Leaf Clean Energy invests $5 million in Lehigh

qiangzi

Monday, July 23, 2012
Washington, D.C. - Leaf Clean Energy, a renewable energy and sustainable technology investment firm, announced that it is partnering with Lehigh Technologies on 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 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.” 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 electri