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LD Carbon Closes $28M Investment to Scale Production of Sustainable Carbon Black and Pyrolysis Oil

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7 months ago

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Woven Capital leads Series C round to advance the circular economy by diverting used tires from landfills and supporting development of high-performance recycled car parts

SEOUL, South Korea, June 18, 2024 /PRNewswire/ — LD Carbon, a leading producer of recovered carbon black, closed a $28M Series C funding round led by Toyota’s growth fund, Woven Capital, with participation by  Meritz Securities, Investwith, Industrial Bank of Korea, Hyundai Motor Group ZER01NE, Elohim Partners and New Main Capital. LD Carbon will use the investment to scale operations to recycle end-of-life tires and material from end-of-life vehicles into recovered carbon black and pyrolysis oil through pyrolysis and material recovery technology, which in turn can be used to create new automotive parts and tires. The investment will advance LD Carbon’s mission of accelerating the circular economy while delivering material cost and carbon savings to global customers.

Manufacturing carbon black is a highly polluting process, generating 25 million metric tons of CO2 annually, while another 1.6 million metric tons come from the 28% of all waste tires that are burned — the combined CO2 equivalent of more than 9M passenger vehicles. LD Carbon’s pyrolysis and material recovery process uses patented recovered carbon black manufacturing technology to provide nearly 100% recovery of waste tires, providing an environmentally safe option for recovered carbon black (“rCB”) and developing pyrolysis oil.

“LD Carbon is solving a tough chemistry problem that continues to challenge manufacturers across the automotive supply chain as they face increasing pressure to embrace sustainability goals,” said Prashant Bothra, Woven Capital principal who is joining the LD Carbon board. “With a major plant under construction, the company is scaling their proven technology to maximize productivity and reduce the cost of creating high-performance recovered carbon black, offering substantial value compared to virgin materials. With regulatory and corporate tailwinds, a strong sales pipeline, and a first-mover advantage in Asia, we believe LD Carbon is well-positioned to play an important role in the sustainable future.”

Automakers are increasingly adopting increased recycled content for cars. This demand is driven by new corporate net-zero targets, emissions requirements, and European Commission proposals calling for car manufacturers to use 25% recycled plastic content, of which at least 5% must come from end-of-life vehicles.

“Our mission is to dramatically improve the sustainability profile of the automotive industry, while lowering costs,” said Seong Mun Baek, CEO and co-founder of LD Carbon. “Partnering with Woven Capital and other strategic investors will give us invaluable insights into scaling operations to support global OEMs as they seek to offer more sustainable vehicles to discerning consumers and business customers. Together, we can ensure automotive and its related industries are more environmentally friendly than ever while meeting high standards for cost and performance.”

LD Carbon is a leading producer of recovered carbon black (rCB) and tire pyrolysis oil (TPO) derived from waste tires. The company’s existing plant in Gimcheon, South Korea, has an annual capacity of over 7,000 tons of rCB, which is supplied to major tire and rubber product manufacturers. Additionally, LD Carbon has secured a 10-year supply agreement with SK Incheon Petrochemicals for its tire pyrolysis oil. The company is investing in the construction of Asia’s largest tire pyrolysis plant in Dangjin City, Chungcheongnam-do, with completion targeted in 2024. Its annual capacity will be 50,000 tons of end-of-life tires turned into 23,000 tons of TPO,20,000 tons of rCB, and 7,000 tons of other valuable gas and materials. LD Carbon is also co-developing key product specifications alongside industry leaders like several major global tire makers.

About LDC

LD Carbon Co., Ltd is an eco-friendly material industry company, which has developed leading technologies to produce green carbon black and pyrolysis oil from end-of-life tires. LD Carbon’s tire pyrolysis oil and recovered Carbon Black have passed quality assurance test programs from some of the leading global petrochemical and tire companies. LDC is building its first, mass-production pyrolysis factory, with 50ktpa end-of-life tire pyrolysis capacity in South Korea with deployment plan for the following plants in the other APAC region with prominent industrial groups. Learn more at https://en.ldcarbon.co.kr/.

About Woven Capital

Woven Capital is Toyota’s growth fund dedicated to realizing the promise of mobility — how people, goods, information and energy can move. Our global team of investors connects the world’s most promising innovators with the world’s most trusted automotive brand. Founded in 2021, we are investing nearly $800 million in startups that create new ways to connect cities, advance automation, harness and store energy, further electrification, and make our vehicles smarter. Learn more at woven.vc.

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SOURCE LD Carbon

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Singapore’s Sodion Energy Secures MWh Supply of US Developed Advanced Sodium-Ion Batteries from UNIGRID

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23 minutes ago

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January 12, 2025

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SINGAPORE, Jan. 13, 2025 /PRNewswire/ — Sodion Energy, a leading provider of sodium-ion batteries for e-mobility and integrated energy storage solutions in Southeast Asia, has secured a landmark agreement for an initial 10 MWh supply of advanced sodium-ion batteries developed by UNIGRID Inc., a California-based innovator in sodium-ion battery technology.

This collaboration strengthens Sodion Energy’s ability to address the region’s rising demand for affordable, eco-friendly, and high-performance battery solutions across mobility and energy storage sectors.

“Our collaboration with UNIGRID is a game-changer,” said Dr. CC Hang, Chairman of Sodion Energy. “These next-generation sodium-ion batteries will allow us to tackle key markets, starting with lead-acid battery replacements in e-mobility and extending into large-scale renewable energy projects and grid stabilization initiatives.”

