HCT said the HUF 356 million project was supported by a HUF 196 mln European Union grant.
Managing director Zoltán Benkő told MTI that the company, based in Tiszalök (184 km northeast of Budapest), has set up a pilot plant that can turn out up to 500 tonnes of granulate from recycled tires a year. The process, which involves the recovery of the entire tire, is completed at room temperature in a closed, circular process, he added.
HCT developed the machinery using an invention it acquired several years earlier.
The company had net revenue of HUF 1.3 bln last year, public records show.
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