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HC+M Introduces Evergreen Roadworks

At Heritage Construction + Materials (HC+M), we have always understood our work is not just about constructing roads — it’s about journeys that span generations. Today, we proudly unveil the next chapter in our legacy: Evergreen Roadworks™. This marks a significant milestone as we further our mission to build safer, more enriching and sustainable environments for generations to come.

Evergreen Roadworks is a formidable new business, providing a wide-ranging suite of innovative, adaptive and sustainable paving solutions and applications designed to extend roadway life. We work to stretch our customers’ investments — building high-quality, long-lasting roadways that truly connect our communities in a better way.

Through the merger of Champaign Asphalt, Illiana Construction, Pavement Maintenance Systems and ProTack, Evergreen Roadworks begins its journey with a collective 165 years of industry leadership and operational excellence focused on raising the bar throughout the Midwest on pavement preservation and rehabilitation services.

HC+M CEO, Geoff Dillon said, “This marks a pivotal moment for the HC+M family of companies. We have provided quality products and services for decades through three key platforms: asphalt, aggregates and road construction. Now, we are proud to announce that we are establishing a fourth exciting new platform focusing on the future of sustainable road construction.”

“Evergreen is reimagining roads,” said Evergreen President Joe Lamb, “We believe in pushing the boundaries. At Evergreen Roadworks, we focus on durability and maximizing every pavement’s potential.”

Visit the Evergreen Roadworks website at www.evergreenroadworks.com to learn more.

 


About Heritage Construction + Materials

Heritage Construction + Materials (HC+M) is part of The Heritage Group, a privately held, family-owned business headquartered in Indianapolis. HC+M has core capabilities in infrastructure building. Its collection of companies provides innovative road construction and materials services across the Midwest. HC+M companies, including Milestone Contractors, Asphalt Materials, Inc., and US Aggregates, proudly employ 3,000 people at 55 locations across seven states. Learn more at www.heritagebuilds.com.

About Evergreen Roadworks

Evergreen Roadworks provides a wide-ranging suite of pavement solutions and proprietary applications. For generations, we have partnered with state and local agencies across the Midwest offering products and services that extend roadway life and increase infrastructure longevity. We work to stretch our customers’ investments, building high-quality, long-lasting roadways that truly connect our communities in a better way. Evergreen’s commitment to excellence in paving and pavement preservation goes beyond roadwork – to building relationships and crafting the foundations of our communities.

Contact

Patti Gault

pgault@heritagebuilds.com

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EQT Infrastructure Assumes Majority Position in Heritage Environmental Services

The Heritage Group and the EQT Infrastructure VI fund (“EQT Infrastructure”) today announced that they have entered into a definitive agreement under which EQT Infrastructure will assume a majority position of Heritage Environmental Service (“HES”). The Heritage Group will continue to remain a shareholder in the company.

Since 1970, Heritage Environmental Services has been at the forefront of protecting human health and the environment. What started as a small family-owned operation in Columbus, Indiana, has evolved into a fully integrated environmental services company with over 1,600 employees nationally. The company provides a full suite of tailored solutions from emergency response, waste disposal, and sustainability services to on-site support and technical solutions to thousands of customers in hundreds of industries and verticals. Under its new structure, HES will remain a stand-alone platform led by its existing management team.

JD Vargas, Partner within EQT Infrastructure’s Advisory team, said, “EQT’s investment in HES is a continuation of a strong partnership we have developed with The Heritage Group over many years. The investment further expands EQT’s thematic approach of investing in critical businesses that have a positive impact on society. We are excited to partner with the HES team as we invest to accelerate growth and ensure environmental stewardship to customers nationwide.”

Jeff Laborsky, HES CEO, said, “EQT has been a strong partner to The Heritage Group, and we are excited to expand our relationship. Importantly, the concepts of a similar culture, treatment of our employees, respect for the communities we serve and commitment to a long-term partnership with THG were key criteria in selecting EQT as our partner. Combined with EQT, our joint commitment is to continue to bring the most innovative reuse, recycle, treatment, and disposal solutions in the United States. HES is at the forefront of providing sustainable solutions to our customers, and EQT’s partnership will accelerate our growth and investment in expanding our differentiated offerings. We couldn’t ask for a better partner as we embark on this next phase of our company’s evolution.”

The transaction is subject to customary conditions and approvals. It is expected to close by 1Q 2024. Financial terms of the transaction were not disclosed.

Truist Securities was the exclusive financial advisor to The Heritage Group, and Kirkland & Ellis LLP served as legal counsel in connection with the transaction. Nomura Securities served as financial advisor, and Simpson, Thatcher & Bartlett provided legal counsel to EQT Value-Add Infrastructure.

About Heritage Environmental Services
Heritage Environmental Services is in the business of eliminating industrial waste, and we have been making a difference for our clients since our beginning in the 1970’s. As a family-owned business headquartered in Indianapolis, we take pride in solving complex problems by offering a wide array of tailored solutions, from waste disposal, on-site support, and technical solutions to
emergency response, and sustainability services.

