Ecore receives investment from low-carbon fund

Lancaster, Pennsylvania-based Ecore International, a converter of reclaimed rubber materials into new products, says it has received a “minority growth investment” from New York-based General Atlantic through the firm’s BeyondNetZero climate growth fund.

Ecore says it will use the funding and partnership status to “support continued organic and inorganic growth initiatives, strengthen core operational and technology infrastructure, and accelerate the execution of its industry-leading circularity and net-zero strategies.”

The more than 150-year-old company describes itself as having built a circular business model that transforms used tires into rubber surfacing and flooring applications.

Through its TRUcircularity program, Ecore also reclaims its own products and repurposes them back into surfacing applications, creating what it calls a continuous cycle of rubber usage, thereby preventing discarded rubber from entering landfills.

Ecore says it reclaims more than 215,000 tons of discarded rubber and helps prevent 4,750 tons of CO₂ emissions annually while operating zero waste plants.

“We’re excited to partner with General Atlantic’s BeyondNetZero to further scale our vision of a circular economy for rubber materials,” says Art Dodge, CEO and board chair of Ecore. “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 predicts growth driven by an eager market for sustainable waste management solutions and a rising scrap tire supply, based on increased vehicle production and greater tire wear from electric vehicles (EVs).

The company says recent acquisitions, including Pennsylvania-based Ameritread and Texas-based 360 Tire Recycling Group, have strengthened its access to recycled materials and new technology, allowing it to expand its global reach to more than 75 countries.

“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,” says Michael Bevan, managing director at General Atlantic’s BeyondNetZero fund.

“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,” adds Bevan. “We believe Ecore’s circularity model is supported by long-term tailwinds toward sustainability-forward solutions, and we look forward to our partnership with Art and the team.”

As part of the transaction, Michael Bevan and Wilson Bowen, principal at General Atlantic’s BeyondNetZero, will join Ecore’s board of directors.

Ecore says its products and services include rubber reclamation services, rubber materials, commercial and performance flooring, play surfacing, industrial components, transportation and agricultural products..

General Atlantic describes itself as a leading global growth investor that has provided capital and strategic support to over 520 companies. BeyondNetZero is the climate growth equity fund of General Atlantic designed to invest in growth companies delivering innovative climate solutions.