A Seoul-based startup LD Carbon, which specializes in pyrolysis, waste treatment and raw material recycling, received an equity investment from SK Incheon Petrochem, the petrol business subsidiary of SK innovation.

Based on its patented technology, LD Carbon produces Recovered Carbon Black (rCB) by utilizing the residue generated from the pyrolysis of waste tires and supplies it to domestic and foreign tire and rubber product manufacturers.

With the latest investment, LD Carbon will establish a new facility producing tire pyrolysis oil, which is produced as end-of-life tires decompose. Korea Development Bank will also help it by issuing new convertible bonds.

LD Carbon will supply SK Incheon Petrochem its tire pyrolysis oil that the petrochemical company can then use to make 20,000 tons of eco-friendly products per year starting in the first half of 2024.

About 400,000 tons of waste tires are landfilled in Korea every year, causing soil and water pollution that is hazardous to the environment.

"With the latest investment in LD Carbon, SK Incheon Petrochem will be able to secure know-how on tire pyrolysis oil to expand our position in the related industry," said SK Incheon Petrochem CEO Choi Yun-seok.

Source: LD Carbon.