Oldrati Guarnizioni Industriali S.p.A. of Oldrati Group, is investing about $6.7 million in developing new advanced rubber recycling technology.

The Italian producer of rubber, plastics and silicone products received support from the Italian government as part of an innovation award from the Ministry of Business and Made in Italy (MIMIT) with resources managed by the ministry's Complementary National Fund (PNC), according to a July 18 press release.

The research project will investigate the "regeneration of technical rubber articles at the end of their life cycle", Oldrati said.

Once regenerated, the rubber will be reintroduced as new raw material into the production chain, thus reducing landfill waste, the company added. The "distinctly innovative and sustainable process in the polymer world" will reduce consumption of virgin raw materials and CO2 emissions.

Oldrati did not provide further information about the process, but it said it had submitted a "detailed application" for the three-year project to MIMIT.

Gaining support for "particularly advanced and innovative research… (shows) a recognition of our capability to conduct highly innovative projects," R&D director Paolo Morandi said. "Working on initiatives that actively contribute to a better environment makes us feel very motivated".

Oldrati was founded in Villongo (Bergamo) in 1964. The company has a presence in Italy and internationally with 14 production sites and about 1,700 employees.