Each one of our 1,600+ employees play an integral role in the process, and our technology continues to be on the cutting edge of this critical industry that has become more imperative than ever.

About EQT
EQT is a purpose-driven global investment organization with EUR 232 billion in total assets under management (EUR 128 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

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Cirba Solutions Announces Flagship EV Battery Facility In South Carolina

Cirba Solutions, the most trusted and comprehensive battery materials and management company for end-of-life batteries and gigafactory scrap, announced today a phase I investment of more than $300 million into a world-class lithium-ion electric vehicle (EV) battery recycling flagship facility in South Carolina. With over 30 years of experience, Cirba Solutions has paved the way for a sustainable closed-loop battery supply chain. The company is investing over $1 billion in the next five years to expand the infrastructure required to meet the growing demand for critical materials needed for EV batteries.

This will be Cirba Solutions’ eighth operational facility in North America and its fourth facility strategically located in the U.S. ‘Battery Belt’, an area where more than 15 new lithium-ion battery gigafactories or expansions have been announced between Michigan and Georgia since 2021. This flagship, industry-leading facility will bring critical battery materials to the U.S. and will focus on processing end-of-life hybrid and electric vehicle batteries, gigafactory scrap, and end-of-life consumer batteries to extract critical materials, such as nickel, cobalt, and lithium. These key metals will support the domestic lithium-ion battery supply chain and provide enough premium recycled, battery-grade materials to power over 500,000 EV batteries annually.

The over 200-acre battery materials campus will create more than 300 jobs and be located near Columbia, South Carolina in Richland County. Groundbreaking will take place this year, with operations expected to begin in late 2024.

“The State of South Carolina and Richland County have been tremendous partners in supporting Cirba Solutions’ strategy to build a sustainable battery materials supply chain,” said David Klanecky, President and CEO of Cirba Solutions. “We are proud to bring this battery materials mega-site to Richland County, which will create generational jobs in the state and support an amazing community. Additionally, it shows our commitment to provide sustainably sourced and domestic battery-grade raw materials for cathode production in North America.”

The State has been a magnet for economic development centered on sustainability and high-tech manufacturing that will bring jobs with an environmental focus to the area.

“South Carolina has worked hard to create a business environment where the electric vehicle industry can thrive, and with announcements like this it is most certainly paying off. We are proud to have Cirba Solutions as a partner as we continue to grow our already booming electric vehicle industry,” said South Carolina Governor Henry McMaster.

Beyond creating jobs, Cirba Solutions is focused on partnering and giving back to the communities in which it operates through outreach and career paths. For example, its new facility will also be used as an educational and professional training center. The company will bring critical knowledge and decades of experience to the community by highlighting processing technology for end-of-life batteries. This facility will have a keen focus on clean energy, ensuring thoughtful operational practices are used in processing these materials and converting them back into reusable battery materials.

“We are thrilled to be expanding our footprint and partnering with the state of South Carolina. This flagship battery materials site is crucial to the success of North America’s battery supply chain and is strategically located to support our partners,” said Luke Kissam, Chairman of Cirba Solutions Board.

The South Carolina campus is in addition to Cirba Solutions’ expanded Lancaster, Ohio and Trail, British Columbia facilities that have been processing batteries for decades. The company’s expanding footprint is bringing hundreds of new jobs to local communities, expanding the battery and sustainability sectors, and providing critical materials for electric vehicle manufacturing.

https://www.youtube.com/watch?v=UWs6YO13dAc
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HG Ventures Invests in Solar Panel Recycling Leader

SOLARCYCLE, a tech-driven recycling company focused on producing sustainable materials at scale for the solar industry, today announced that it has raised $30M in Series A funding, bringing the company’s total funding to $37M since its inception a year ago.

The funds, consisting of both company equity and infrastructure financing, will be used to scale the company’s growth in solar panel recycling capacity and expand materials remanufacturing capabilities. The round is led by Fifth Wall, the largest asset manager focused on improving, future-proofing and decarbonizing the built world, and HG Ventures, the corporate venture arm of The Heritage Group. The round also included participation from Prologis Ventures, as well as existing investors Urban Innovation Fund and Closed Loop Partners. The announcement follows the initial $6.6M seed round the company raised in May 2022.

Experts in panel manufacturing, advanced recycling, and climate technology founded SOLARCYCLE in 2022 to create a more sustainable, domestic supply chain for the solar industry. Solar adoption is expected to accelerate over this decade, increasing from 150 GWp installed in 2021 to 650GWp installed per year in 2030. In order to meet the increasing demand for new solar panel production, SOLARCYCLE has developed proprietary technology that can cost-effectively return more than 95% of all the valuable materials, like aluminum, glass, copper, silver, and silicon, back into the solar value chain to help create a sustainable and scalable solar industry.

The infrastructure financing, led by Fifth Wall Infrastructure and Special Situations Partner Alok Sindher, provides asset-level equity capital for SOLARCYCLE’s first-of-a-kind Odessa, Texas factory. Fifth Wall’s complementary venture and infrastructure investments address a critical gap in investment for hardware-intensive businesses.

