Monday, July 22, 2024
HomeSouth Korea South Korea-Based LD Carbon Secures $28 Million in Series C Funding

[FUNDING NEWS] South Korea-Based LD Carbon Secures $28 Million in Series C Funding

A $28 million Series C fundraising round was secured by LD Carbon, a recovered carbon black manufacturer situated in Seoul, South Korea.

A $28 million Series C fundraising round was secured by LD Carbon, a recovered carbon black manufacturer situated in Seoul, South Korea.

With participation from Meritz Securities, Investwith, Industrial Bank of Korea, Hyundai Motor Group ZER01NE, Elohim Partners, and New Main Capital, Woven Capital, Toyota’s expansion fund, led the round.

Read also – Japan-Based Ayudante Acquires Digital Marketing company Sparkline

With the use of pyrolysis and material recovery technologies, the business plans to scale up operations to recycle end-of-life tyres and material from end-of-life vehicles into recovered carbon black and pyrolysis oil, which can then be utilised to make new tyres and automotive parts.

LD Carbon Co., Ltd., an eco-friendly material industry company led by CEO Seong Mun Baek, has developed technologies to create green carbon black and pyrolysis oil from tyres that are nearing the end of their useful lives.

Read also – Insightec Secures $150 Mn Equity Funding to Fund Continued Growth

Some of the biggest petrochemical and tyre industries in the world have approved its tyre pyrolysis oil and recovered Carbon Black through quality assurance test programmes.

The company is constructing its first large-scale pyrolysis facility in South Korea, with a 50ktpa end-of-life tyre pyrolysis capability. It has plans to deploy these units in other key industrial organisations’ APAC regions.

About LD Carbon

LD Carbon recycles resources. LDC helps solve environmental issues created by waste tyres by reducing CO₂ emissions and crude oil usage for a sustainable future. LD Carbon is a global leader in sustainable chemicals.

- Advertisement -
RELATED ARTICLES
- Advertisment -

Most Popular