Woven Capital leads a $28 million Series C funding round for LD Carbon to enhance its recycling operations and promote a circular economy in the automotive sector.
Information on the Target
LD Carbon Co., Ltd. is a prominent producer of recovered carbon black (rCB) and tire pyrolysis oil (TPO) obtained from waste tires. The company operates a facility in Gimcheon, South Korea, which boasts an annual capacity exceeding 7,000 tons of rCB supplied to leading tire and rubber manufacturers. LD Carbon is currently constructing Asia's largest tire pyrolysis plant in Dangjin City, Chungcheongnam-do, expected to be completed by 2024. This facility will have the capability of processing 50,000 tons of end-of-life tires, yielding 23,000 tons of TPO, 20,000 tons of rCB, and 7,000 tons of other valuable gases and materials.
In addition to its production capabilities, LD Carbon has forged a significant 10-year supply agreement with SK Incheon Petrochemicals for its tire pyrolysis oil. The company's cutting-edge technologies and commitment to sustainability position it as a leader in the eco-friendly materials industry, helping to address global waste and carbon concerns.
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Industry Overview in South Korea
The automotive industry in South Korea is undergoing a transformative shift towards sustainability, driven by a combination of regulatory requirements and shifting consumer preferences. Automakers are increasingly integrating recycled materials into their manufactur
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Transaction Size: $28M