LANCASTER, Pa.—American rubber company Ecore is moving closer to circularity, thanks to a minority growth investment from General Atlantic. The rubber product manufacturer has secured investment to accelerate its circularity timeline from the BeyondNetZero fund as of Nov. 18.
Ecore CEO and Chairman Art Dodge said that sustainability is more than just a goal for the company. Rather, environmental concerns are at front of mind for the Pennsylvania manufacturer, and "a core value driving every aspect of our business."
"We're excited to partner with General Atlantic's BeyondNetZero to further scale our vision of a circular economy for rubber materials," Dodge said "This investment will allow us to expand our reach, enhance our technology and drive innovation, all while keeping millions of pounds of waste out of landfills and reducing our environmental footprint."
Ecore's sustainability model has potential to transform the industry with partnerships throughout the marketplace, the company said. The manufacturer recently acquired both Ameritread and 360 Tire Recycling Group, it said, expanding its reach to over 75 countries.
Michael Bevan, managing director at General Atlantic's BeyondNetZero, added that Ecore's sustainability model is a perfect partner for the initiative. The BeyondNetZero team is looking forward to working with Ecore to make reliable, sustainable products in the short- and long-term future.
"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," Bevan said. "Ecore is operating at the forefront of the recycled rubber product industry and has developed an innovative portfolio for a variety of end markets, while decreasing demand for virgin materials and delivering impact."
