Lehigh Technologies Receives $16 Million in Financing

Funds from a group of venture capital firms will go toward expanding company’s R&D initiatives.

Recycling Today Staff

Published August 24, 2012

Lehigh Technologies Inc., an Atlanta-based tire recycling company, has completed $16 million in financing, securing investments from a number of venture capital firms led by Leaf Clean Energy, including Kleiner Perkins Caufield Byers, Index Ventures and NGP Energy Technology Partners.

According to Lehigh, the funding will go toward expanding its geographic reach and research and development initiatives, including strengthening its ability to meet the commercial demand for its micronized rubber powder (MRP) technology.
Lehigh’s MRP technology recycles end-of-life tire and post-industrial rubber into new materials that are incorporated into high-performance tires, consumer and industrial plastics goods, asphalt and coatings and construction materials.
"Support from our financing partners enables our continued growth as we make major advancements in micronized rubber powder technology," says Alan Barton, Lehigh Technologies CEO. "We are working with customers to support their use of MRP at increasingly higher levels as well as developing new end uses for this sustainable material. Our new funding will support our technology roadmap as well as facilitate expansion into new geographies."
Ellen Pao of Kleiner Perkins Caufield Byers and board member of Lehigh Technologies says, "Our second investment in Lehigh Technologies is a testament to the company's ability to deliver technology-based innovation and create new market opportunities. We believe Lehigh's approach breaks existing paradigms of how we perceive post-consumer and post-industrial materials, fundamentally changing how they can be used in the production of new products."

Sponsored Content

SENNEBOGEN 340G telehandler improves the view in Macon County, NC

An elevated cab is one of several features improving operational efficiency at the Macon County Solid Waste Management agency in North Carolina. When it comes to waste management, efficiency, safety and reliability are priorities driving decisions from day one, according to staff members of the Macon County Solid Waste Management Department in western North Carolina. The agency operates a recycling plant in a facility originally designed to bale incoming materials. More recently, the building has undergone significant transformations centered around one machine: a SENNEBOGEN telehandler (telescopic handler).

Matthew Fedors, Clean Leaf Energy vice president, adds, "A key element that motivates industrial customers to buy sustainable materials is to provide a solution that does not sacrifice quality, safety, cost, or performance of the end product. Throughout its market segments, Lehigh's technology position allows the company to achieve this goal."

Get curated news on YOUR industry.

Enter your email to receive our newsletters.

Latest from Recycling Today

More from Recycling Today

CATL, Ellen MacArthur Foundation aim to accelerate circular battery economy

Commentary: Expanded polystyrene is 98 percent air, 2 percent plastic and 100 percent misunderstood

AMCS appoints general manager for North America

How tariffs, regulations affect LIBs recycling in US, EU

Schwan Cosmetics introduces packaging free of styrene, ABS

Aimplas coordinates EU project focused on solar panel circularity

Subscribe to our Newsletters

Enter your email for an upgraded inbox!