LOS ANGELES--(BUSINESS WIRE)--CIM Group announced today that it has expanded its investment in Bolder Industries, a pioneer in converting end-of-life tires into sustainable carbon black and petrochemical alternatives.
CIM Group’s expanded partnership with Bolder Industries, a certified B Corporation, will support the organization’s growth and advancement of ESG initiatives on a global scale. Certified B Corporations are global businesses that have been rigorously vetted for adherence to social and environmental standards and that are committed to balancing purpose and profit.
Since its founding in 2011, Bolder Industries has been a leader in the waste-to-value sector by turning end-of-life tires into raw resources through its proprietary low-emissions process. Bolder Industries’ flagship product is BolderBlack®, a more sustainable and less expensive alternative to virgin carbon black—a petroleum product used primarily in tire, rubber, and other black plastic production. The company also produces recycled oil that it sells under the BolderOil™ name and steel known as BolderSteel™. CIM Group was an early investor with Bolder from the development of its first production facility to delivery to market of its products.
“CIM Group believes in Bolder Industries as we have seen firsthand the evolution from development of the first production line reusing what historically was deemed waste, to today as the company provides customers with valuable, sustainable products. Our additional support aids the company’s expansion of its highly regarded products and programs. Bolder Industries’ approach and products place it at the forefront of sustainable industries which aligns with CIM’s longstanding ESG commitment,” said Avi Shemesh, Co-Founder and Principal, CIM Group.
Bolder Industries products are currently used in more than 300 products including tires, automotive parts, wetsuits, phone cases, and more, and meets the needs of global brands that are committed to sustainability, greenhouse gas emission offsets, and reduced water and power use.
Bolder Industries’ expansion comes on the convergence of three global trends: increased consumer demand for sustainability; the shift of environmental responsibility from consumers to product producers; and the increase in speed to scalability.
“Our vision is to transform what it means to be a sustainable, environmentally-conscious company and we’re incredibly humbled by the support we’ve gained to do so,” said Tony Wibbeler, Bolder Industries CEO. “Bolder Industries is scaling at such a speed that enables existing customers to expand their business with us when they want to and new partners can see impact quickly.”
Since its inception in 1994, CIM has focused on real estate and infrastructure projects that serve the needs of communities throughout the Americas and is committed to investing in sustainable assets. In addition to Bolder Industries, CIM is an investor in an affiliate of MAS Energy, LLC, a privately held owner, developer, and operator of North American Renewable Natural Gas (“RNG”) production assets and biogas to power facilities.
About CIM Group
CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.
About Bolder Industries
Founded in 2011, Bolder Industries provides circular solutions for rubber, plastic and petrochemical supply chains. The company has developed and scaled a proprietary solution that recovers 98% of scrap tires by extracting high quality petroleum-based ingredients and steel, while helping customers achieve their corporate sustainability goals. Its flagship product, BolderBlack®, is a less expensive, more sustainable alternative to virgin carbon black. To learn more, visit www.bolderindustries.com.