“Fifth Wall looked far and wide, and we believe SOLARCYCLE is the only company within North America aiming to do true, end-to-end solar panel recycling. Their deep solar industry partnerships and ability to extract valuable materials at reasonable cost, with efficient logistics, is what differentiates the company’s position,” said Peter Gajdoš, Partner and Co-Head of The Climate Tech Investment Team at Fifth Wall. “The rapid adoption of customers speaks to the quality of the solution and the growing market demand as solar panel portfolio ages. We are confident in management’s ability to help lead the solar industry into the next chapter and make solar energy even more sustainable.”

“I spent nearly twenty years in the solar industry, helping grow two large solar companies from scratch. When I co-founded SOLARCYCLE in 2022, I knew the moment was right to build an industry-backed advanced technology solution to recycling solar panels that ensures that valuable materials go back into the domestic supply chain,” said Suvi Sharma, CEO and Co-Founder of SOLARCYCLE. “This Series A funding will allow us to further advance our patented technology, grow partnerships with industry leaders, and rapidly build recycling infrastructure in the United States and beyond to mine old solar panels for making new solar panels.”

Recent research projects that recyclable materials from solar panels will be worth more than $2.7 billion by 2030, up from $170 million this year. SOLARCYCLE works with residential, commercial and industrial (C&I), and utility companies to recycle solar panels at scale. The company is on track to install capacity to recycle one million solar panels per year by the end of 2023, and plans to open a vertically integrated, advanced recycling factory capable of processing millions of panels annually in 2024.

“SOLARCYCLE provides customers with the first scalable model for solar panel recycling, which aligns perfectly with HG Ventures’ mission to partner with innovative, high-growth companies that support a sustainable future. We are delighted to support SOLARCYCLE’s world class team developing a business model that is both an economic opportunity and an environmental necessity,” said Kip Frey, Managing Director of HG Ventures.

“As the #2 generator of onsite solar in the U.S., we see a strong and urgent need for an advanced circular solar supply chain solution, which SOLARCYCLE delivers,” said Will O’Donnell, Managing Director of Prologis Ventures. “We like that they are making solar energy even more sustainable, given their ability to extract 95% of the material from a panel and return them to the supply chain to make new solar panels.”

The funding announcement follows a founding year in which SOLARCYCLE opened their first, advanced-technology solar recycling facility in Odessa, Texas, inked customer partnerships with major US solar companies, including Sunrun, Silicon RanchDEPCOM PowerSOLV EnergyNovaSourceGreentech Renewables, and Forum Energy Partners, and assembled a world-class management team with experience scaling companies such as Amazon, SunPower, and Nextracker.

About SOLARCYCLE

SOLARCYCLE is a technology-driven platform designed to maximize solar sustainability by offering solar asset owners a low-cost, eco-friendly, comprehensive process for recycling retiring solar panels and technologies and repurposing them for new uses. The company’s proprietary technology allows it to extract 95% of a solar panel’s valuable metals, such as silver, silicon, copper and aluminum, and to recycle or repurpose panels currently in use. Experts in solar technology, recycling and sustainability founded SOLARCYCLE in 2022 to accelerate the circular economy for solar and renewables. www.SOLARCYCLE.us

About Fifth Wall 

Founded in 2016, Fifth Wall, a Certified B Corp, is the largest asset manager focused on improving, future-proofing and decarbonizing the built world. Since 2016, Fifth Wall has raised the third-most capital of any venture firm globally ($2.9B), according to SEC Form D filings. With approximately $3.2B in commitments and capital under management, Fifth Wall is backed by a global mix of more than 110 strategic limited partners (LPs) from more than 15 countries, including BNP Paribas Real Estate, British Land, CBRE, Cushman & Wakefield, Hilton, Hines, Host Hotels & Resorts, Kimco Realty Corporation, Lennar, Lowe’s Home Improvement, Marriott International, MetLife Investment Management, MGM Resorts, Related Companies, Starwood Capital, Toll Brothers, and others. This consortium represents one of the largest groups of potential partners in the global built world ecosystem, resulting in transformational investments and collaboration with portfolio companies to cut emissions, improve efficiency, and maximize returns. Founded in Los Angeles and headquartered in New York, Fifth Wall’s other offices include San Francisco, London and Singapore. For more information about Fifth Wall, its LPs, and portfolio, visit www.fifthwall.com.

About HG Ventures

HG Ventures is the corporate venture arm of The Heritage Group, headquartered in Indianapolis, Ind. HG Ventures supports innovation and growth across The Heritage Group by investing and partnering with innovative, high-growth companies to support a sustainable future. We leverage the world-class expertise of The Heritage Group operating companies and research center to offer a unique value proposition to our portfolio company partners. www.hgventures.com.

