Black Bear is a Nederweert, the Netherlands–based cleantech company advancing a “Tire to Carbon Black” carbonization process that transforms end-of-life tires into recovered Carbon Black. The recovered Carbon Black is Cradle-to-Cradle™ certified and is already used by major clients including AkzoNobel. The company operates an industrial-scale prototype plant in partnership with tire recycler Kargro, located in Nederweert, capable of processing more than 1 million tires annually. Led by CEO Martijn Lopes Cardozo, Black Bear intends to use recent funds to scale up its technology, further develop the industrial-scale prototype plant and expand internationally. Financially, the company secured an additional €5m in funding and had previously raised €11m in a growth financing round from ING Sustainable Investments, 5square, Social Impact Ventures and SCG. Black Bear, founded in 2010 in the Netherlands, has developed a proprietary tires-to-Carbon Black carbonisation process to transform used tires into recovered Carbon Black. The company produces Cradle-to-Cradle Certified recovered Carbon Black intended for technical rubber goods, coatings, inks and tires, and says its product can compete with virgin Carbon Black on cost and quality. Black Bear describes its process as energy-generating and energy-efficient and highlights environmental impacts, including claims to reduce annual oil consumption by over 215 million barrels and CO2 savings comparable to thousands of hectares of forest. The latest €11 million growth funding will be used to refine the process and accelerate international rollout of the technology. Investors are presented as strategic partners who will support technology development and market expansion, and the company already counts large customers such as AkzoNobel. Management is led by CEO Martijn Lopes Cardozo and backed by a consortium of impact and industrial investors.

Total raised

$18M

Funding rounds

2

Latest round

Equity

Latest activity

Nov 2018