LD Carbon, a leading producer of recovered carbon black, has successfully closed a Series C funding round led by Toyota’s growth fund, Woven Capital. The round also saw participation from Meritz Securities, Investwith, Industrial Bank of Korea, Hyundai Motor Group ZER01NE, Elohim Partners, and New Main Capital. This investment will empower LD Carbon to significantly scale its operations, further solidifying its commitment to recycling end-of-life tires and materials from end-of-life vehicles into recovered carbon black and pyrolysis oil. This process is achieved through innovative pyrolysis and material recovery technology, ultimately contributing to the creation of new automotive parts and tires.
The investment marks a significant step forward in LD Carbon’s mission to drive the circular economy while delivering substantial material cost and carbon savings for global customers. Traditional carbon black manufacturing processes are notoriously polluting, generating a staggering 25 million metric tons of CO2 annually. Furthermore, the burning of 28% of all waste tires contributes another 1.6 million metric tons of CO2, equivalent to the emissions of numerous passenger vehicles. LD Carbon’s patented recovered carbon black manufacturing technology, employed in its pyrolysis and material recovery process, provides a near 100% recovery rate for waste tires. This environmentally responsible approach offers a safe and efficient alternative for recovered carbon black (rCB) while simultaneously developing pyrolysis oil.
“LD Carbon is tackling a complex chemistry challenge that continues to pose significant hurdles for manufacturers across the automotive supply chain, especially as they grapple with increasing pressure to embrace sustainability goals,” said [Name], Woven Capital principal and new member of LD Carbon’s board. “With a major plant currently under construction, the company is actively scaling its proven technology to maximize productivity and reduce the cost of producing high-performance recovered carbon black, offering a compelling value proposition compared to virgin materials. Given the favorable regulatory and corporate landscape, robust sales pipeline, and first-mover advantage in [Location], we are confident that LD Carbon is primed to play a pivotal role in shaping a sustainable future.”
The automotive industry is experiencing a surge in demand for increased recycled content in vehicles. This shift is fueled by new corporate net-zero targets, stringent emissions requirements, and the European Commission’s proposal urging car manufacturers to incorporate 25% recycled plastic content, with at least 5% sourced from end-of-life vehicles.
“Our unwavering mission is to significantly enhance the sustainability profile of the automotive industry while driving down costs,” stated [Name], CEO and co-founder of LD Carbon. “Partnering with Woven Capital and other strategic investors will provide us with invaluable insights into scaling operations to effectively support global OEMs as they strive to deliver more sustainable vehicles to discerning consumers and business customers. Together, we can ensure that the automotive sector and its related industries achieve a new level of environmental friendliness, all while maintaining high standards for cost and performance.”
LD Carbon stands as a leading producer of recovered carbon black (rCB) and tire pyrolysis oil (TPO) derived from waste tires. The company’s existing plant in Gimcheon, [Location], boasts an annual capacity exceeding 7,000 tons of rCB, supplying major tire and rubber product manufacturers. Furthermore, LD Carbon has secured a 10-year supply agreement with SK Incheon Petrochemicals for its tire pyrolysis oil.
Currently, LD Carbon is investing heavily in the construction of the largest tire pyrolysis plant in Dangjin City, Chungcheongnam-do, with an anticipated completion date of 2024. This plant will have an impressive annual capacity of 50,000 tons of end-of-life tires, converting them into 23,000 tons of TPO, 20,000 tons of rCB, and 7,000 tons of other valuable gas and materials. LD Carbon is also actively collaborating with industry leaders, including several major global tire makers, to jointly develop key product specifications.
LD Carbon Co., Ltd. is an eco-friendly material industry company that has pioneered leading technologies for the production of green carbon black and pyrolysis oil from end-of-life tires. The company’s tire pyrolysis oil and recovered Carbon Black have successfully passed rigorous quality assurance test programs conducted by some of the world’s leading petrochemical and tire companies. LD Carbon is currently constructing its first large-scale mass-production pyrolysis factory, equipped with a 50ktpa end-of-life tire pyrolysis capacity in [Location]. The company has outlined a deployment plan for subsequent plants in other APAC regions, partnering with prominent industrial groups.
To learn more about LD Carbon, please visit [Website].
Woven Capital, Toyota’s dedicated growth fund, is committed to realizing the full potential of mobility, encompassing the seamless movement of people, goods, information, and energy. Our global team of investors connects the world’s most promising innovators with the world’s most trusted automotive brand. Founded in 2021, we are investing nearly [Amount] in startups that are pioneering new ways to connect cities, advance automation, harness and store energy, further electrification, and enhance the intelligence of our vehicles. Learn more at [Website].
SOURCE LD Carbon
