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Fairmat raises $35 million to recycle carbon fiber composites.

Fairmat raises $35 million to recycle carbon fiber composites

Fairmat raises $35 million to recycle carbon fiber composites

Fairmat, a French firm, raised $35 million in Series A investment (€34 million) last month. It wishes to convert an obsolete carbon fiber composite into a new material that may be employed in new goods.
Temasek and CNP (Compagnie Nationale à Portefeuille) are heading the round, which also includes Pictet Group, Singular, The Friedkin Group International, and others. Since its establishment, the firm has raised $45.5 million (€44 million).
Fairmat comes in and picks up these elements with carbon fiber composites as these industrial projects approach the end of their life cycle. The firm then develops a new material that, while not as complex as carbon fiber composites, can be highly beneficial.
Fairmat material will not be found in wind turbines, but you may be able to purchase ordinary goods produced with this new material. Fairmat Quest is the name of this material, which might be ten times less expensive than current composites and twice as light as aluminum.
And the firm has come a long way since my initial piece on Fairmat. It has formed agreements with 15 industrial businesses, including Hexcel, Tarmac Aerosave, Siemens Gamesa, Dassault Aviation, and MerConcept, to collect carbon fiber waste. It’s a highly concentrated industry, with only 15 businesses accounting for more than 35% of European carbon fiber composite trash.
On the opposite end of the market, several manufacturers are already developing prototypes using Fairmat’s new material. While the business cannot reveal the names of its 30 contracts, Fairmat Quest will soon be used to manufacture athletic goods, audio items, and furniture.
The business intends to use today’s investment round to gradually increase the processing capacity of its automated sorting equipment. 100 robots will eventually handle up to 3,500 metric tons of scrap every year.
Fairmat also intends to expand to the United States in 2023. The firm employs 80 individuals at the moment. Fairmat intends to collaborate with 400 individuals by 2025.
Fairmat will easily find clients in the coming years since repurposed materials have a considerably smaller carbon impact than virgin materials. As carbon accounting requirements become more widely implemented, manufacturers will seek to use innovative materials like Fairmat Quest to reduce the total effect of their manufacturing.

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