In the Netherlands, Black Bear Carbon BV is getting another €5 million or about $5.7 million in financing from Capricorn Venture Partners and Particon after already receiving €11 million, or about $12.6 million, in their latest growth financing round from other investors to help scale up its unique “Tire to Carbon Black” technology, a unique carbonization process used to transform tires into recovered Carbon Black for use in the production of tires, technical rubber, coatings, plastics and inks.
Black Bear operates an industrial-scale prototype plant in partnership with Kargro, one of Europe’s foremost recyclers of tires. The plant, located in Nederweert, the Netherlands, is capable of processing more than 1 million tires annually. The recovered Carbon Black is Cradle-to-Cradle certified and is already used by major clients, including AkzoNobel. Black Bear will use the capital to further develop this industrial-scale prototype plant and expand internationally.
The company’s long-term goal is to upcycle all waste tires into valuable products, which would achieve CO2 emission reductions equivalent to the planting of more than 1 billion trees.