MIT-RCF Announces Corporate Name Change to Carbon Conversions, Inc.

August 28, 2015 | By Business Wire News

LAKE CITY, S.C.

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.

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 composites industry.”

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.