Contactmedia@solarcycle.us

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Link to press release: https://www.solarcycle.us/press-releases/solarcycle-raises-30m-equity-financing-to-scale-advanced-recycling-for-the-solar-industryhttps://p2science.com/press-release/p2-science-raises-funding-round-led-by-lewis-clark-agrifood/

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Purdue University’s Ukrainian Scholars Initiative Receives Heritage Group Gift

Gift will extend 9 scholars’ stay in the US through May 2024

WEST LAFAYETTE, Ind. — A Purdue University program launched in March to provide Ukrainian scholars an opportunity to continue their academic pursuits here during the ongoing Russian invasion of their home country has received a grant from The Heritage Group to extend the initiative into May 2024.

The Indianapolis-based Heritage Group is donating $270,000 to support all nine participants in Purdue’s Ukrainian Scholars Initiative for another academic year. This extends funding through the Spring 2024 semester, officials with Purdue and Heritage Group announced Wednesday (Feb. 22). In addition to renewing the program, Purdue officials plan to expand it for a new class of Ukrainian scholars whose academic endeavors remain stalled by Russia’s invasion.

“When President (Mitch) Daniels launched the Ukrainian Scholars Initiative in March 2022, Purdue continued our distinct tradition of welcoming those scholars and students seeking refuge from tyranny and a home for liberty,” said Purdue President Mung Chiang. “We hope the Ukrainian scholars in our community can return to safety and freedom in Ukraine one day soon. In the meantime, through Heritage Group’s resounding support and our firm commitment, we will renew and expand this initiative on a campus for the free minds.”

Purdue established the Ukrainian Scholars Initiative in what was among the first and is now the largest and most ambitious university-led program in the country. The goal: to assist these faculty members and scholars whose academic pursuits have been derailed by the conflict, which marks its one-year anniversary on Friday (Feb. 24).

Of more than 100 applications, Purdue was able to accept approximately 20 individuals. Nine scholars eventually enrolled in the program to resume their research and studies, said Mike Brzezinski, Purdue vice president for global partnerships and programs. Since its March 2022 launch, Brzezinski has led Purdue’s Ukrainian Scholars Initiative along with associate provost Peter Hollenbeck; Amanda Thompson, director of International Scholar Services in Purdue’s International Students and Scholars program; and ISS counselors Chad Broeker and Austin Smith.

The first Ukrainian scholar arrived in May and the ninth was on campus by November, all with the expectation they would be here for at least 12 months.

“For 90 years, the Heritage Group has been committed to building a safer, more enriching and sustainable world by harnessing the power of family,” said Sara Morris, director of strategic initiatives for Heritage Group. “When we saw the war and heartbreak in Ukraine and then learned of Purdue’s efforts to support Ukrainian scholars, we knew immediately we wanted to help. We are fortunate to be able to support this initiative to enrich the lives of the individual Ukrainian scholars, their families, all who come into contact with them at Purdue, and our own team members.”

The Heritage Group expressed an interest in the Purdue program during its very early stages last spring and has been engaged ever since, Brzezinski said. Greg Kapp, vice president for development at Purdue for Life, and Diane Klassen, chief development officer of university initiatives for Purdue Research Foundation, were instrumental in collaborating with Brzezinski to secure the donation from The Heritage Group.

“After the arrival of all of our nine scholars, The Heritage Group was eager to learn more about each individual and to know how they could help,” Brzezinski said. “We’re so very pleased and grateful that they are contributing the majority of funding needed to sponsor each scholar for one year. Individuals from Heritage also are eager to meet our Ukrainian faculty and students, a sign that they are truly interested in their well-being.”

Additionally, the various unit hosts of the scholars within Purdue and the Greater Lafayette community have decided to continue their financial and humanitarian support of the program through May 2024, Brzezinski said. Indeed, as the world marks the one-year anniversary of Russia’s invasion of Ukraine, the strong Purdue-Greater Lafayette community connection has been essential to the success of the program, Brzezinski said.

William and Liesl Shen, Purdue alumni who own Crestview Apartments in West Lafayette, originally set aside 19 units since the spring to be used by the scholars; six scholars live there now. And over 20 families from Faith Church in Lafayette have given their time and resources to furnish the scholars’ apartments.

Through the Purdue program, the Ukrainian visiting scholars are engaging in their own research or supporting research conducted by Purdue faculty members. Additionally, several are enrolled in doctoral programs and at the dissertation research stage of their degree programs. Their impressive scholarship stretches across a diversity of disciplines — from chemistry, library sciences, psychology, linguistics, communication, sociology and neuroscience to political science, management, history, and earth and planetary sciences.

About Purdue University

Purdue University is a top public research institution developing practical solutions to today’s toughest challenges. Ranked in each of the last five years as one of the 10 Most Innovative universities in the United States by U.S. News & World Report, Purdue delivers world-changing research and out-of-this-world discovery. Committed to hands-on and online, real-world learning, Purdue offers a transformative education to all. Committed to affordability and accessibility, Purdue has frozen tuition and most fees at 2012-13 levels, enabling more students than ever to graduate debt-free. See how Purdue never stops in the persistent pursuit of the next giant leap at https://purdue.edu/.

