Hemp fibre maker Bast Fibre Technologies Inc (BFT) has closed a major strategic financing with Ahlström Capital of Finland.
- BFT will immediately begin work to expand fibre manufacturing capacity at its US-flagship facility in Lumberton (NC) and its EU-facility near Düsseldorf (NRW).
- This financing will enable BFT to produce over 10,000 metric tonnes of the Sero hemp fibre per year by 2023 and up to 50,000 metric tonnes per year by 2026.
The Background: Using advanced fibre processing technology, Bast Fibre Tech has developed Sero, a superior natural product for replacing plastics.
- BFT transforms raw bast fibres from hemp plants for use in wipes, hygiene products and more.
- Bast fibres like hemp are a crucial part of the transition away from plastic, and BFT is poised to lead the way in enabling truly sustainable single-use products.
- BFT extracts the fibres found under the bark of bast plants. Its manufacturing process cleans, individualises, and softens each fibre while maintaining its integral structure.
- The fibre is not regenerated cellulosic fibre, and is 100% compostable.
- Bast plants like hemp are an ideal source of raw material for wipes and other single-use products.
- Each plant in the dense canopy stands around two metres tall, and the entire plant is commercially useful, from the roots up the stems to the seeds and the flowers.
- A deep root system helps prevent erosion and adds organic matter to the soil, improving soil health.
- Sero BFT’s naturally engineered hemp fibre, developed to meet the standards required for use in manufacturing fabrics to make wipes, hygiene products, and more.
What they said:
Nonwoven companies, converters, and leading consumer goods companies are looking for viable natural fibre options to achieve their corporate sustainability initiatives as they move away from synthetics. The 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.
— Jim Posa
Chief Executive Officer
Bast Fibre Technologies
As the nonwoven industry transitions away from plastics, we believe there will be exponential growth in the natural fibres market. As a responsible investor with a strategic, long-term mindset, we seek to invest in companies focused on solutions that help drive sustainable development. With 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.
— Lasse Heinonen
President and Chief Executive Officer
Ahlström Capitals
