Pretred, a Colorado-based company that produces industrial barriers from >95% recycled materials, has announced a $3 million seed investment led by HG Ventures, the corporate venture arm of The Heritage Group.
Pretred team and barriers. Image Credit: Pretred
Pretred will use this investment to scale its US-based tire and plastic recycling process to meet the growing demand for green construction products. Pretred is a graduate of the 2020 cohort of The Heritage Group Accelerator Powered by Techstars®, a program for mentoring and developing early-stage companies in the hardtech industries of advanced materials, infrastructure, and environmental services.
Tire waste has become a worldwide environmental challenge, with >1 billion sent to the landfill or burned every year. The Pretred technology recycles approximately 65,000 tires for every mile of barriers (880 barriers). These barriers reduce 98% of equivalent CO2 emissions vs. concrete barriers, providing a sustainable product for use in construction, roads, parks and beyond.
"By successfully raising our seed round, we can accelerate our scale up and deploy our barriers and blocks in markets that are in immediate need of high-performance sustainable materials," said Eric Davis, Chief Executive Officer at Pretred. "We value our partnership with The Heritage Group and have already tapped into their technical and market expertise in construction materials and the circular economy."
"We are thrilled to have the opportunity to invest in Pretred, as we have been impressed with the creativity, experience and passion of their management team," said Ginger Rothrock, Senior Director at HG Ventures and Pretred board member. "We believe that Pretred is a pioneer in the manufacture of green construction materials by fashioning beautiful, rugged, and environmentally-responsible construction products from some of the worst polluting materials in the world."
Source: https://www.pretred.com/