{"id":50727,"date":"2022-10-27T15:43:45","date_gmt":"2022-10-27T12:43:45","guid":{"rendered":"http:\/\/www.textilegence.com\/?p=50727"},"modified":"2022-10-27T15:43:48","modified_gmt":"2022-10-27T12:43:48","slug":"strategic-funding-move-from-bast-fibre-technologies-inc","status":"publish","type":"post","link":"https:\/\/www.textilegence.com\/en\/strategic-funding-move-from-bast-fibre-technologies-inc\/","title":{"rendered":"Strategic funding move from Bast Fibre Technologies Inc."},"content":{"rendered":"\n<p>Bast Fibre Technologies Inc. (BFT), a cleantech fibre engineering <a href=\"https:\/\/bastfibretech.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">firm <\/a>and the makers of sero\u2122 hemp fibre, announced that it has closed a major strategic financing with Ahlstr\u00f6m Capital, one of Finland\u2019s largest investment companies. BFT explained that they will immediately begin work to expand fibre manufacturing capacity at its US-flagship facility in Lumberton (NC) and its EU-facility near D\u00fcsseldorf (NRW). It is stated that this financing will enable BFT to produce over 10,000 metric tons of sero\u2122 hemp fibre per year by 2023 and up to 50,000 metric tons per year by 2026.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.textilegence.com\/wp-content\/uploads\/2022\/10\/bast-fibre-detail.jpg\" alt=\"\" class=\"wp-image-50723\" srcset=\"https:\/\/www.textilegence.com\/wp-content\/uploads\/2022\/10\/bast-fibre-detail.jpg 1920w, https:\/\/www.textilegence.com\/wp-content\/uploads\/2022\/10\/bast-fibre-detail-768x432.jpg 768w, https:\/\/www.textilegence.com\/wp-content\/uploads\/2022\/10\/bast-fibre-detail-1536x864.jpg 1536w, https:\/\/www.textilegence.com\/wp-content\/uploads\/2022\/10\/bast-fibre-detail-300x169.jpg 300w, https:\/\/www.textilegence.com\/wp-content\/uploads\/2022\/10\/bast-fibre-detail-600x338.jpg 600w, https:\/\/www.textilegence.com\/wp-content\/uploads\/2022\/10\/bast-fibre-detail-696x392.jpg 696w, https:\/\/www.textilegence.com\/wp-content\/uploads\/2022\/10\/bast-fibre-detail-1068x601.jpg 1068w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><figcaption>Strategic funding move from Bast Fibre Technologies Inc.  <\/figcaption><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\" id=\"h-bast-fibre-technologies-inc-further-accelerates-its-expansion-for-tree-free-plastic-free-fibres-demand\">Bast Fibre Technologies Inc. further accelerates its expansion for tree-free, plastic-free fibres demand<\/h2>\n\n\n\n<p>Bast Fibre Technologies Inc. CEO Jim Posa pointed out that nonwoven companies, converters, and leading consumer goods companies are looking for viable natural fibre options to achieve their corporate <a href=\"https:\/\/www.textilegence.com\/en\/category\/green-times\/\" target=\"_blank\" rel=\"noreferrer noopener\">sustainability <\/a>initiatives as they move away from synthetics. Posa stated: \u201cThe market for natural fibres is set for rapid growth, and this highly strategic funding will help BFT to solidify its position and further accelerate its expansion to meet the increasing demand for tree-free, plastic-free fibres.\u201d<\/p>\n\n\n\n<p>Ahlstr\u00f6m Capital President and CEO Lasse Heinonen stated that as the nonwoven industry transitions away from plastics, they believe there will be exponential growth in the natural fibres market. Heinonen noted that as a responsible investor with a strategic, long-term mindset, they seek to invest in companies focused on solutions that help drive sustainable development, saying: \u201cWith a strong and experienced management team, BFT is well positioned to become a global leader in the production of sustainable bast fibres. We see sustainable value-creating opportunities in the company.\u201d<\/p>\n\n\n\n<p>Bast Fibre Technologies Inc. Executive Board Chair Noel Hall relayed that Ahlstr\u00f6m Capital has an excellent reputation for investing in cleantech companies offering sustainable solutions and underlined that it is important for them to work with an investor that shares their values and their vision of moving away from synthetic materials in nonwoven applications. Hall added: \u201cAhlstr\u00f6m Capital has several complementary portfolio holdings in the nonwoven and sustainable fibre industries, making it both a natural fit and value-added investor for BFT. We are pleased to welcome Ahlstr\u00f6m Capital\u2019s Investment Director, Andreas Ahlstr\u00f6m, to BFT\u2019s board of directors.