SCRA Announces SC Launch Investment in Recleim
Summerville, S.C. – SCRA’s entrepreneurial program, SC Launch, Inc., recently finalized an investment for Recleim, based in Graniteville, SC. This is the second tranche for the company who was accepted as an SC Launch Client Company in December 2013. The investment was part of Recleim’s recent $5 million equity round to assist with their rapid growth and expansion in Graniteville.
Recleim is an innovative, next-generation appliance recycling company specializing in closed-loop resource recovery through use of proprietary design and technology unmatched in the marketplace. Using their state-of-the-art equipment, Recleim recovers approximately 95% (by weight) of the commodity components in the appliances it recycles. Recleim also captures and destroys refrigerants and greenhouse gases trapped in the insulating foam of refrigerating appliances and other white goods. The company has experienced unprecedented growth in appliances recycled since 2015. In 2013, Recleim invested in their first de-manufacturing facility located in Graniteville, SC which now employs over 120 people. In addition, they now operate two other de-manufacturing facilities and 9 logistics hubs across the eastern half of the United States.
"At a time when customers expect businesses to stand for more than just their financial statements, businesses are searching for a way to make a real impact and form real connections with their customers,” said Steve Bush, Recleim CEO. “Recleim is dedicated to helping businesses and organizations usher in renewal: renewal of the environment, renewal of communities, and renewal of how business is done."
“Recleim and their CEO, Steve Bush, are revitalizing Graniteville.” said Director of Entrepreneurial Programs and SC Launch Inc. Executive Director, Jill Sorenson. “The company’s tremendous growth over the past two years is impressive. We are proud to be a part of the growth.”
SCRA is a state-chartered organization that fosters job creation and grows South Carolina’s Innovation Economy. The SC Launch program is SCRA’s entrepreneurial platform that provides mentoring, grants and investments to qualified, South Carolina companies in the Advanced Materials/Manufacturing, Information Technology and Life Sciences industries.
Chartered in 1983 by the State of South Carolina as a public, non-profit corporation, SCRA fosters South Carolina's Innovation Economy by supporting entrepreneurs, enabling academic research and its commercialization, and connecting industry to innovators.