PRESS RELEASE, MITRCF becomes Carbon Conversions, Inc
Published on: Mar 4, 2016
Transcripts - PRESS RELEASE, MITRCF becomes Carbon Conversions, Inc
MIT-RCF Announces Corporate Name Change to Carbon
August 28, 2015 02:19 PM Eastern Daylight Time
LAKE CITY, S.C.--(BUSINESS WIRE)--MIT-RCF, LLC today announced that it has
completed its transition to Carbon Conversions, Inc. On June 30, 2015, the company completed
the transition in conjunction with a multimillion dollar capital investment by Toyota Tsusho
America, Inc. (New York City), Advanced Technology International, an SCRA affiliate
(Summerville, South Carolina) and a European Family Office affiliated with Alpheus Capital
(Charlotte, North Carolina). Cary Street Partners (Greensboro, North Carolina) advised MIT-
RCF throughout the process.
“This investment helps us transition the company from a recycler of carbon-rich materials to a
high quality, advanced materials supplier. We are able to convert virtually any source of carbon
fiber excess into goods readily consumed in the composites industry.”
Following the formation of Carbon Conversions, the Board of Directors promoted MIT-RCF’s
President Mark Mauhar to CEO and President of Carbon Conversions. Commenting on the
recent capital investment, Mauhar said, “This investment helps us transition the company from a
recycler of carbon-rich materials to a high quality, advanced materials supplier. We are able to
convert virtually any source of carbon fiber excess into goods readily consumed in the
Carbon Conversions will continue to operate from its 100,000 square foot plant and warehouse
in Lake City, South Carolina, adding a composites R&D lab on its current site to accelerate their
product and process development activities. A plant capacity expansion of 35 percent is
scheduled to come online during the first quarter of 2016.
About Carbon Conversions Incorporated
Carbon Conversions recycles carbon fiber-reinforced materials and parts and incorporates
reclaimed carbon fiber in advanced materials. These materials are used to manufacture new,
high-performance parts for automotive, aerospace, sports equipment and electronics applications.
Carbon Conversions’ recycling and advanced material production operations take place in our
production facility at 150 Godley Morris Boulevard in Lake City, South Carolina.
Carbon Conversions, Inc.
Penny Hill, 843-374-5600