The South Carolina Research Authority (SCRA) has announced its SC Launch Inc. program has finalized an investment in the Atlanta-based appliance recycling company Recleim. The funds have been earmarked toward expansion of Recleim’s Graniteville, South Carolina, facility.
The SCRA is a public, non-profit corporation chartered by the State of South Carolina to enhance and improve the development and growth of the state’s economy.
The investment is part of Recleim’s recent $5 million equity round the company is raising to allow it to grow and expand.
Recleim indicates it can recover about 95 percent, by weight, of the commodity components in appliances. The company also captures and destroys refrigerants and greenhouse gases trapped in the insulating foam of refrigerating appliances and other white goods.
In addition to its Graniteville flagship facility, the company operates demanufacturing facilities in Philadelphia and in Lima, Ohio. The company also operates nine logistics hubs in the eastern United States.
“At a time when customers expect businesses to stand for more than just their financial statements, businesses are searching for a way to make a real impact and form real connections with their customers,” says Steve Bush, Recleim CEO. “Recleim is dedicated to helping businesses and organizations usher in renewal: renewal of the environment, renewal of communities, and renewal of how business is done.”