French start-up Fairmat has raised EUR 34 million in funds to help advance its carbon fibre recycling solutions.
Fairmat will use the investment to accelerate the deployment of its robotised industrial capabilities, including its newly inaugurated automated sorting plant. The start-up is also better positioned now to expand its recycling technology into new markets. Initial plans involve the US in 2023, with other projects to be launched in Spain and Germany soon after.
Lastly, Fairmat will expand its workforce from 80 to about 400. Company ceo Ben Saada adds that his company, based in Paris, has raised a total of EUR 44 million in funding to date.
‘Recycling advanced materials like carbon fibre composite is one of the strongest actions we can take to accelerate the decarbonisation of the manufacturing sector,’ the entrepreneur notes. ‘Today, we are thrilled to see our vision of the next generation of materials coming to life as we accelerate our production and expand our international development.’