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Natural-fibre company raises $8.5 million to expand production

“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 sa...
Noel Hall Jim Posa Mina Mishrikey Merida Capital Holdings Procter Gamble Fibre Technologies

Bast Fibre Technologies completes CAD$8.5 million series A equity financing to begin manufacturing and commercial phase of growth

Share this article Share this article 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 ...
Noel Hall Jim Posa Mina Mishrikey Merida Capital Holdings Fibre Technologies Bast Fibre Technologies

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