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bast Fibre Technologies Inc. (BFT), a cleantech fibre engineering firm and the makers of sero\u2122 hemp fibre, announced that it has closed a major strategic financing with Ahlstr\u00f6m Capital, one of Finland\u2019s largest investment companies. BFT explained that they will immediately begin work to expand fibre manufacturing capacity at its US-flagship facility in Lumberton (NC) [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":50725,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14912],"tags":[16142,14931,11143,10369],"class_list":{"0":"post-50727","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-green-times","8":"tag-bast-fibre","9":"tag-green-times","10":"tag-sustainability-en","11":"tag-textile-news-en"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Strategic funding move from Bast Fibre Technologies Inc. - Textilegence<\/title>\n<meta name=\"description\" content=\"Bast Fibre Technologies Inc. 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The platform provides news, articles, and updates on various aspects of the textile industry, including sustainability, technological advancements, and market trends.\",\"email\":\"editor@textilegence.com\",\"telephone\":\"+90 212 442 24 12\",\"legalName\":\"Textilegence Mag and Digital Platform\",\"foundingDate\":\"2013-01-01\",\"numberOfEmployees\":{\"@type\":\"QuantitativeValue\",\"minValue\":\"1\",\"maxValue\":\"10\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.textilegence.com\\\/en\\\/#\\\/schema\\\/person\\\/1c3977109f8a6e1e2b95678836d75cb7\",\"name\":\"Fatih Cengiarslan\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.textilegence.com\\\/wp-content\\\/uploads\\\/2018\\\/12\\\/fatih-cengiarslan.jpg\",\"url\":\"https:\\\/\\\/www.textilegence.com\\\/wp-content\\\/uploads\\\/2018\\\/12\\\/fatih-cengiarslan.jpg\",\"contentUrl\":\"https:\\\/\\\/www.textilegence.com\\\/wp-content\\\/uploads\\\/2018\\\/12\\\/fatih-cengiarslan.jpg\",\"caption\":\"Fatih Cengiarslan\"},\"description\":\"Fatih Cengiarslan; Akademik \u0130ngilizce e\u011fitimini Bat\u0131 Avustralya \u00dcniversitesi\u2019nde tamamlad\u0131ktan sonra T\u00fcrkiye\u2019ye d\u00f6nerek \u0130stanbul Ayd\u0131n \u00dcniversitesi\u2019nde \u0130nternet Gazetecili\u011fi ve Yay\u0131nc\u0131l\u0131k b\u00f6l\u00fcm\u00fcn\u00fc bitirip, Litvanya \u2013 Kaunas Teknoloji \u00dcniversitesi\u2019nde interaktif media \u00fczerine 8 ayl\u0131k e\u011fitim ald\u0131. 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The platform provides news, articles, and updates on various aspects of the textile industry, including sustainability, technological advancements, and market trends.","email":"editor@textilegence.com","telephone":"+90 212 442 24 12","legalName":"Textilegence Mag and Digital Platform","foundingDate":"2013-01-01","numberOfEmployees":{"@type":"QuantitativeValue","minValue":"1","maxValue":"10"}},{"@type":"Person","@id":"https:\/\/www.textilegence.com\/en\/#\/schema\/person\/1c3977109f8a6e1e2b95678836d75cb7","name":"Fatih Cengiarslan","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.textilegence.com\/wp-content\/uploads\/2018\/12\/fatih-cengiarslan.jpg","url":"https:\/\/www.textilegence.com\/wp-content\/uploads\/2018\/12\/fatih-cengiarslan.jpg","contentUrl":"https:\/\/www.textilegence.com\/wp-content\/uploads\/2018\/12\/fatih-cengiarslan.jpg","caption":"Fatih Cengiarslan"},"description":"Fatih Cengiarslan; Akademik \u0130ngilizce e\u011fitimini Bat\u0131 Avustralya \u00dcniversitesi\u2019nde tamamlad\u0131ktan sonra T\u00fcrkiye\u2019ye d\u00f6nerek \u0130stanbul Ayd\u0131n \u00dcniversitesi\u2019nde \u0130nternet Gazetecili\u011fi ve Yay\u0131nc\u0131l\u0131k b\u00f6l\u00fcm\u00fcn\u00fc bitirip, Litvanya \u2013 Kaunas Teknoloji \u00dcniversitesi\u2019nde interaktif media \u00fczerine 8 ayl\u0131k e\u011fitim ald\u0131. Daha sonra Eski\u015fehir Anadolu \u00dcniversitesi girerek \u0130\u015fletme Fak\u00fcltesini ba\u015far\u0131yla tamamlad\u0131. 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