- **lead** - … Hi-Green Carbon turns old tyres into industrial raw materials - not by burning them, but by cooking them in the absence of oxygen inside a proprietary continuous reactor that the company designed itself. The company was born inside the Radhe Group of Energy, a family-run conglomerate that has been building energy and gasification machinery since the late 1990s, and it spent a decade refining its pyrolysis process from a 25-tonne-per-day experiment in Rajasthan into a 200-tonne-per-day operation across two plants. The recurring approach is to extract value from every fraction of the waste tyre - oil, carbon powder, gas and steel - and to use the gas as free fuel for a second manufacturing step, so that nothing is wasted and nothing is bought that can be made from the process itself. # Business segments A single circular-economy engine built on continuous tyre pyrolysis - the plant eats waste tyres and yields four saleable streams, with the gas by-product powering a second product line at zero energy cost. ## 1. Tyre pyrolysis and recovered carbon black: the core recycling engine **The company runs three identical 100-tonne-per-day continuous pyrolysis plants that shred end-of-life tyres and separate them into oil, carbon powder, steel and gas - and it built the machinery itself through a group company, which keeps its capital costs at roughly half to a third of what competitors pay.** - **Proprietary continuous process** - tyres are fed into a reactor and heated to 400-500°C without oxygen, breaking down the rubber polymers without incineration; a program logic controller manages the feed and discharge without stopping the line, so output is consistent and emissions are lower than in batch systems. - **Three products from one input** - the process yields fuel oil (sold as an industrial heating fuel), raw carbon that is upgraded into recovered carbon black, and syngas with a calorific value equivalent to LPG at 10,500 kcal. - **Cheaper machinery than rivals** - the company buys its pyrolysis equipment from Radhe Renewables, a group entity that manufactures the technology in-house, which means competitors spend two to three times more on capital equipment for the same capacity. - **Recovered carbon black is the value-upgrade** - raw carbon from the reactor is processed in a dedicated rCB plant into a fine black powder that replaces virgin carbon black at a 50-60% cost saving for customers; it is sold in pelletised form to tyre, plastics, paint and textile manufacturers, though four-wheeler tyre companies are still in the research phase and adoption follows a nine-to-twelve-month qualification cycle. - **Three plants, one blueprint** - the original Bhilwara plant in Rajasthan has run for over a decade at roughly 72% capacity utilisation; a second plant in Dhule, Maharashtra, started in November 2024 with authorised monthly output of 1,050 tonnes of rCB and 1,350 tonnes of fuel oil; a third in Dhar, Madhya Pradesh, began commercial operations in May 2026 with annual capacity of 10,500 tonnes of rCB and 13,500 tonnes of oil, bringing the group to 300 tonnes per day of aggregate tyre-processing capacity. ## 2. Syngas valorisation and sodium silicate: turning a waste gas into a second business **The syngas that would otherwise be flared or wasted is instead burned to melt sand and soda ash into sodium silicate at zero fuel cost - and the company is now bottling the gas and generating power from it, turning a by-product into three separate revenue streams.** - **Free fuel for a furnace** - at the Rajasthan plant, half the syngas runs the pyrolysis reactor itself and the other half fires a furnace that melts silica and soda ash at 1,500°C to produce sodium silicate, also called raw glass, making the energy cost of that plant zero. - **Sold to six industries** - sodium silicate goes to textile, detergent, adhesive, paper, water-treatment and construction customers, and the 60-tonne-per-day plant installed in 2020 was the company’s first move beyond pure pyrolysis products. - **Gas bottling as a third product** - at the Madhya Pradesh plant, the company has approved bottling syngas for sale to industrial users as an LPG alternative, effectively creating a new product line from the same gas stream. - **Moving toward grid power** - at the Maharashtra plant, a power-generation unit running on syngas is being installed at a capital cost of about ₹2 crore, which is expected to eliminate power costs and could eventually sell surplus electricity to the grid. # Group structure and partners **Hi-Green Carbon is a publicly listed company controlled by the founding family through a holding entity, with three subsidiaries that extend its reach into raw-material processing and new geographies - though one has already been exited.** - **Promoter-held with a group machinery supplier** - RNG Finlease Private Limited owns just over half the equity, and the company buys its pyrolysis plants from Radhe Renewable Energy Development Private Limited, a related party that holds the technology patents; in FY25 those capital purchases totalled about ₹27 crore. - **Shantol Recycling runs the third plant** - this wholly owned subsidiary built and operates the 100-tonne-per-day Dhar facility in Madhya Pradesh, with the parent investing ₹5 crore in equity and providing about ₹12.4 crore in long-term loans, plus a further ₹6 crore rights issue approved in mid-2025. - **Samsara Recycling secures raw material at the port** - acquired in 2024, this wholly owned subsidiary makes crumb rubber from waste tyres at Mundra Port, giving the group direct access to imported feedstock and a logistics hub for international customers; a fire in October 2025 damaged stock but not the plant itself, and operations resumed by May 2026 after regulatory clearance. - **Green Valley Hydrocarbon was a brief detour** - a 51% subsidiary formed in August 2024 for a potential Jammu and Kashmir plant attracted by state subsidies, but geopolitical uncertainty and doubts about subsidy renewal meant no progress was made, and the Board approved selling the entire shareholding in February 2026.