of UK Rubber:

“UKR has made giant strides in tackling the environmental issue of waste tyres being disposed of in landfill, since the directive on the landfill of waste banned the landfill of whole tyres from 2003 and shredded tyres from 2006. Key to its success has come through working closely with local authorities, businesses and the Scottish Environment Protection Agency.”

Mr Ashurst said:

“We’ve always been a business that continually innovates and invests in cutting-edge processes, machinery and the people needed to meet the UK’s environmental waste management challenges. It promises to be an exciting 12 months ahead for UKR, and we’re fully geared for growth to combat the 50,000 tonnes of waste tyres in the UK each year.”

Brian Machray, business development director for Reward Finance Group in Scotland, said:

“UKR is a real success story within environmental waste management across Scotland. It’s hugely satisfying to see that our tailored funding solution will enable Dave and his team to further innovate and propel the business forward on to another level.

The finance provided to UKR is also a significant milestone as it represents the largest deal we have done in Scotland since launching here earlier this year.”



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Owain Griffiths

Owain Griffiths

Head of Circular Economy at Volvo Cars

Owain joined Volvo Cars in June 2021 to lead Circular Economy in the Global Sustainability Team. The company has committed to being a circular business by 2040 and has financial, recycled content and CO2 based targets for 2025, all of which Owain is working across the company to make happen. Owain previously worked for circular economy consultancy Oakdene Hollins where he advised businesses on evidence led circular economy implementation. 

Turning into a circular business and the importance of vehicle reuse and recycling.

The presentation will cover the work Volvo Cars is doing to achieve 2025 but mainly focus on the transformational work towards 2040 and the business and value chain changes being considered. Attention will be paid to the way vehicles are being dealt with at the end of life and the complexities of closing material and component loops. Opportunities and challenges which Volvo Cars is facing will be presented including engagement with 3rd parties and increasing pressure from stakeholders.

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