Black Bear Carbon are scaling up… and LSM has a new client
Our most recent client Black Bear Carbon has successfully raised EUR 11 million in growth capital in order to start scaling up their solution to the global tire waste problem. The Dutch company aims to expand its ‘Tire to Carbon Black’ project technology, with each plant preventing emissions equal to the CO2 captured by more than a million trees.
Alongside this fantastic achievement, we can proudly announce that we will be working with the Black Bear team on their media relations and communications strategy.
Carbon Black and upcycling it
Carbon black is used to make reinforcing filler for tyres and other rubber products like belts and hoses. It is also used in making black pigment for inks, resins and for colouring food/beverage packaging. This product is valuable, widely used for painting anything black and is traditionally produced by burning oil.
Every year over 1.5 billion tires from cars and other vehicles enter the global waste stream. The vast majority get dumped or incinerated, releasing massive amounts of CO2 into the atmosphere and wasting valuable resources.
Black Bear Carbon saw an opportunity to embrace a circular economy and retrieve this high value material by upcycling end-of-life tires. Using a unique carbonisation process, Black Bear transforms used tires into recovered Carbon Black (rCB). There are a variety of applications that the eco-friendly product can be used for.
Industrial scale prototype plant
Black Bear already have an industrial-scale prototype plant located in Nederweert, The Netherlands. It is capable of processing more than 1 million waste tires annually, producing 5000 tonnes of Carbon Black, 5000 tonnes of bio-fuel, 3000 tonnes of steel and one megawatt hour of green electricity. The plant is operated in partnership with Kargro, the world first tire recycling company.
Black Bear CEO Martijn Lopes Cardozo said:
“For each installation we build we save more CO2 than 1 million trees can consume – a huge positive environmental benefit.”
To generate the 11 million in funding, four new partners have come on board as stakeholders: Dutch banking corporation ING Group, two Netherlands-based investment firms 5square and Social Impact Ventures, as well as the conglomerate SCG from Thailand (Asia).
CEO Martijn Lopes Cardozo said:
“This new consortium means much more than just fresh capital, they are strategic partners, who will play a key role in the development of our technology and who will speed up our international roll-out.”
The newly generated capital will be used to further develop the prototype plant and expand internationally, with potential for more than 1000 plants worldwide.
We are excited for what the future holds for Black Bear and our team in Berlin can’t wait to continue working with them on expanding their market presence. Watch this space!
Find out more about Black Bear Carbon here: www.blackbearcarbon.com