Bolder Industries and Tauber Oil Partnership Charts New Path for Petrochemical Sustainability
The 20-year agreement provides Tauber Oil with the largest allocation and supply of tire-derived, sustainable oil known in the industry
BOULDER, Colo., January 19, 2022 (Newswire.com) - Bolder Industries, Inc., the pioneer of advanced sustainable chemical manufacturing sourced from end-of-life tires, announced today a landmark 20-year strategic marketing agreement with Tauber Oil Company, an independent wholesale marketer of petroleum and petrochemical product, for exclusive offtake of BolderOilTM, its sustainably derived petrochemical product. United in both companies' ongoing desire to build relationships that accelerate the growth of sustainable materials, this partnership provides Tauber Oil with the largest allocation and supply of tire-derived, sustainable oil known in the industry by way of a proven industry pioneer.
Tauber Oil will be the exclusive purchaser of BolderOil for 20 years, acquiring approximately two million barrels per annum as supply becomes available from Bolder's aggressive capacity build-out plans. Tauber will also manage all administrative and sales services including logistics, consulting, billing, and fulfillment between Bolder Industries and its global customers. In turn, Tauber will consult with Bolder on the design and engineering of any storage offtake and infrastructure at its current facility and future planned facilities.
Bolder Industries has a longstanding history of success and market acceptance with BolderOil and currently produces three grades: BolderOil Heavy, BolderOil Light, and BolderOil Base. BolderOil has applications in renewable fuels, as a replacement oil in ASTM grade carbon blacks, oil and gas well cleanup, and chemical solvents. As a sustainably derived product, BolderOil increases environmental savings for end customers and, because it is decoupled from oil indices, can also improve pricing stability.
This partnership allows Tauber Oil to better serve its largest global customers by ensuring their ability to meet all regulatory guidelines while providing access to renewable petrochemicals on a consistent basis. Both parties recognize this is an ideal time to solidify a long-term partnership driven by heightened demand of renewable and sustainable petrochemicals and considering that Bolder Industries has existing contracts for nearly half of its estimated BolderOil production through 2027.
Jonathan Tauber, President of Tauber Oil, commented, "For years, we've closely monitored the race to turn tires to high-quality petrochemicals but, until we met the Bolder Industries team, we had yet to see it accomplished successfully at commercial scale. After visiting their facility, it was immediately apparent they were doing something special. Now, through arduous due diligence, we are confident and eager to provide sustainably derived petrochemicals at the level of quality, consistency, and specifications our customers demand. We expect this partnership will give way to expansion and deliver meaningful environmental impact that our customers and the world needs."
"Strategic investments and alliances such as this signal the next phase for our hyper-growth company," says CEO of Bolder Industries Tony Wibbeler. "This relationship enables us to grow our petrochemical business exponentially with a well-known and highly respected partner that we are very pleased to be working with day to day."
Tauber was part of the 2021 $80 million investment in Bolder Industries, which assisted in the expansion of its current facility in Maryville, Missouri, and acquisition of a Terre Haute, Indiana, facility and newly announced European expansion in the Port of Antwerp. Additional facilities, both domestically and overseas, are planned in 2023 and beyond to meet rising demand from automotive, plastics, rubber, and sustainable petrochemicals manufacturers looking to meet their environmental, social, and corporate governance (ESG) goals. In Bolder's recovery process, 98% of each tire is repurposed, reducing greenhouse gas emissions, water, and power usage by 85% compared to traditional manufacturing processes.
"To be able to take something as notoriously synonymous with pollution as an old tire and repurpose it into literally hundreds of different useful products is an incredible achievement by Bolder Industries," said David Tauber, Sr., Chairman of Tauber Oil. "We at Tauber Oil are delighted to have a hand in bringing to market products from our industry that not only reduce production emissions and natural resource use but keep millions of tires out of landfills every year."
About Tauber Oil
Founded in 1953 as the first of what would become collectively The Tauber Companies, Tauber Oil Company has experience in marketing and logistics in many petroleum products such as Feedstocks, Natural Gas and Natural Gas Liquids, Carbon Black Feedstocks, Crude Oil, and Petrochemicals. Tauber Oil Company prides itself on superior customer service and honest relationships. Tauber Oil Company is privately held and currently under the direction of Jonathan Tauber and David Tauber, Jr. For more information, visit https://tauberoil.com/.
About Bolder Industries
Founded in 2011, Bolder Industries, Inc. provides circular solutions for rubber, plastic, and petrochemical supply chains by converting end-of-life tires into sustainable carbon black (BolderBlack®), petrochemicals (BolderOilTM), steel (BolderSteelTM), and power. The Company has developed and scaled a proprietary process that uses an average of 85% less water, greenhouse gasses, and energy than traditional methods while utilizing 98% of every scrap tire. As a Certified B Corp and ISO 9001 company, Bolder Industries is committed to environmental, social, and governance matters that form the core of its mission. To learn more, visit www.bolderindustries.com.
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Vice President - Corporate Development
Source: Bolder Industries