Tailwater-backed Freestone to invest in Elemental Recycling

Founded in 2019, Elemental has developed a process to upcycle plastic and other organic waste material into high-quality graphite and hydrogen.

  • Tailwater invests in energy and growth infrastructure
  • Freestone focuses on companies that specialize in disruptive infrastructure, manufacturing, support services, or technologies that enable the transition to a more carbon-neutral economy
  • Based in Dallas, Tailwater has raised more than $3.7 billion in committed capital since inception

Freestone, a portfolio company of Tailwater Capital LLC, has agreed to invest in Houston-based Elemental Recycling. No financial terms were disclosed.

Founded in 2019, Elemental has developed a process to upcycle plastic and other organic waste material into high-quality graphite and hydrogen.

“The massive growth expected in the electric vehicle and energy storage industries will drive significant demand for high quality graphite, a key mineral for lithium-ion battery production that is currently produced primarily by China,” said Alan Boswell, managing director of Freestone, in a statement. “Elemental provides a low-cost source of graphite supply that is both environmentally friendly and made right here in the United States.”

Dallas-based Tailwater Capital is an energy and growth infrastructure private equity firm. Tailwater has raised more than $3.7 billion in committed capital since inception and the team has executed more than 100 transactions representing over $22 billion in value.