Redeye comments on Enviro’s Q1 report, which held no surprises – as expected. The major event of the quarter was the announcement of Enviro and Antin forming a JV, which sets the structure for rolling out ELT recycling plants with the capacity of handling 1m tons of ELT by 2030. Enviro also raised SEK300m in a directed share issue in May to fund its equity stake in the JV and the underlying business of Enviro.