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ICM becomes exclusive distributor of Visionary Fiber Technologies fiber reactor – Padovanews
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ICM becomes exclusive distributor of Visionary Fiber Technologies fiber reactor
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“With this financing under our belt, we can complete the final build out of our [European] manufacturing site, continue the investment in our feedstock supply chain and enter full-scale commercialization,” said chief executive Noel Hall. Since the company’s last financing a year ago, the number of customers using its natural bast fibres on commercial production lines has significantly increased, so investing in manufacturing capacity to feed the strong market demand is critical, Hall said. The company raised $4.5 million last year that allowed it to complete trials and start production. Mina Mishrikey, senior partner with Merida Capital, said the Bast Fibre Technologies management team has an “unrivalled” level of experience in both natural fibre and nonwoven fabric markets. “The company’s product pipeline has the potential for immediate consumer adoption.”
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VICTORIA, BC, May 20, 2021 /PRNewswire/ - Bast Fibre Technologies (BFT), a cleantech natural fibre engineering company, announces the closing of a CAD$8.5 million (US$7 million) series A equity financing. The Company will now enter its next phase of growth focused on the full-scale manufacturing and commercialization of natural bast fibres for nonwoven products.
US-based private equity firm Merida Capital Holdings is a key new shareholder in this series A financing which also includes significant participation from existing investors. With this financing under our belt we can complete the final build out of our EU manufacturing site, continue the investment in our feedstock supply chain and enter full-scale commercialization, said CEO Noel Hall. Since our last financing 12 months ago, we now have a large number of customers using our natural bast fibres on commercial production lines, so it is critical that we invest in manufacturing cap
Automotive Engine Encapsulation Market to hit $8 Bn by 2027, Global Market Insights, Inc.
Some of the major automotive engine encapsulation market participants are elringklinger, Autoneum, Woco Industrietechnik, SA Automotive, Adler Pelzer, DBW Advanced Fiber Technologies, Borgers SE & Co. KGaA, Bocholt, Unitex India, and UFP Technologies.
Selbyville, Delaware, Feb. 23, 2021 (GLOBE NEWSWIRE)
Global Market Insights, Inc. has recently added a new report on the automotive engine encapsulation market which
estimates the market valuation for automotive engine encapsulation will cross US$ 8 billion by 2027. The increasing need for thermal insulation solutions for the engine bay to reduce noise, carbon emissions, and improve fuel efficiency will drive the industry growth.
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