Bolder Industries Inc., a producer of sustainable raw materials from scrap tires, has purchased a 66,000-square-foot Pyrolyx USA Indiana production facility in Terre Haute, Ind., for Bolder's proprietary scrap tire recycling processes.
Terms of the transaction were not immediately known.
The facility, intended to meet customer demand for sustainable oils and carbon blacks by early 2023, will be retrofitted using an initial $40 million investment.
The plant is expected to create about 40 jobs in western Indiana, and capacity is estimated to increase three-fold for Bolder when production begins — diverting about 3 million tires from landfills or burning.
"As a native Hoosier, it's incredibly rewarding to come back to my home state and revive a great concept and facility," said Bolder Industries CEO Tony Wibbeler. "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."