Tyre recycling: Investment aiding Bolder Industries’ global ambitions

Bolder Industries, Inc., a US-based firm specialising in converting end-of-life tyres into sustainable carbon black, oil and steel, has raised US$80 million in equity and an additional $100 million in committed project-level funding. This will support global growth to meet rising customer demand, including long-term contracts from major automotive, manufactured rubber, plastics and sustainable petrochemicals partners. Funding is co-led by CIM Group and Aravaipa Ventures and supported by strategic partner Tauber Oil.

Bolder’s current facility in Maryville, Missouri, has been in 24/7 commercial operation since February 2019. The company reports that demand for its product has built up and thus makes “significant global expansion” necessary. It is expanding this plant to meet rising customer demand, increasing capacity two and a half times over by Q1 2022. Bolder also has “immediate plans” for additional production facilities in the USA, Europe, and other parts of the world. It established a European subsidiary, Bolder Industries Europe Limited, in Dublin in July 2020; this operation is headed by Michael Murray, who is also Bolder’s chief revenue officer.

“Our vision is to transform what it means to be a sustainable, environmentally conscious company and we’re incredibly humbled by the support we’ve gained to do so,” said Tony Wibbeler, Bolder Industries’ chief executive officer. “Bolder Industries is scaling at such a speed that enables existing customers to expand their business with us when they want to, and new partners can see impact quickly.”

Bolder Industries in numbers:

• Its process utilises 98 per cent of the tyre for alternative purposes.
• 75 per cent of the solids and liquids make their way back into new tyres, manufactured rubber goods, and plastics. The remaining gases are used for onsite energy.
• While each product has its own sustainability calculator, Bolder averages a savings of 85 per cent or more in greenhouse gas emissions offsets and water and power usage.

BolderBlack, the company’s sustainable carbon black, and BolderOil are currently in more than 300 products including tyres, automotive parts, wetsuits and phone cases. Bolder Industries states that production of its flagship product BolderBlack uses 90 per cent less water and emits 90 per cent fewer greenhouse gasses than traditional methods of obtaining carbon black.