Black Bear Carbon raises € 7.5 million in a first closing for its new flagship plant
17 May 2021
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.