Black Bear Carbon raises € 7.5 million in a first closing for its new flagship plant
- Black Bear Carbon (“BBC”), the Dutch technology provider for upcycling End-of-Life Tire rubber into recovered Carbon Black and renewable petrochemicals, is proud to announce that is has successfully completed a first closing of € 7.5 million, this is the first step in a fundraising campaign of € 78 million for its new BBC flagship plant at Chemelot Industrial Park, the Netherlands.
- The investment round was led by Capricorn Partners from the Capricorn Sustainable Chemistry Fund, with support from Invest-NL, joined by current investors; Brightlands Venture Partners, Siam Cement Chemicals and others.
Nederweert, Netherlands: 17 May 2021 – BBC was confronted with a fire that destroyed its first demo-plant in February 2019 and as a result, the company faced operational and financial challenges. Nevertheless, Black Bear Carbon has shown resilience through improving its technology, commercializing its end-products. The new flagship plant, to be constructed at the Chemelot Industrial Park in Limburg, The Netherlands, is expected to become operational by mid-2023. The plant will be the first of many to be built globally.
More information on Black Bear Carbon’s website.