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\n
\u201cNonwoven 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,\u201d said Jim Posa, CEO of BFT.<\/strong> \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>\u201cAs 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,\u201d comments Lasse Heinonen, President and CEO of
Ahlstr\u00f6m Capital<\/strong>.<\/p>\u201cAhlstr\u00f6m Capital has an excellent reputation for investing in cleantech companies offering sustainable solutions,\u201d said Noel Hall, BFT\u2019s Executive Board Chair<\/strong>. \u201cIt is important for us to work with an investor that shares our values and our vision of moving away from synthetic materials in nonwoven applications. Ahlstr\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><\/blockquote>\n\n\n\n
About Bast Fibre Technologies<\/strong><\/h3>\n\n\n\nBast Fibre Technologies Inc. (BFT) is a triple-bottom-line cleantech fibre engineering firm that places equal emphasis on social, environmental, and fiscal responsibility. Using advanced fibre processing technology, BFT transforms raw fibres from cotton, hemp, and flax plants to meet the exacting standards required by nonwoven customers.<\/p>\n\n\n\n
About Ahlstr\u00f6m Capital<\/h3>\n\n\n\n
Ahlstr\u00f6m Capital is one of Finland\u2019s largest investment companies with a long history of 170 years. It is a family-owned investment company that creates value for its owners by investing in industrial companies, real estate and forest. In 2021, the annual net sales of its portfolio companies was approximately EUR 4.4 billion and they employed almost 13,500 people in 33 countries. Its current portfolio includes significant holdings in the listed companies Detection Technology Plc, Glaston Corporation, and Suominen Corporation. In addition, the portfolio includes Ahlstr\u00f6m Invest B.V. (including a significant ownership in Ahlstrom-Munksj\u00f6 Holding), Munksj\u00f6 AB, M&J Recycling A\/S and GPV Group A\/S. Its portfolio also includes major real estate and forest holdings.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bast Fibre Technologies Inc. (BFT), the makers of sero\u2122 hemp fibre, announced today that it has closed a major strategic financing with Ahlstr\u00f6m Capital of Finland. BFT will immediately begin work\u00a0to expand\u00a0fibre manufacturing\u00a0capacity\u00a0at its US- flagship facility in Lumberton (NC) and its EU-facility near D\u00fcsseldorf (NRW). This financing will enable BFT to produce over 10,000 […]<\/p>\n","protected":false},"author":59,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","nova_meta_subtitle":"Investment will create the world\u2019s largest specialty hemp fibre processing and purification company","footnotes":""},"categories":[5572],"tags":[11885,11877,17034],"supplier":[21173,16755],"class_list":["post-117234","post","type-post","status-publish","format-standard","hentry","category-bio-based","tag-hemp","tag-naturalfibres","tag-nonwovens","supplier-ahlstrom-capital-group","supplier-bast-fibre-technologies-inc-bfti"],"_links":{"self":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/117234","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/comments?post=117234"}],"version-history":[{"count":0,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/117234\/revisions"}],"wp:attachment":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/media?parent=117234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/categories?post=117234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/tags?post=117234"},{"taxonomy":"supplier","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/supplier?post=117234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}