Pyrolyx AG has signed a five-year mezzanine financing agreement for €5.0 million (around $6.2 million) with the American Arena Growth Holdings LLC to expand into the U.S. market
The German company that extracts recovered black carbon from end-of-life tires will use the money to finance global expansion, the development of production in the U.S. and the optimization of Pyrolyx’s existing production capacity. The company is currently building a factory in Indiana.
Arena Growth Holdings specializes in sustainable investments in technology and recycling companies. Pyrolyx AG uses the extracted recovered carbon black it extracts to manufacture new tires as well as in the masterbatch and technical rubber industries.
For more information, visit www.pyrolyx.com or www.carbon-clean-tech.com.