EU startup Greenrail has signed its first contract with American company SafePower1 to license its sustainable railway sleepers that use recycled materials. Greenrail’s sleepers are made of an inner core of concrete covered with recycled plastic and end-of-life tyres. This represents a huge benefit for the environment as for each km (1670 sleepers) 70 tonnes of plastic and end-of-life tyres are recovered from urban waste. The sleepers are patented in 79 countries.
The commercial contract, which foresees patent and trademark licensing, designing and supplying the industrial plants, as well as providing the necessary know-how, will be valid immediately. The agreement is for 15 years for a total of EUR 26 million with royalties bringing the sum up to EUR 75 million.
“Finalizing the first license contract allows us to start a new path towards creation of an international group that aims at becoming the world leader in the sector, but not only. With this operation, finally also other scenarios are made possible for the sustainable mobility and technological innovation, in tune with circular economy’s principles”, said Giovanni De Lisi, President of Greenrail Group.
Greenrail received a grant of EUR 2.29 million from the SME Instrument in 2016.
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