Lineat raises £1.4m to establish a Welsh headquarters and carbon fibre recycling facility.
The equity round was led by Green Angel Ventures and the Development Bank of Wales.
Share allotment filed at Companies House
A sustainable technology company that recycles and realigns waste carbon fibre into reusable material.
Lineat has secured £1.4m in an equity financing round led jointly by Green Angel Ventures and the Development Bank of Wales. Additional participants in the syndicate include the UK Innovation & Science Seed Fund, East Innovate, SFC Capital, and various business angels.
The fresh capital will facilitate the company's relocation from Bristol to a new headquarters and production facility in Chepstow. Lineat intends to use the proceeds to scale up manufacturing capacity and further refine its proprietary carbon fibre alignment technology.
The spinout from Bristol University plans to create up to 24 jobs locally as it targets £10m in revenue by the end of the decade.
From the founder
"Current carbon fibre material formats are expensive, hard to form into shape and highly wasteful with poor recycling routes. It is more expensive than aluminium and has a much higher footprint CO2e than steel, yet more than 90% end up in landfill."
Gary Owen
Chief Executive at Lineat
Use of funds
- 01Build out infrastructure
- 02Fund research and development
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