Lineat Composites Ltd, a spin out of the University of Bristol, has successfully raised significant funds through their initial seed round of investment. This brings the total investment to date in Lineat to over £1m.
Investors led by UK Innovation and Science Seed Fund (UKI2S), together with SFC Capital and the corporate venture capital arm of a large London based hedge fund investing in climate and clean energy technology, have joined forces to enable the realisation of commercially recycled technical carbon fibre tape products.
Mark White (Investment Director UKI2S) said: “Looking at Lineat opened our eyes to the scale of the recycling problem faced by the carbon composites sector and we are excited to kickstart the company on what promises to be a really interesting mission to transform the recycling picture and deliver a more sustainable solution for one of the world’s fastest growing materials.”
Ed Stevenson (SFC Capital) added: “SFC Capital were delighted to have co-led Lineat’s latest funding round. With the widespread use of carbon fibre, there should be available ways to recycle any waste that is produced during the manufacturing process. Lineat and the all-star team are perfectly placed to deploy such a solution, which will enable the commercial use of recycled carbon fibre whilst at the same time reducing the environmental impact of the sector. We are excited to see what the future holds for Lineat”.
Gary Owen (Lineat CEO) said: “This investment follows on from an initial Innovate UK ICURe grant and investment from the University’s Evergreen Fund and will assist in establishing Lineat as the Global Lead in realigned carbon fibre tape, a true building block of the composites world.”