Reklaim Technologies, a Bellevue, Wash.-based startup that has developed a clean process of breaking down tires, has raised $7 million of a $10 million Series B round led by Goldman Sachs, according to PEHub.
Founded in 2003, Reklaim says its tire breakdown process releases less air pollutants and greenhouse gases than more traditional methods. The company shreds the tire and places the pieces in a processing unit, where they’re heated to remove volatile gases, which leaves just carbon and steel. The gases are then condensed into oil, while the carbon and steel are reused in various ways. Reklaim says its process can also be used for computers and automobile plastics.
We contacted the company and will update the story when we hear more.