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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 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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Cleantech Co. Bast Fibre Technologies Raises $7M In New Round Including Merida Capital

Bast Fibre Technologies (BFT), a cleantech natural fiber engineering company working with hemp, announced this week the closing of a CAD$8.5 million ($7 million) Series A equity financing round.
U.S.-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.
The company will now enter its next phase of growth focused on the full-scale manufacturing and commercialization of natural bast fibers for nonwoven products.
“Merida is making strategic moves within the hemp fiber space, and Bast Fibre Technologies was an easy choice as we continue to grow our investments within this industry,” said Mina Mishrikey, senior partner of Merida Capital Holdings. “The management team at Bast Fibre Technologies has an unrivaled level of experience in both the natural fiber and nonwoven fabric markets and the Company s nonwoven pipeline has the potential for immediat ....

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Bast Fibre Technologies

Bast Fibre Technologies (BFT), a cleantech natural fiber engineering company working with hemp, announced this week the closing of a CAD$8.5 million ($7 million) Series A equity financing round.
U.S.-based private equity firm Merida Capital Holdings is a key new shareholder in this Series. Read More.
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Merida Capital Holdings , Bast Fibre Technologies , மெரிடா மூலதனம் ஹோல்டிங்ஸ் , பாஸ்ட் ஃபைபர் தொழில்நுட்பங்கள் ,

Bast Fibre Technologies completes CAD$8.5 million series A equity [...] | Comunicati stampa CataniaOggi

20 maggio 2021 13:04
Fonte: Adnkronos
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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 ....

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

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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 ma ....

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