Writer: Phillip Fiorini, pfiorini@purdue.edu

Sources: Mike Brzezinski, mbrzezinski@purdue.edu

Sara Morris, saram@thgrp.com

Related story: Ukrainian Grit & Hope: A Traveling Photo Exhibition at Purdue

https://news.cla.purdue.edu/2023/02/10/ukrainian-grit-hope-a-traveling-photo-exhibition-at-purdue/

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Taylor Brown Named Finalist In Indy’s Best And Brightest

Taylor Brown, Director of Talent for Heritage Construction + Materials, was named a finalist for the Junior Achievement of Central Indiana’s 19th annual Indy’s Best and Brightest event presented by KPMG LLP. The event honors 100 outstanding young professionals across ten industries in central Indiana.

An awards program and reception to recognize finalists will take place on Thursday, March 23, 2023, at the Hilbert Circle Theatre in downtown Indianapolis. All 100 finalists will receive an award, and the winners in each category will be announced.

“KPMG is proud to serve as the presenting sponsor for this noteworthy event for the 19th consecutive year. We understand the importance of honoring these young professionals, who also serve as outstanding role models and mentors for the youth of our community,” said Eric Sutphin, KPMG Indianapolis Managing Partner.

Jennifer Burk, Junior Achievement of Central Indiana’s CEO, stated, “These innovative, passionate leaders are changing central Indiana for the better and serve as inspiration for the thousands of young people participating in Junior Achievement.”

The Best and Brightest event was created by Junior Achievement to recognize up-and-coming talent and the next generation of leaders in our community. Finalists in each category are judged on professional accomplishments, civic contributions, character and leadership qualities.

Learn more at www.indysbestandbrightest.org.

See what Inside Indianapolis Business is saying about finalists at https://insideindianabusiness.com/articles/finalists-named-for-indys-best-and-brightest.


About Heritage Construction + Materials

Heritage Construction + Materials (HC+M) is part of The Heritage Group, a privately held, family-owned business headquartered in Indianapolis. HC+M has core capabilities in infrastructure building. Its collection of companies provides innovative road construction and materials services across the Midwest. HC+M companies, including Milestone Contractors, Asphalt Materials, Inc., and US Aggregates, proudly employ 3,000 people at 55 locations across seven states. Learn more at www.heritagebuilds.com.

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Net Zero Asphalt Pavement Initiative Draws Support from Indiana-Based HC+M

Heritage Construction + Materials (HC+M) joined The Road Forward, an industry-wide initiative of the National Asphalt Pavement Association (NAPA) to achieve net zero carbon emission asphalt pavements.

Through HC+M’s decades of research into pavement preservation technologies, HC+M has proven itself as an industry leader in sustainability efforts. “HC+M is committed to sustainability because it’s the right thing to do and because it’s smart business,” said HC+M CEO Geoff Dillon. “The Road Forward is an important commitment for us and our industry. It shows that we aren’t afraid to roll up our sleeves and work to build a better tomorrow for future generations.”

HC+M is a part of The Heritage Group, a 90-year-old family of companies employing more than 5,000 people, serving 170 locations, and innovating through science and research. HC+M is comprised of US Aggregates, Milestone Contractors and Asphalt Materials, Inc.

HC+M companies have a long history of involvement with NAPA. Asphalt Materials joined NAPA in 1961. Milestone, a member since 1967, has earned more than three dozen Quality in Construction Awards and one Sheldon G. Hayes Award, signifying the company’s commitment to quality asphalt pavements.

Similarly, HC+M leaders consistently devote their time and expertise to NAPA and the industry. Heritage Research Group (HRG) Associate Director of Research Gerry Huber has served on numerous NAPA committees and task forces for nearly three decades, including the Sustainability Committee and the
Climate Stewardship Task Force. Gerry and HRG Senior Pavement Materials Research Engineer Katie DeCarlo worked on developing The Road Forward. CJ Potts, COO of HC+M Construction, serves as the Indiana contractor representative on the North Central Advisory Council. Milestone Contractors Asphalt Operations Manager Patrick Fox is a member of NAPA’s Board of Directors. Kevin Kelly, former NAPA chair and lifetime member, and many other HC+M employees are active members of NAPA committees.

“Heritage Construction + Materials, through its family of companies, has displayed a commitment to the asphalt pavement industry over many decades,” said NAPA President and CEO Audrey Copeland, PhD, PE. “HC+M’s support of The Road Forward further propels our collective vision for the future: sustainable communities and commerce, connected by net zero carbon asphalt pavements.”

To learn more about The Road Forward and see all sponsors, visit AsphaltPavement.org/Forward.

About The Road Forward

An initiative of the National Asphalt Pavement Association, The Road Forward: A Vision for Net Zero Carbon Emissions for the Asphalt Pavement Industry calls on the U.S. asphalt community to advance technologies, products, and processes to achieve net zero carbon emissions by 2050. Launched in January 2022, the multi-year effort will engage, educate, and empower the U.S. asphalt community to produce and construct net zero carbon emission asphalt pavements.

