Recleim receives second investment

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SC Launch has made a second investment in Recleim, part of the appliance recycling company’s recent $5 million equity round, to assist with growth and expansion in its home base of Graniteville.

Recleim provides recycling and recovers resources for refrigerators and other large appliances while also providing disposal. According to the company’s website, it recovers close to 95% (by weight) of the components in the appliances it recycles. During the recycling, refrigerants and greenhouse gases in the appliances are trapped and destroyed.

In 2013, Recleim invested in its first de-manufacturing facility in Graniteville, which now employs more than 120 people. The company also operates two other de-manufacturing facilities and nine logistics hubs around the country.

“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,” Steve Bush, Recleim CEO, said in a statement.

Jill Sorenson, executive director at SC Launch, said Recleim is revitalizing Graniteville. “The company's tremendous growth over the past two years is impressive. We are proud to be a part of the growth,” she said.

SC Launch is the entrepreneurial investment arm of the South Carolina Research Authority, a state-chartered job creation and innovation-focused organization. SC Launch provides mentoring, grants and investments to qualified, South Carolina companies in the advanced materials/manufacturing, information technology and life sciences industries.