Black Bear name new CFO ahead of scale-up

Nederweert, The Netherlands – Dutch cleantech company Black Bear has appointed Geert Glimmerveen as its new chief financial officer for the next phase of its growth.

Glimmerveen has more than 30 years of experience in senior finance and executive positions and has previously worked with McKinsey & Co., truck manufacturer DAF Trucks, energy company Eneco and private equity firm Egeria.

Most recently he was the managing director for waste management and recycling company Van Gansewinkel (now Renewi) Netherlands.

The appointment, announced on 27 Nov, follows Black Bear’s successful €16-million funding round which was completed earlier in November.

The company now aims to scale up its “tire to carbon black” technology, which employs a "unique" carbonisation process to produce rCB from end-of-life tires.

Black Bear currently operates an industrial-scale prototype plant in partnership with Kargro, a European tire recycler.

The plant, located in Nederweert, The Netherlands, can process more than 1 million tires annually, and the rCB produced is already used by companies such as AkzoNobel.

Additionally, the funds raised will go towards “international growth” of the business, according to Black Bear.

“I was intrigued by the opportunities in the circular economy and in particularly by the combination of an attractive business model and the opportunity to make a positive impact for the environment,” said Glimmerveen commenting on his new position.

Black Bear, he added, delivers on both promises.

“As we scale and roll-out internationally, we need to make sure we also build a strong organisation to support this,” added Martijn Lopes Cardozo, CEO Black Bear.