About Heritage Construction + Materials

Heritage Construction + Materials (HC+M) is part of The Heritage Group, a privately held, family-owned business headquartered in Indianapolis that began operations in 1930. HC+M has core capabilities in infrastructure building. Its collection of companies provides innovative road construction and materials services across the Midwest. HC+M companies, including Milestone Contractors, Asphalt Materials, Inc., and US Aggregates, proudly employ 3,000 people at 55 locations across seven states. Learn more at heritagebuilds.com.

About NAPA

The National Asphalt Pavement Association is the only trade association that exclusively represents the interests of the asphalt pavement material producer/contractor on the national level with Congress, government agencies, and other national trade and business organizations. NAPA supports an active research program designed to improve the quality of asphalt pavements and paving techniques used in the construction of roads, streets, highways, parking lots, airports, and environmental and recreational facilities. The association provides technical, educational, and marketing materials and information to its members; supplies product information to users and specifiers of paving materials; and conducts training courses. The association, which counts 1,100 companies as its members, was founded in 1955. Learn more at asphaltpavement.org.

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Heritage Group Finds Success With Venture Fund

When Indianapolis-based The Heritage Group launched its New Ventures Group in 2018, it did so in the belief that it could leverage its expertise in materials science to boost entrepreneurship, generating benefits both inside and outside the company.

The strategy seems to be working even better than expected for the privately held, family-owned company that has an ownership stake in more than 30 operating companies, including Calumet Specialty Products Partners LP, Heritage Environmental Services, Monument Chemical and others.

To date, the company’s venture arm, HG Ventures, has invested nearly $200 million in a total of 30 companies, eight of which had been participants in The Heritage Group Accelerator.

And in 2021, HG Ventures became the first non-Europe-based investor chosen to partner with Innovate UK, a research and innovation funding initiative associated with the government of the United Kingdom.

“I would say the thing that surprised me the most was how strong the market for materials science venture investing turned out to be, and how well-positioned we have been to establish a brand in that area,” said HG Ventures Managing Director Kip Frey. The Heritage Group recruited Frey from North Carolina to launch HG Ventures four years ago.

The venture group has a threefold strategy:

  • Invest in U.S. and international companies that focus on materials science (studying the substances things are made of and designing more advanced substances/materials).
  • Launch an annual startup accelerator.
  • Incubate employee ideas that show commercial promise.

The venture group’s investments focus on areas such as energy, sustainable materials, water, infrastructure and the circular economy—the concept of reusing and recycling materials rather than disposing of them.

HG Ventures’ investment portfolio includes companies like Zionsville-based 120Water, which offers water-sampling kits, software and services for water system management and compliance. It also includes Israel-based Valerann, which offers a traffic-management platform for road operators and traffic authorities.

The accelerator, whose fourth cohort of startups wrapped up last week, has brought a total of 37 startups to Indianapolis since 2018 for a 13-week, in-person accelerator at The Heritage Group’s headquarters just east of Eagle Creek Park. The startups come from around the world; to date, five have chosen to move their headquarters here.

The Heritage Group also decided this year to run its accelerator on its own, after a three-year contract with accelerator operator Techstars came to an end.

The third part of The Heritage Group’s strategy, its in-house incubation process, has already resulted in one new company. That startup, Avenew Inc., is a road-management company that launched in February and is now part of The Heritage Group’s portfolio.

‘Amazing resources’

For The Heritage Group, part of its secret sauce is the expertise and resources it can offer the companies it invests in.

HG Ventures and The Heritage Group Accelerator both operate out of The Center, a 113,000-square-foot building that also serves as The Heritage Group’s corporate headquarters. The facility, in InTech Park, also is home to The Heritage Group’s in-house research and development laboratory, which helps its operating companies develop and test their products.

And The Heritage Group’s 6,000-person workforce includes chemists, engineers, scientists and others with specialized industry knowledge.

“We have 6,000 people. We’ve got amazing resources that we can bring to bear for entrepreneurs that show that it’s not lip service, adding value. It’s truly tangible value that we can bring to these companies,” said Ginger Rothrock, senior director of HG Ventures.

These types of resources can help HG Ventures in multiple ways, said fellow venture investor David Kerr, managing director of Indianapolis-based Allos Ventures.

Allos and HG Ventures are co-investors in 120Water Inc., which is also a graduate of The Heritage Group Accelerator.

A venture firm that invests in the realm of materials science, clean technologies or hard tech—technology that includes both hardware and software—needs the know-how to find and evaluate potential investments.

One way to find this know-how is to work with consultants, universities or industry partners, Kerr said—but The Heritage Group has this expertise in-house. “That’s where I do think it really does give Heritage Group an advantage, having ready access to those types of people.”

‘A complete mind shift’

These are the types of resources that caught the eye of suburban Seattle-based entrepreneur Jason Puracal, co-founder and CEO of ZILA Works. The company was one of seven startups from the United States and Canada who came to Indianapolis for this year’s accelerator.

