Sims Limited Ceases Development of Plasma-Assisted Gasification Technology

Sims ( (AU:SGM) ) has issued an announcement.

Sims Limited announced the closure of its Sims Resource Renewal subsidiary, ceasing the development of plasma-assisted gasification technology for processing Automotive Shredder Residue waste. Despite the successful commissioning of a demonstration plant, current market conditions do not support scaling the technology. Closure-related costs are expected to be $4 million, with a non-cash write-off of $21 million. Sims remains committed to reducing landfill waste and is exploring alternative solutions for treating ASR.

More about Sims

Founded in Australia in 1917, Sims Limited is a global leader in metal recycling and the provision of circular solutions for technology. The company employs approximately 4,100 employees globally and operates more than 150 facilities across 13 countries. Sims Limited plays a vital role in increasing circularity and decarbonisation by supplying recycled materials and re-purposed products. Its shares are listed on the Australian Securities Exchange and quoted on the Over-the-Counter market in the United States.

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