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Lehigh raises $16 million for expansion, R&D

August 22, 2012

TUCKER, GA. (Aug. 22, 12:10 p.m. ET) — Lehigh Technologies Inc., developer and manufacturer of micronized rubber powders for the tire and polymeric product manufacturing industries, has raised $16 million from its investors for expansion and for research and development efforts, the company said.

Leaf Clean Energy Co., a renewable energy and sustainable technology investment firm, led this round of investment, Lehigh said. Kleiner Perkins Caulfield Byers, Index Ventures and NGP Energy Technology Partners also participated, it said.

Based in Tucker, Lehigh Technologies transforms scrap tire rubber and post-industrial rubber into powders that can be used in manufacturing high-performance tires, consumer and industrial plastics goods, rubberized asphalt, coatings and construction materials, the company said.