Lakewood, Colorado-based Pretred, which makes industrial barriers with around 95 percent recycled materials, says it has received a $3 million “seed investment” led by HG Ventures, the corporate venture arm of Indianapolis-based The Heritage Group.
Pretred says it will use the funds to scale its United States-based tire and plastic recycling process “to meet the growing demand for green construction products.” Pretred technology has been designed to recycle approximately 65,000 scrap tires for every mile of barriers fabricated. The barriers reduce 98 percent of equivalent carbon dioxide (CO2) emissions compared with concrete barriers, according to the firm.
“By successfully raising our seed round, we can accelerate our scale-up and deploy our barriers and blocks in markets that are in immediate need of high-performance sustainable materials,” says Eric Davis, CEO of Pretred. “We value our partnership with The Heritage Group and have already tapped into their technical and market expertise in construction materials and the circular economy.”
“We are thrilled to have the opportunity to invest in Pretred, as we have been impressed with the creativity, experience and passion of their management team,” says Ginger Rothrock, senior director at HG Ventures and Pretred board member. “We believe that Pretred is a pioneer in the manufacture of green construction materials by fashioning beautiful, rugged and environmentally responsible construction products.”
HG Ventures partners with entrepreneurs who produce sustainable materials, infrastructure and industrial systems, investing from $1 million to $10 million in such firms as a lead or syndicate partner. HG Ventures describes Pretred as “a graduate of the 2020 cohort of The Heritage Group Accelerator Powered by Techstars, a program for mentoring and developing early-stage companies in the ‘hardtech’ industries of advanced materials, infrastructure, and environmental services.”