Leaf Clean Energy Company, the investment firm that focuses on renewable energy and sustainable technology, has invested US $5 million in green materials manufacturer, Lehigh Technologies (Lehigh).
Lehigh’s flagship product is energy-conserving micronized rubber powder derived from end-of-life tire materials and industrial rubber.
Alan Barton, Chief Executive Officer at Lehigh Technologies, expressed pleasure at Leaf Clean Energy’s investment and stated that Lehigh’s core market strategies were in line with Leaf Clean Energy’s approach to sustainable technologies.
Bran Keogh, Executive Director of Leaf Clean Energy, stated that the company’s mission was to back initiatives that incorporate economically viable models to achieve environmental sustainability. He said that Lehigh’s product not only has a great value proposition for their customers but also addresses an environmental problem.
Lehigh employs proprietary technology to convert end-of-life rubber into high quality powders called as micronized rubber powders or MRP. The powders are used in tires, building materials, consumer goods and in other industrial applications. Over 100 million tires were manufactured using MRP in 2011. The benefits of incorporating MRP in tires are savings amounting to 10 kWh of electricity and 0.8 gallons of oil per pound of MRP. The increase in demand for the micronized rubber powders is attributed to rise in polymer and rubber prices accompanied by increasing energy costs. Lehigh will work with Leaf Clean energy for geographical and industrial expansion.