STAMFORD, Conn. — Commodities merchant Castleton Commodities International L.L.C. has bought majority ownership of Delta-Energy Group L.L.C., a resource recovery company providing recycling solutions to the tire industry, including a patented process to recover carbon black and marketable liquid chemicals from used tires.
Bridgestone Americas, which is considered an "early-stage investor" in Delta-Energy dating back to 2014, will continue to be an active, but minority, investor, Castleton said.
Delta-Energy claims its carbon-black recovery process provides a significant reduction of carbon emissions compared with traditional processes for producing virgin carbon black and fuel oils.
Financial terms of Castleton's investment are not being disclosed.
Proceeds from the investment will be used to develop a commercial-scale plant in Natchez, Miss., with an estimated daily processing capacity of 100 tons of end-of-use-tires, Castleton said.