Bolder Industries Inc., which converts used tires into carbon black, petrochemicals, steel and power, has purchased the former Pyrolyx facility in Terre Haute, Ind.
The 66,000-square-foot location, which ceased operations in March 2020, will be retrofitted to increase Bolder’s manufacturing capacity within the first year of operations.
The initial phase is expected to be completed in early 2023 and is estimated to divert about three million tires from landfill or burning, according to a press release.
Bolder’s charter products, BolderBlack and BolderOil, will see an overall increase of almost three times their production capacity.
Bolder Industries plans to invest about $40 million into the first phase of the Terre Haute project and will add more than 40 new employees to operate the facility.
“As a native Hoosier, it’s incredibly rewarding to come back to my home state and revive a great concept and facility,” Bolder Industries CEO Tony Wibbeler said in a statement. “The Terre Haute facility is in an excellent location and has great elements that complement our proprietary technology and process. This purchase enables us to expand our capacity to meet current customer demand now and provides for future growth.”
The Terre Haute facility is the second manufacturing facility that Bolder has acquired and retrofitted. The company in 2014 purchased and retrofitted a facility in Maryville, Mo. That location has continued production 24 hours a day since it began full commercial operations in February 2019, the company said.
Bolder supplies sustainable raw materials in the petrochemical, tire, manufactured rubber goods, plastics and auto spaces. The company in October announced that it had raised $80 million in an equity round.
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