Ecore Receives Investment From BeyondNetZero Fund

Ecore International has received a minority growth investment from New York City-based General Atlantic, through the firm’s BeyondNetZero climate growth fund.

Ecore, a Lancaster, Pennsylvania-based converter of reclaimed rubber and manufacturer of recycled rubber flooring products said it will use the funding to support continued organic and inorganic growth initiatives, strengthen core operational and technology infrastructure, and accelerate the execution of its industry-leading circularity and net-zero strategies.

Through its TRUcircularity program, Ecore reclaims its own products and re-purposes them back into surfacing applications, creating a continuous cycle of rubber usage, preventing rubber waste from entering landfills.

Ecore said it saves more than 430 million pounds of waste rubber, avoids 9.5 million pounds of CO2 emissions annually through its zero waste plants.

“We’re excited to partner with General Atlantic’s BeyondNetZero to further scale our vision of a circular economy for rubber materials,” Art Dodge, CEO and Chairman of Ecore, said.  “This investment will allow us to expand our reach, enhance our technology and drive innovation. Sustainability isn’t just a goal, it’s a core value driving every aspect of our business,” he said.

Ecore foresees a growing market for sustainable waste management solutions and a rising waste tire supply due to increased vehicle production and greater tire wear from electric vehicles driving growth.

Recent acquisitions, including Ameritread and 360 Tire Recycling Group, have strengthened Ecore’s access to recycled materials and advanced technology, allowing the company to expand its global reach to more than 75 countries.

“Traditionally, end-of-life commercial tires and rubber materials were lost to landfills, but Ecore now upcycles over 140,000 tons of this waste into transformed products. Michael Bevan, Managing Director at General Atlantic’s BeyondNetZero, said.

“We believe Ecore’s circularity model is supported by long-term tailwinds towards sustainability-forward solutions, and we look forward to our partnership with Art and the team.”

As part of the transaction, Michael Bevan and Wilson Bowen, Principal at General Atlantic’s BeyondNetZero, will join Ecore’s Board of Directors.

© Scrap Tire News, December 2024