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Bast Fibre Technologies, a natural fibre engineering company focused on the non-wovens industry, has acquired Germany's Faser Veredlung Tönisvorst, a textile processing facility.
Investegate announcements from BAST FIBRE TECHNOLOGIES, Bast Fibre Technologies acquires German textile processing facility to fulfil customer demand
“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 producti...
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 financing which also includes significant participation from existing investors. "With this financi...