Bolder Industries’ Antwerp Plant Gets €32M EU Grant
Antwerp – May 23, 2024 – Bolder Industries has been awarded €32 million from the EU innovation Fund to establish a circular economy plant in Antwerp, Belgium. The funding will support the construction of a state-of-the-art facility designed to recycle end-of-life tires. The project highlights Bolder Industries’ commitment to enduring practices and is expected to generate significant environmental and economic benefits. For expert insights, read on.
Bolder Industries Forges Ahead with €32 Million EU Grant for Circular Economy Plant in Antwerp
Antwerp, Belgium, and Boulder, Colo. – Bolder Industries Belgium, a subsidiary of Bolder Industries LLC, has secured a significant €32 million grant from the European Commission’s EU Innovation Fund. This funding will propel the construction of a cutting-edge facility in Antwerp, Belgium, designed to revolutionize the recycling of end-of-life tires.
The EU Innovation Fund, recognized as one of the world’s largest programs supporting innovative, low-carbon technologies, confirmed the grant after thorough due diligence. This investment underscores Bolder Industries’ commitment to circular economy solutions and follows a considerable growth investment by Tiger infrastructure Partners earlier this year.
Revolutionizing Tire Recycling: A State-of-the-Art Facility
The new facility, spanning 55,152 square meters at the Port of Antwerp, will feature four proprietary reactors and an advanced finishing line. It is indeed designed to process over 6 million end-of-life tires annually, transforming them into Bolder Industries’ sustainable raw materials: BolderBlack™ and BolderOil™.
- BolderBlack™: The facility will produce nearly 18,000 metric tons annually of BolderBlack, a validated alternative to virgin carbon black used in over 3,000 commercial products.
- BolderOil™: Approximately 21,000 metric tons of BolderOil, a sustainable liquid resource replacing fossil-based oils in petrochemical applications, will also be produced.
Bolder Industries’ circular process achieves more than an 80% reduction in greenhouse gas emissions compared to conventional production methods. The company’s products are supplied to global tire manufacturers, petrochemical companies, and renewable fuel producers, including Profiltra, a Netherlands-based industrial conglomerate.
Industry Viewpoint: The demand for Sustainable Materials
Patrick cobussen, CEO of Profiltra, emphasized the importance of sustainable raw materials in today’s market.
Environmental obligation is at the core of our values. Our partnership with Bolder Industries is a direct response to the increasing demand from our customers for sustainable options. Bolder’s circular materials enable us to meet this demand while upholding our commitment to quality and performance.
Patrick Cobussen,CEO of Profiltra
Project Timeline and Environmental Stewardship
Construction at the port of Antwerp is scheduled to begin in 2026,with full operational capacity expected in the second quarter of 2027. The facility will be powered by renewable energy sources, including wind and recovered heat, demonstrating a commitment to environmental stewardship.
The project represents a significant investment in Flanders and is projected to create at least 50 new jobs in the region. This initial phase is part of Bolder Industries’ broader plan to more than double the facility’s capacity in future expansions.
Tiger Infrastructure’s Role in European Expansion
Emil W. Henry, Jr., CEO and CIO of Tiger Infrastructure Partners, highlighted the firm’s strategy of supporting U.S. infrastructure platforms in their european expansion.
Tiger infrastructure has a proven track record of helping US infrastructure platforms like Bolder expand into Europe, and vice versa. We are excited to support Bolder’s growth by investing our capital to construct new circular economy projects like Antwerp in both the US and Europe in collaboration with key customers and funding sources like the EU Innovation Fund.
Emil W. Henry, Jr., CEO and CIO of Tiger Infrastructure Partners
About Bolder industries
Bolder Industries provides traceable, mass-balanced circular solutions for the rubber, plastics, and petrochemical sectors. The company converts end-of-life tires into sustainable, high-performance materials using a proprietary process that produces ISCC PLUS certified BolderBlack® and BolderOil™. This process reduces emissions and resource use by up to 85% compared to traditional methods. Backed by Tiger Infrastructure Partners, Bolder Industries is expanding its global footprint to meet the increasing demand for circular manufacturing.Its products are used by leading brands in the automotive, construction, and consumer goods sectors. The company is ISO 9001 certified and holds a Silver EcoVadis rating. For more information, visit www.bolderindustries.com.
About Tiger Infrastructure Partners
Tiger Infrastructure Partners is a private equity firm focused on providing transformational growth capital to middle-market infrastructure companies. The firm targets growth investments across the Digital Infrastructure, Energy Transition, and Transportation sectors in North America and Europe. Tiger Infrastructure has offices in New York and London.