FibreCoat has closed a US$3 million Series A round of financing with Goose Capital, Phoenix Venture Partners, b.value AG, NOVA by Saint-Gobain and the TiE Houston Angels. The capital raised is being used to expand the FibreCoat team to broaden sales and marketing activities and increase capacities. In the coming year, these can now be increased from the current 10 tons/month to 60 tons/month.
FibreCoat GmbH, Aachen/Germany, an innovative composite materials spin-off from the Institut für Textiltechnik (ITA) of RWTH Aachen University, offers a revolutionary coating technology for fibers in composite and shielding applications as a basic building block for tomorrow's mobility and construction industries. Developed by co-founders Robert Brüll, Alexander Lüking, and Richard Haas as part of their PhD studies at the RWTH (Germany), FibreCoat’s product lines include AluCoat, metal-coated basalt fibers used for electromagnetic shielding and conducting applications, and PolyCoat, thermoplastic-coated glass fibers used for strengthening and light weighting applications.
The coated fibers provide substantial quality advantages due to the single-filament coating and the tunability of the materials (e.g. adjustable coating thickness, homogeneity, thin core fibers). FibreCoat produces application and customer-specific bicomponent filaments for a wide range of applications resulting in disruptive advances in the composite and EMI shielding industries. It provides a significant advantage over other technologies due to its high speed and one-step technology process, with substantial-quality advantages resulting from the single-fiber coating. New partnerships, particularly in the construction, electronics and automotive industries, are to be entered into.
»Our first market-ready product, AluCoat, saves up to 90 % in CO2 emissions during production when compared to alternative materi-als, such as solid metal fibers, and aluminium foils and sheets, while also being fully recyclable.«
The Series A funding was a result of FibreCoat’s innovative technology and performance at this year’s Rice Business Plan Competition (RBPC), where the company was represented as the automatic European entry of the Silicon Valley non-profit supporting start-ups organization TiE Global (The IndUS Entrepreneurs), Santa Clara, CA/USA, after successfully winning TiE Global’s feeder competition in Europe. As the largest intercollegiate start-up competition in the world, RBPC provided the perfect combination with TiE for FibreCoat to leverage an extensive network, placing 3rd in the final competition.