Leaf Clean Energy Invests in Lehigh Technologies to Drive Adoption of Lehigh’s Energy-Saving Micronized Rubber Powders
WASHINGTON, July 20, 2012 /PRNewswire/ — Leaf Clean Energy Company (AIM-LEAF), the renewable energy and sustainable technology investment firm, announced today that it is partnering with Lehigh Technologies (“Lehigh”), a leading green materials company, with a $5 million investment as Lehigh continues to meet increasing demand for energy-saving micronized rubber powders. Leaf led the investment round and joined other leading investors in the company.
“We are pleased to add Leaf Clean Energy to our existing investor syndicate. Their approach to emerging sustainable technologies is aligned with Lehigh’s strategies in our core markets. We are looking forward to working with them to expand our geographic and industry reach,” said Alan Barton, Chief Executive Officer at Lehigh Technologies.
“Lehigh is a compelling investment because they address a major environmental problem with a product that has a great value proposition for their customers. Leaf’s mission is to support companies that can achieve environmental sustainability with economically viable business models,” said Bran Keogh, Executive Director of Leaf Clean Energy.
Lehigh Technologies’ proprietary manufacturing process takes end-of-life tire material and other post-industrial rubber material and “upcycles” it into high quality, sustainable powders called micronized rubber powders, or MRP. Lehigh’s micronized rubber powder can help companies achieve sustainability goals, improve product performance, and deliver cost savings without sacrificing the reliability that traditional raw materials offer.
“Lehigh has the leading technology for addressing the resource challenge of end-of-life tires, which amount to billions of pounds every year,” said Matthew Fedors, Vice President of Leaf Clean Energy who will join Lehigh’s Board of Directors. “Customers are increasingly choosing Lehigh’s products in response to rising rubber and polymer prices, combined with rising energy prices. We are thrilled to partner with Lehigh Technologies and to add Leaf’s support as they continue to expand the business.”
Lehigh’s micronized rubber powders are used in tires, consumer goods, building materials, and a variety of other consumer and industrial applications. Lehigh is a late-stage venture-backed company with a growing revenue stream. In 2011, the company announced that over 100 million tires have been manufactured using Lehigh’s micronized rubber powder. Each pound of micronized rubber powder included in a tire saves 0.8 gallons of oil and 10 kilowatt hours of electricity.
About Lehigh Technologies (www.lehightechnologies.com)
Lehigh Technologies is a leading green materials manufacturer that turns end-of-life tire materials and other post-industrial rubber into sustainable powders that are used in a wide range of industrial and consumer applications. Lehigh is headquartered in Tucker, GA and is privately held and backed by leading investors in the US and Europe. For more information, please visit www.lehightechnologies.com.
About Leaf Clean Energy (www.leafcleanenergy.com)
Leaf Clean Energy Company is a renewable energy and sustainable technology investment firm. The firm’s investment strategy utilizes a rigorous, hands-on, and disciplined approach that draws from experience in operations, financing, and regulatory policy. Leaf invests in emerging growth companies and energy projects and has a diversified investment portfolio in North America. Leaf is listed on the London Stock Exchange’s Alternative Investment Market under the symbol LEAF. Further information is available at www.leafcleanenergy.com.
SOURCE Leaf Clean Energy Company