ZILA, which launched in 2014, has developed a process for using industrial hemp to create bio-epoxy resin for use in products from sporting equipment to floor sealants. The company hasn’t yet started generating revenue but has secured its first paid pilot test, which will take place this winter with Vermont-based Burton Snowboards, Puracal said.

He’d been through three previous accelerators in the U.S. and Canada before coming to Indianapolis for The Heritage Group Accelerator, he said, and this one is different.

“This is the first accelerator program that has had specific expertise that is relevant to our industry,” he said. “It’s been great to have the resources and the muscle of Heritage at our disposal.”

Most of ZILA’s partners before had been universities, Puracal said, so working with an industry-based accelerator has given him a whole new perspective.

“Academia runs at a certain pace, and Heritage has helped us shift our mental framework about, ‘Oh, really we can go much faster in this other setting,’” he said. “It’s been a complete mind shift for us, and we’re trying to scale up as quick as possible now.”

One area ZILA had struggled with, Puracal said, was finding a manufacturer willing to make the company’s product. He said his company had reached out to 40 companies, all of whom said ZILA was too small for them to do business with. But through the accelerator, Puracal is now in conversation with The Heritage Group’s Monument Chemical as a potential manufacturer. “Monument has a different approach because of the accelerator program.”

During their 13 weeks in Indianapolis, Puracal said, he and his fellow founders were also introduced to representatives from Purdue University, the Indiana Economic Development Corp. and other startup accelerators, as well as Indiana-based venture investors. The accelerator participants also traveled to events in Pittsburgh; Columbus, Ohio; and Louisville.

Being in person for the 13-week program has also allowed Puracal to meet other founders who have become both friends and sources of professional support.

Becoming known

The Heritage Group “seriously considered” 75 applicants for this year’s accelerator cohort, Frey said. Many more companies submitted applications, but the 75 represented the strongest.

New Ventures Group is also gaining traction on its venture investment side.

The Heritage Group’s CEO, Amy Schumacher, said HG Ventures has seen an increase in both volume and quality of investment opportunities that cross its threshold over the group’s four years in existence.

Schumacher is a great-granddaughter of John E. Fehsenfeld, who launched the company in 1930 under the name Crystal Flash. She, along with board Chair Fred Fehsenfeld Jr., had the vision for what became New Ventures Group.

“What has surprised me is how quickly HG Ventures has established themselves as a leader in this space,” Schumacher said.

Some of the investment opportunities are pitched by entrepreneurs, she said. Others come from fellow venture firms looking for co-investors for particular deals.

“They see the value we can bring to an opportunity,” Schumacher said.

The third part of New Venture Group’s strategy is to incubate business ideas that come from within.

As part of this effort, Schumacher said, The Heritage Group launched a year-long Concept to Commerce course, which focuses on how to commercialize an idea. Employees must be nominated to participate, and a second cohort is set to begin early next year.

“It was an overwhelming success,” Schumacher said.

New Ventures Group has already successfully taken one idea from concept to commercialization with Avenew, which quietly launched in February.

The company, which helps local governments manage their road and bridge infrastructure, was born out of an idea from Heritage Group employee Micah Vincent. Vincent, who was director of Indiana’s Office of Management and Budget before joining The Heritage Group, now serves as Avenew’s chief operating officer.

The startup’s CEO is Joe McGuinness, who formerly served as commissioner of the Indiana Department of Transportation. Before that role, McGuinness served as mayor of Franklin.

McGuinness said leading a startup is altogether different from being a government executive. The Heritage Group has helped him with tasks as big as business strategy and as small as creating and ordering business cards.

“They have provided a lot of support,” he said. “They allow you to sleep at night and not be looking around every corner.”

It took about 18 months to develop Avenew’s initial concept into a business, Rothrock said. Other ideas are now making their way through the incubation process, with anticipated business launches in one to three years, though Rothrock declined to reveal details.

This article was first published in the Indianapolis Business Journal

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Cirba Solutions Awarded $75M in DOE Grant Funding

The Biden-Harris Administration awards federal funds to Cirba Solutions, North America’s most experienced battery recycling company, to expand the domestic supply of critical EV materials via its Ohio facility

 

Charlotte, NC (October 19, 2022) – Cirba Solutions, the largest and most comprehensive cross-chemistry battery management and materials processor in the industry, is a recipient of the first set of projects funded by President Biden’s Bipartisan Infrastructure Law to expand domestic manufacturing of batteries for electric vehicles and the electrical grid, with a focus on domestic processing of materials and components currently imported from other countries. Responsible and sustainable domestic sourcing and processing of the critical materials used to make lithium-ion batteries will strengthen American supply chains, accelerate battery production to meet increased demand, and secure the nation’s economic competitiveness, energy independence, and national security.

