Fairmat raises $35 million to recycle carbon fiber composite into a new material

A $35 million Series A funding round was closed by Fairmat. Carbon fiber can be turned into a new material that can be used in new products.

The Friedkin Group International and other companies are participating in the round. The company has raised over forty million dollars.

The idea behind Fairmat is easy to understand. Carbon fiber is a high-tech material. The materials are resistant and light. Carbon fiber can be found in aircrafts.

When the end-of-life status of the projects is reached, Fairmat picks up the elements with carbon fiber. A new kind of material that isn't as sophisticated as carbon fiber can be useful.

There is a new kind of material called Fairmat that can be used to make objects in your everyday life. The material could be 10 times less expensive than new materials and twice as light.

The company has made a lot of progress since I wrote about it. It has agreements with 15 companies to collect carbon fiber waste. More than 30% of carbon fiber waste in Europe comes from 15 companies.

Prototypes with Fairmat's new material are already being worked on by some manufacturers. You will soon be able to find sporting goods, audio products and furniture made with Fairmat Quest.

The company plans to improve the processing capacity of its automated sorting plant. Up to 3,500 metric tons of scrap will be handled by 100 robots eventually.

Fairmat plans to expand to the U.S. in the next five years. It is hoped that it will work with 400 people.

The main reason why Fairmat will be able to find customers in the future is because of the lower carbon footprint of re-used materials. When carbon accounting rules become widespread, manufacturers will look at new materials like Fairmat Quest to lower their production impact.