Most of the tires used in cars, bikes or other means of transport are either dumped or incinerated resulting in massive amounts of CO2 (Carbon Dioxide) into the air, which is very harmful to the valuable resources in the environment. However, Black Bear, a Dutch startup aims to curb this issue caused by the old tires.
Founded in 2010, Black Bear based in the Netherlands has developed a unique Tires to Carbon Black technology to produce the Carbon Black from used tires. The company aims to upcycle all the waste tires into valuable products.
Raised €11 million
In a recent development, Black Bear has closed a growth funding round of €11 million to refine its process and expand its rollout its technology worldwide. With this investment, the consortium investing in Black Bear include Chemelot Ventures, ING Sustainable Investments, Stitching DOEN, SCG, Social Impact Ventures and 5square.
“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”, says CEO Martijn Lopes Cardozo.