The funding announced today by the Department of Energy is the first phase of over $7 billion in total funding provided by the President’s Bipartisan Infrastructure Law for the battery supply chain. DOE’s Office of Manufacturing and Energy Supply Chains (MESC) is responsible for strengthening and securing manufacturing and energy supply chains needed to modernize the nation’s energy infrastructure and support a clean and equitable energy transition. MESC will manage the portfolio of projects with support from DOE’s Office of Energy Efficiency and Renewable Energy’s Vehicle Technologies Office.

Cirba Solutions will receive approximately $75 million in federal funds to expand critical mineral upgrading assets at its lithium-ion processing facility in Lancaster, Ohio. At full operation, the estimated 150,000-square-foot facility will produce enough battery-grade critical minerals used in cathode production to power more than 200,000 new electric vehicles (EVs) annually. It will also create an additional estimated 150 jobs to the greater Lancaster area. The Lancaster facility will become one of the largest commercial-scale battery recycling facilities in North America.

Prior to this federal funding award, Cirba Solutions announced its commitment to invest more than $200 million to expand the Lancaster, OH facility.

The facility will collect, disassemble, shred, and upgrade the critical minerals from lithium-ion batteries to be reused to produce new lithium-ion batteries.

“This is truly a remarkable time for manufacturing in America, as President Biden’s Agenda and historic investments supercharge the private sector to ensure our clean energy future is American-made,” said U.S. Secretary of Energy Jennifer M. Granholm. “Producing advanced batteries and components here at home will accelerate the transition away from fossil fuels to meet the strong demand for electric vehicles, creating more good-paying jobs across the country.”

“The funds from the Bipartisan Infrastructure Law will help strengthen the United States domestic lithium-ion battery supply chain for the EV market and create a sustainable supply of the critical minerals used to make batteries,” said David Klanecky, President and CEO of Cirba Solutions. “The time and cost to mine and process new materials is significant, and the need for these battery materials is becoming increasingly urgent. Battery recycling is a viable solution to help meet the rising demand for EV batteries.”

In September 2022, Cirba Solutions announced plans to construct a 75,000-square-foot facility in Eloy, Arizona to recycle lithium-ion batteries. The Eloy facility is expected to process enough battery material to power 50,000 EVs annually. The company aims to increase its lithium-ion battery processing capacity by approximately 600% over the next few years and open several new processing facilities throughout North America. Currently, the company has six active facilities processing all battery chemistries.

“The electrification of our transportation system is significantly growing year-over-year. Increasing our capacity to recycle lithium-ion batteries will advance the country’s goal of building a robust EV lithium-ion battery supply chain to help realize America’s electric future,” said Klanecky.

Links:

Biden-Harris Administration Awards $2.8 Billion to Supercharge U.S. Manufacturing of Batteries for Electric Vehicles and Electric Grid

Bipartisan Infrastructure Law: Battery Materials Processing and Battery Manufacturing Recycling Selections

Factsheets on Selectees

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Heritage Environmental Technologies Partnership Explores Dynamic Wireless Charging of Electric Vehicles

October 18, 2022

 

 

Magment GmbH and Heritage Environmental Technologies LLC have entered into a joint development agreement to explore new technology for dynamic wireless charging of electric vehicles. Dynamic charging is the future solution for charging electric vehicles where devices installed in highway pavements will deliver electrical energy to battery electric vehicles on the road using a magnetic field. An antenna mounted to the vehicle bottom passes through the magnetic field generating an electrical current that charges the batteries.

Magment and HET have joined to develop a magnetizable asphalt mixture that can be used for the dynamic transmission of wireless power. Magment and HET believe that magnetizable asphalt will allow efficient and cost-effective construction of electric roads that will supply energy to vehicles of the future. Magment and HET are also cooperating to implement wireless charging technology in China.

Magment and HET believe the need for dynamic, wireless charging will increase as battery electric vehicles are adopted to support the United States’ goal of reducing greenhouse gas emissions. The first step to supporting electric vehicle adoption is the recent National Electric Vehicle Infrastructure (NEVI) program created by passage of the 2021 Bipartisan Infrastructure Law.  The program will install charging stations along the nation’s designated Alternative Fuel Corridors. The NEVI program is complemented by the ASPIRE initiative (Advancing Sustainability through Powered Infrastructure for Roadway Electrification) funded by the National Science Foundation, with the aim of electrifying transportation. As adoption of battery electric vehicles progresses the need for vehicles to charge as they drive will increase. Wireless charging technology will fulfill the need. Magment and HET are proud to support the transition from carbon-based transportation fuels to electricity.

About Magment and Heritage Environmental Technologies

Founded in 2015, Magment is a Germany-based company with operations in the United States that has pioneered magnetizable materials for wireless electric charging. Magment has developed magnetic-based devices for a range of power levels ranging from low power micro-mobility devices such as scooters to high power devices for trucks and buses.

Heritage Environmental Technologies is a subsidiary company of The Heritage Group, founded in 1930. HET is focused on technical solutions that improve the environment. The Heritage Group is an Indianapolis-based company with expertise in road construction materials.