Sodium-ion batteries offer distinct advantages, including cost-efficiency, enhanced safety, and the use of abundant raw materials, making them a sustainable choice for energy storage. With fast-charging capabilities and intrinsic non-flammability, they are exceptionally suited to Southeast Asia’s tropical climate and rapidly growing energy needs.

With a strategic focus on advanced battery technologies, Sodion Energy is poised to play a key role in driving Southeast Asia’s transition to cleaner, safer, and more sustainable energy solutions.

Website: https://sodione.com

Follow us on LinkedIn: Sodion Energy

About Sodion Energy

Headquartered in Singapore, Sodion Energy is an applications engineering leader driving the commercialization of Sodium-ion batteries across Southeast Asia. SE’s sodium-ion pack solutions are tailored to meet the diverse needs of industries such as mobility and energy storage, contributing to a more sustainable future.

View original content:https://www.prnewswire.com/apac/news-releases/singapores-sodion-energy-secures-mwh-supply-of-us-developed-advanced-sodium-ion-batteries-from-unigrid-302347661.html

SOURCE UNIGRID and Sodion Energy Pte. Ltd

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AirCheck Australia & New Zealand Renamed as RCS MEDIA MONITORS

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January 12, 2025

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SYDNEY, Jan. 13, 2025 /PRNewswire/ — AirCheck, a leading provider of broadcast monitoring services in Australia and New Zealand is pleased to announce its renaming as RCS MEDIA MONITORS, effective immediately.

AirCheck monitors songs and commercials providing almost real time reporting tools for radio and television broadcasters, music media, record companies, advertising agencies and industry analysts.

This change reflects the company’s growth, expanded service offerings, and a strengthened focus on providing comprehensive media intelligence.

The new name, RCS MEDIA MONITORS, builds on the expertise of its parent company, RCS, to offer enhanced monitoring solutions. By integrating RCS’s global technology and resources, the company will provide clients with a broader range of tools for tracking and analysing media campaigns across a variety of platforms and markets.

“We’re excited to take this step forward,” said Philippe Generali, President and CEO of RCS Global. “The rebranding to RCS MEDIA MONITORS allows us to expand our reach and improve our services, giving clients access to deeper insights and a wider array of media monitoring tools. With RCS’s support, we can offer more robust data and solutions that cover not just broadcast, but also digital and emerging media channels.”

The name change signals the company’s commitment to evolving with the changing media landscape. With RCS MEDIA MONITORS, clients can expect the same reliable monitoring services they’ve trusted for over 20 years in Australia and 15 years in NZ.

www.rcsmediamonitors.com.au

About RCS MEDIA MONITORS

RCS MEDIA MONITORS (formerly AirCheck) is a leading provider of broadcast monitoring and media intelligence solutions in Australia, New Zealand and India. The company helps clients across industries optimise media strategies, measure performance, and gain insights from a wide range of traditional and digital media. RCS MEDIA MONITORS is part of RCS, a global leader in broadcast automation and media technology.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/aircheck-australia–new-zealand-renamed-as-rcs-media-monitors-302347810.html

SOURCE RCS MEDIA MONITORS

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iM Global Partner mourns the passing of Philippe Uzan

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January 12, 2025

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PARIS, Jan. 13, 2025 /PRNewswire/ — It is with deep sadness that iM Global Partner (iMGP) announces the passing, one month ago, of our dear friend and colleague, Philippe Uzan.

 

 

Philippe’s exceptional career in asset management spanned more than 30 years and is marked by remarkable achievements in the organizations for which he worked and deep contributions to the industry as a whole. His passing is a tremendous loss to all who knew and worked with him.

Philippe joined iM Global Partner in February 2020 as Deputy CEO and CIO Global Asset Management, responsible for overseeing our financial strategies and products and designing value-added investment solutions for our clients across Europe and the United States.

His expertise spanned all asset classes, and he had a deep understanding of markets and their impact on investors and their investment needs. He was an eloquent man who contributed a number of papers and articles to the media, always with the intention of educating and making financial concepts more relatable. He has left an indelible mark on our organization and on the broader industry.

Prior to joining iM Global Partner, Philippe was latterly Chief Investment Officer at Edmond De Rothschild Asset Management, where he worked for 11 years and where he led the portfolio management teams, optimizing the synergies between analysis and portfolio management. He previously spent three years as Research and Global Asset Allocation Director, where he developed the portfolio management and research teams and modernized investment processes and the product range.

Philippe began his career as an Equity Derivatives Trader at Société Générale and held roles at AGF Asset Management (now part of Allianz Global Investors) and Natixis AM.

Throughout his career, Philippe’s outstanding intelligence, humility, and collaborative spirit earned him the respect and admiration of his peers.

Philippe Couvrecelle, Founder and CEO of iM Global Partner, expressed his heartfelt condolences: “It was with infinite sadness and pain that I learned of Philippe’s passing from a devastating illness. I had known Philippe closely for almost 20 years, as we worked together for Natixis, Edmond de Rothschild and iMGP. I pay immense tribute to his humanity, his sense of humor, his brilliant intelligence and his presence, which I will deeply miss. We had shared so much and still had so much to do together. In his memory, we will continue our path forward with strength, success and intensity, always preserving our values and our company culture to which he was so attached.

We will all miss Philippe enormously at iM Global Partner. He will be remembered not only for his professional achievements but also for his warmth, generosity, kindness and his unwavering dedication to his colleagues and community. Our thoughts are with his wife and three children, his family, friends and loved ones during this difficult time.”

CONTACT: media@imgp.com

 

 

SOURCE iM Global Partner

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