Temple, Texas-based IntegriCo Composites Inc. said it has raised $9 million in its venture capital funding to expand its composite railroad crosstie business.
The company makes crossties from recycled plastic, including post-industrial polyethylene and PVC.
IntegriCo announced that the new funding comes from investors including Acadia Woods, JH Whitney Investment Management, Rocky Point Ventures, Chart Venture Partners and railroad company veterans.
IntegriCo credited its new CEO, Scott Mack, with helping to attract the new investments. Mack joined IntegriCo in July. He previously was president of ArmorStruxx International Group, a composites materials design and manufacturing company.
IntegriCo started manufacturing in 2007.