Summary
PCAP supports energy independence with its investment in Bionic Tire Recycling, a 42,000-square-foot facility in WV repurposing tires for industry. Funded through WVCAP, the project boosts job creation and energy resilience.
Partner Community Capital (PCAP) continues to drive environmental sustainability with its investment in Bionic Tire Recycling in Preston County, West Virginia. The facility, spanning 42,000 square feet, will address the growing tire waste issue by transforming used tires into reusable materials for industries like construction, manufacturing, and energy production.
The plan uses advanced technologies to recycle tires efficiently. The process begins with shredding the tires into small pieces, which are then processed to separate the steel and fiber components. The remaining rubber is further ground down into crumb rubber, a versatile material that can be used in a variety of applications, such as asphalt for roads, rubber mats, and even new tires.
PCAP’s loan was made through the West Virginia Capital Access Program (WVCAP), which provides funding to support economic development projects across the state. WVCAP is designed to stimulate lending to small businesses like Bionic Tire Recycling, enabling them to access much-needed capital. PCAP, in partnership with First United Bank & Trust and the West Virginia Economic Development Authority (WVEDA), ensures that critical projects like this move forward.
“We’re proud to support this innovative bionic tire recycling project through WVCAP,” said Kevin O’Connor, Senior Vice President & Central Appalachian Market Manager for PCAP. “Tire waste is a significant environmental issue, and Bionic Tire’s solution not only addresses that challenge but also provides new opportunities for sustainable development and job creation in the region.”
Tim Davis, Chief Operating Officer of Bionic Tire Recycling, shared his excitement about the project: “This facility represents a transformative step in tire recycling. Not only will we be able to divert waste from landfills, but we’ll also create valuable products that can help reduce our reliance on new materials. Our approach emphasizes innovation and sustainability.”
“By aligning business growth with energy independence, we’re building a circular economy that benefits everyone,” Davis added.
Once fully operational, the facility is designed to divert thousands of tires from landfills, repurposing them into valuable materials. This initiative not only addresses environmental challenges but also stimulates local economic growth.
Through its partnership with WVCAP, PCAP reinforces its commitment to supporting innovative, sustainable projects that have a positive impact on both the economy and the environment.
