Bolder Industries to supply Tauber with oil from tire pyrolysis
Bolder Industries, Inc., the pioneer of advanced sustainable chemical manufacturing sourced from end-of-life tires, announced today a landmark 20-year strategic marketing agreement with Tauber Oil Company, an independent wholesale marketer of petroleum and petrochemical product, for exclusive offtake of BolderOilTM — tire pyrolysis oil. United in both companies' ongoing desire to build relationships that accelerate the growth of sustainable materials, this partnership provides Tauber Oil with the largest allocation and supply of tire-derived, sustainable oil known in the industry by way of a proven industry pioneer.
For the next 20 years, Tauber Oil will be BolderOil's exclusive buyer, acquiring about two million barrels per year as supply becomes available from Bolder's aggressive capacity expansion plans. Tauber will also oversee all administrative and sales services between Bolder Industries and its global customers, including logistics, consulting, billing, and fulfillment. Tauber will consult with Bolder on the design and engineering of any storage offtake and infrastructure at its present and upcoming facilities.
Bolder Industries has a longstanding history of success and market acceptance with BolderOil and currently produces three grades: BolderOil Heavy, BolderOil Light, and BolderOil Base. BolderOil has applications in renewable fuels, as a replacement oil in ASTM grade carbon blacks, oil and gas well cleanup, and chemical solvents. As a sustainably derived product, BolderOil increases environmental savings for end customers and, because it is decoupled from oil indices, can also improve pricing stability.
This partnership enables Tauber Oil to better serve its largest global customers by ensuring that they can meet all regulatory requirements while maintaining continuous access to renewable petrochemicals. Both sides recognize that now is an excellent time to form a long-term partnership, given the increased demand for renewable and sustainable petrochemicals and the fact that Bolder Industries has contracts in place for roughly half of its projected BolderOil production through 2027.
Tauber Oil's President, Jonathan Tauber, stated, "For years, we've closely monitored the race to turn tires to high-quality petrochemicals but, until we met the Bolder Industries team, we had yet to see it accomplished successfully at commercial scale. After visiting their facility, it was immediately apparent they were doing something special. Now, through arduous due diligence, we are confident and eager to provide sustainably derived petrochemicals at the level of quality, consistency, and specifications our customers demand. We expect this partnership will give way to expansion and deliver meaningful environmental impact that our customers and the world needs."
"Strategic investments and alliances such as this signal the next phase for our hyper-growth company," says CEO of Bolder Industries Tony Wibbeler. "This relationship enables us to grow our petrochemical business exponentially with a well-known and highly respected partner that we are very pleased to be working with day to day."
Tauber was a part of Bolder Industries' $80 million investment in 2021, which helped in the expansion of the company's current facility in Maryville, Missouri, as well as the acquisition of a facility in Terre Haute, Indiana, and the recently announced European expansion in the Port of Antwerp. Additional facilities are planned for 2023 and beyond, both locally and internationally, to accommodate increased demand from automotive, plastics, rubber, and sustainable petrochemicals manufacturers seeking to meet their environmental, social, and corporate governance (ESG) goals. When compared to standard production techniques, Bolder's recovery process repurposes 98% of each tire, reducing greenhouse gas emissions, water use, and power usage by 85%.
"To be able to take something as notoriously synonymous with pollution as an old tire and repurpose it into literally hundreds of different useful products is an incredible achievement by Bolder Industries," said David Tauber, Sr., Chairman of Tauber Oil. "We at Tauber Oil are delighted to have a hand in bringing to market products from our industry that not only reduce production emissions and natural resource use but keep millions of tires out of landfills every year."
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