Carbon Fibre Preforms secures £1.5m led by Midven to commercialise carbon fibre composite material
Midven led the equity investment alongside the Growthdeck private investor network.
Carbon Fibre Preforms manufactures ultra-lightweight and cost-efficient heat resistant materials for industrial applications.
Carbon Fibre Preforms has secured £1.5m in equity financing, led by Midven with participation from the Growthdeck private investor network. The company raised the capital following an oversubscribed campaign on the Growthdeck platform that surpassed its initial £778k target within three weeks.
Based in Dudley, the company will use the proceeds to commercialise its patented FR10 carbon fibre composite material. The technology has applications across international transport, shipbuilding, and energy sectors.
Simon Price, managing director at Carbon Fibre Preforms, noted that the firm has backed the development of the material since 2011. The injection of capital marks the transition from material and supply chain preparation to global market launch.
From the founder
"We knew as soon as we heard about this process that it had tremendous value with huge potential demand. And we are really excited that after a short period establishing supply of raw materials, production methods and a demand pipeline, we are ready to launch this revolutionary product onto the global market."
Simon Price
MD at Carbon Fibre Preforms
Investor perspective
"As soon as I visited their West Midlands production facility, I could see Carbon Fibre Preforms had the potential to become a great British engineering success story. This investment will also be a first for us, co-investing with the Midven VC team who have also bought into the potential markets for CFP’s revolutionary material."
Simon Emary
Growthdeck
Use of funds
- 01Accelerate go-to-market
Investors
Categories
About the company
Carbon Fibre Preforms
Carbon Fibre Preforms manufactures ultra-lightweight and cost-efficient heat resistant materials.