Investment firm Leaf Clean Energy Company has committed $5m to Lehigh Technologies, a green materials company specialising in energy saving micronised rubber powders.
Leaf led the investment round into the US-based company, with the total as yet undisclosed.
Alan Barton, CEO of Lehigh Technologies, said, 'We are pleased to add Leaf Clean Energy to our existing investor syndicate. Their approach to emerging sustainable technologies is aligned with Lehigh's strategies in our core markets. We are looking forward to working with them to expand our geographic and industry reach.'
Lehigh Technologies' manufacturing process takes end-of-life tire material and other post-industrial rubber material and 'upcycles' it into sustainable powders.
'Lehigh has the leading technology for addressing the resource challenge of end-of-life tires, which amount to billions of pounds every year,' said Matthew Fedors, vice president of Leaf Clean Energy who will join Lehigh's board of directors.
'Customers are increasingly choosing Lehigh's products in response to rising rubber and polymer prices, combined with rising energy prices. We are thrilled to partner with Lehigh Technologies and to add Leaf's support as they continue to expand the business.'