Pretred Announces $3 Million Investment
Pretred, a Colorado-based business specializing in creating industrial barriers with over 95% recycled materials, has announced that it has received a $3 million seed investment, marking a remarkable milestone.
Leading the investment is HG Ventures, the corporate venturing arm of The Heritage Group. This funding marks a critical step for Pretred as it prepares to expand its operations. The purpose of this investment is to support Pretred’s tire and plastic recycling process, helping to meet the growing demand for environmentally friendly building supplies.
Pretred’s core ethos revolves around a steadfast commitment to both sustainability and innovation. Central to its operations is the deployment of a patented method that enables the recycling of approximately 65,000 tires per mile of barriers constructed. This innovative approach not only addresses the pressing issue of tire waste management on a global scale but also yields substantial environmental benefits. By significantly reducing carbon dioxide emissions compared to traditional concrete barriers, Pretred’s barriers emerge as a compelling solution to the sustainability challenges facing the construction industry. Through its pioneering efforts, Pretred is at the forefront of driving positive change by seamlessly integrating sustainable practices into its operational framework.
Eric Davis, CEO of Pretred, expressed his excitement regarding the company’s future prospects. He articulated that the successful acquisition of their seed funding will enable Pretred to expedite its expansion plans and introduce their eco-friendly barriers and blocks to markets with a pressing demand for sustainable materials. Davis underscored the significance of partnering with The Heritage Group, leveraging their expertise in construction materials and the circular economy to propel Pretred’s initiatives forward.
Davis’s words were echoed by Ginger Rothrock, Senior Director at HG Ventures and member of the Pretred board, who emphasized the company’s creative use of green construction materials. “We are thrilled to have the opportunity to invest in Pretred,” Rothrock stated. “We believe that Pretred is a pioneer in the manufacture of green construction materials by fashioning beautiful, rugged, and environmentally-responsible construction products from some of the worst polluting materials in the world.”
Pretred’s narrative stands out as a compelling illustration of the construction industry’s evolving commitment to sustainability. With tire waste emerging as a prominent environmental concern on a global scale, initiatives such as Pretred’s hold considerable promise in addressing this pressing issue. The company’s steadfast dedication to harnessing cutting-edge innovations for sustainable development is vividly showcased through its active participation in The Heritage Group Accelerator Powered by Techstars. This engagement underscores Pretred’s proactive approach to staying at the forefront of sustainable practices within the construction sector, positioning it as a leader in driving positive environmental change.
This investment is part of a larger trend towards sustainable solutions across multiple industries, and it follows closely on the heels of HG Ventures’ joint efforts with other creative companies. To further demonstrate its dedication to encouraging eco-friendly behaviour, HG Ventures announced in February that it will be collaborating with Romeo Power Inc. to build a facility for the reuse and recycling of lithium-ion batteries. The funding infusion positions Pretred for sustained success in the growing market for sustainable construction goods as the company expands its reach.
