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Home / News / Free Form Fibres carries out $2.5 mn financing round

Free Form Fibres carries out $2.5 mn financing round

30
Nov '20
Pic: Free Form Fibers
Pic: Free Form Fibers
Free Form Fibres, a supplier of the world’s purest fibres and powders for next-generation composites, has carried out and concluded a $2.5 million financing round to create additional production capacity for pure fibre and powder materials, which are produced using its advanced, patented Rapid Laser-assisted Chemical Vapour Deposition (R-LCVD) process.

“This is the next step in our trajectory to bring the purest possible materials to market for advanced applications such as jet engines and nuclear power plants,” said John Schneiter, chairman of Free Form Fibres and CEO for the past 11 years. He added, “While our focus has been on silicon carbide fibre and powder for high temperature applications, our ability to change materials simply by changing the input gases to the process is critical to market flexibility.”

Shay Harrison, Free Form Fibres’ new CEO, said, “We have been developing and refining our production process with the support of local investors and numerous governmental technology development grants from agencies such as the Department of Energy, the National Science Foundation and the Defence Advanced Research Projects Agency, and this new investment is the next key step in building important production capacity in the United States for high performance fibres and powders for next-gen applications like ceramic matrix composites.”

James Besser, managing member at Manchester Management and a lead investor in the round, said “We are excited to participate in the growth of an important materials company that is showing the world what a combination of deep understanding, hard work and tenacity can achieve. This company is accelerating – in a handful of years – what some of the world’s largest technology giants have been working on for over forty years. We are pleased to participate in its scale-up.”

Fibre2Fashion News Desk (SV)

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