GOODYEAR UNVEILS 90% SUSTAINABLE-MATERIAL DEMONSTRATION TIRE, APPROVED FOR ROAD USE

Rhea-AI Summary

Goodyear (GT) announces a tire with 90% sustainable materials.

On January 4, 2023, Goodyear unveiled a demonstration tire made from 90% sustainable materials, following the plan to produce a tire containing 70% sustainable materials in 2023. This innovation not only meets regulatory standards but also is designed for lower rolling resistance, potentially offering better fuel efficiency. With 17 ingredients from renewable sources, such as soybean oil and recycled materials, Goodyear aims to achieve its goal of a 100% sustainable tire by 2030.

Positive

• Introduced a demonstration tire made from 90% sustainable materials.
• Plans to launch a tire with up to 70% sustainable materials in 2023.
• Demonstration tire showcases lower rolling resistance, which may improve fuel savings.
• Incorporates innovative materials from renewable resources, enhancing sustainability.

Negative

• None.

Shares plans to produce and sell a tire with up to 70% sustainable-material content in 2023.

AKRON, Ohio, Jan. 4, 2023 /PRNewswire/ -- Today, The Goodyear Tire & Rubber Company (NASDAQ: GT) unveiled a demonstration tire comprised of 90% sustainable materials. This demonstration tire has passed all applicable regulatory testing as well as Goodyear's internal testing.

This demonstration tire also tested to have lower rolling resistance when compared to the reference tire, made with traditional materials. Lower rolling resistance means this demonstration tire has the potential to offer better fuel savings and carbon footprint reduction.

In addition, after announcing the capability to demonstrate a 70% sustainable-material tire in January 2022, Goodyear, working with its supply base, plans to sell a tire with up to 70% sustainable-material content in 2023. Consumers interested in purchasing this tire can register for updates at Goodyear.com/SustainableMaterialTire.  

Bringing a 90% sustainable-material tire to market will require further collaboration with the company's supply base to identify the scale necessary for these innovative materials to produce that specific tire at high volumes.

"We continue to make progress toward our goal of introducing the first 100% sustainable-material tire in the industry by 2030," said Chris Helsel, senior vice president, Global Operations and Chief Technology Officer. "The past year was a pivotal one toward achieving this goal. We researched new technologies, identified opportunities for further collaboration and utilized our team's tenacity to not only demonstrate our capabilities to produce a 90% sustainable-material tire, but to also produce a tire with up to 70% sustainable-material content this year. Our team continues to showcase its innovation and commitment to building a better future."

90% Sustainable-material Demonstration Tire - 17 Ingredients Across 12 Different Tire Components 
This 90% sustainable-material demonstration tire includes 17 featured ingredients across 12 different components, including:

• Carbon black, which is included in tires for compound reinforcement and to help increase their life, has traditionally been made by burning various types of petroleum products. Goodyear's 90% sustainable-material demonstration tire features four different types of carbon black that are produced from methane, carbon dioxide, plant-based oil and end-of-life tire pyrolysis oil feedstocks. These carbon black technologies target reduced carbon emissions, circularity and the use of bio-based carbons, while still delivering on performance.
• The use of soybean oil in this demonstration tire helps keep the tire's rubber compound pliable in changing temperatures. Soybean oil is a bio-based resource that helps to reduce Goodyear's use of petroleum-based products. While nearly 100% of soy protein is used in food/animal feed applications, a significant surplus of oil is left over and available for use in industrial applications.
• Silica is an ingredient often used in tires to help improve grip and reduce fuel consumption. This demonstration tire includes a high-quality silica produced from rice husk waste residue (RHA silica), a byproduct of rice processing that is often discarded and put into landfills.
• Polyester is recycled from post-consumer bottles by reverting the polyester into base chemicals and reforming them into technical grade polyester used in tire cords.
• Resins are used to help improve and enhance tire traction performance. In this demonstration tire, traditional petroleum-based resins are replaced with bio-renewable pine tree resins.
• Bead wire and steel cords provide reinforcement in the structure of a radial tire. This demonstration tire uses bead wire and steel cord from steel with high-recycled content, which is produced using the electric arc furnace (EAF) process. The utilization of the EAF process allows for steel to be produced with reduced energy use and higher recycled content. The EAF process has the potential for lower greenhouse gas emissions in comparison with steel produced using a blast furnace.
• ISCC certified mass balance polymers from bio- and bio-circular feedstock are also included in this tire.

The shift to sustainable materials is evident in some of Goodyear's current product lines. Today, eight product lines, and some racing tires, include soybean oil. In addition, Goodyear has more than doubled its use of RHA silica in its product lines since 2018. With the introduction of a tire with up to 70% sustainable-material content, Goodyear is demonstrating tangible commitment with in-market solutions to building a better future. 

*A sustainable material is defined as a bio-based/renewable, recycled material or one that may be produced using or contributing to other sustainable practices for resource conservation and/or emissions reductions including mass-balance materials.

**The 90% sustainable-material tire has been developed as a demonstration tire, which means Goodyear has proven its ability to produce a consumer tire with a high-level of sustainable-material content.                               

About The Goodyear Tire & Rubber Company

Goodyear is one of the world's largest tire companies. It employs about 72,000 people and manufactures its products in 57 facilities in 23 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/goodyear-unveils-90-sustainable-material-demonstration-tire-approved-for-road-use-301713430.html

SOURCE The Goodyear Tire & Rubber Company

FAQ

What is Goodyear's sustainable tire announcement on January 4, 2023?

Goodyear announced a demonstration tire made from 90% sustainable materials and plans to produce a commercially available tire with up to 70% sustainable materials in 2023.

What are the benefits of the 90% sustainable tire by Goodyear?

The 90% sustainable tire has lower rolling resistance which may lead to better fuel efficiency and reduced carbon emissions.

When does Goodyear plan to sell the 70% sustainable tire?

Goodyear plans to sell a tire with up to 70% sustainable materials in 2023.

What materials are used in Goodyear's demonstration tire?

The demonstration tire features ingredients like soybean oil, recycled polyester, and silica from rice husk waste, emphasizing sustainability and reduced environmental impact.

What is Goodyear's long-term goal for sustainable tires?

Goodyear aims to introduce the first 100% sustainable material tire in the industry by 2030.