Mons, Belgium — December 7th, 2020 — Mons based tech start-up, RubberGreen has closed a EUR2.6 million funding round to bolster operations, invest in technology and product development and accelerate growth following a surge in industrial demand for composite rubber insulation and anti-vibration products.
RubberGreen is the specialist of composite rubber and is active in the design and manufacture of high value-added solutions based on recycled rubber. Its innovative platform recycles used rubber to manufacture insulation and anti-vibration solutions with high-tech properties for applications in railway, and construction & building industries.
The time is now for RubberGreen to expand its production capacity and develop new products
Established in 2009, RubberGreen has recently invested in a brand-new production facility and in technology development. Leveraging its innovations and expertise, the company is experiencing 50% growth year on year.
The EUR2.6 million funding round is led by GREEN.er, an innovation fund established by Recytyre and managed by The King Baudouin Foundation. Co-investors in the round are responsible and sustainable investment group Treïs and local financing investment company IMBC.
In addition to the financial resources to support its development, RubberGreen attracts Francois Cornelis, Chairman of the Innovation Fund, to join the company board as chairman.
Scaling manufacturing capabilities and developing new technologies to solve the rubber recycling crisis.
RubberGreen will invest the new funds to progress its technology development program, expand its production capacity and boost the commercial expansion in new applications and new markets
Olivier Prud’homme, founder of RubberGreen and CEO said:
“We have been working towards this goal at RubberGreen for almost 10 years now — Our specialized products are now produced at scale to satisfy highly demanding industrial customers, with 100% composite rubber. Given how much rubber waste there is, we can see that our approach focused on recycle and reuse for demanding applications brings a truly circular economy solution and creates high value. So, we’re so excited to expand our manufacturing capacities and continue our research in innovative recycling technologies.
We are delighted to welcome such high-quality investors on board who share our vision and see the scale of the opportunity in front of us. Having the backing and endorsement of GREEN.er and Treïs exemplifies our goal to create a leader in this specialized market.
We would also like to commend and thank our existing investor IMBC and our team of over 26 employees for their commitment, passion and contribution in getting us to this important milestone.”
Established in 2017 at the impetus of Recytyre, the management company for end-of-life tyres in Belgium, and managed by the King Baudouin Foundation, the Green.er fund works towards the diversification of the sales outlets for raw materials derived from the recycling of used tyres in Belgium.
The fund focuses its attentions both on the world of academia and the world of trade and industry. The fund supports innovative projects, linked to the rubber industry, which have a potentially positive impact on employment and deliver distinct added value for the recycling sector, with the aim of ensuring optimum integration into circular thinking.
The fund is hosted by the King Baudouin Foundation. Its capital is 4.5 million euros.
Treïs is an investment group operating and investing in both the real economy and financial assets and services. We seek to deliver financial performance and sustainability resulting in sound returns with positive economic and social impact. Our diverse portfolio is built around a multi-asset management platform, growth investment and ventures mandates.
Treïs aims to achieve economic performance whilst preserving and protecting the environment and society. Our investment partners are companies contributing to the transition towards a more sustainable economic and social model.
IMBC S.A. was set up in 1989 at the initiative of the Walloon Region.
Our activities focus on creating and developing small and medium-sized businesses by contributing to fund their investment projects and / or meet their cash flow needs. We prioritize funding for both ground-breaking and/or innovative niche activity sectors and the “traditional” sectors.
To date, IMBC has invested in its area nearly 460,000,000 € in some 1,000 companies.
IMBC has been a financial partner of RubberGreen since its creation in 2009. Today, we are particularly pleased to participate alongside specialist investors and the founders in this crucial new stage in the evolution of the company.