FibreCoat raises 20m euro to advance coated fiber technology in space and defense sectors

Written by Copernical Team Thursday, 05 December 2024 11:09

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Los Angeles CA (SPX) Dec 05, 2024

FibreCoat, a leading innovator in materials technology, has successfully raised nearly euro 20 million in a Series B funding round. The investment was co-led by NewSpace Capital and Goose Capital, with participation from Nova Saint-Gobain, 212 NexT, Otto Krahn New Business, Convergent Ventures, and TiE. Founded in Germany in 2020, FibreCoat has developed a pioneering process for coating f

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FibreCoat raises 20m euro to advance coated fiber technology in space and defense sectors
by Clarence Oxford
Los Angeles CA (SPX) Dec 05, 2024

FibreCoat, a leading innovator in materials technology, has successfully raised nearly euro 20 million in a Series B funding round. The investment was co-led by NewSpace Capital and Goose Capital, with participation from Nova Saint-Gobain, 212 NexT, Otto Krahn New Business, Convergent Ventures, and TiE.

Founded in Germany in 2020, FibreCoat has developed a pioneering process for coating fibers with metals and plastics during the spinning stage. This approach combines the unique properties of fibers with coating materials to deliver products that are lightweight, strong, conductive, and recyclable at a fraction of the cost of traditional alternatives. The company's innovative methods stem from its origins at RWTH Aachen University, where the founding team built its expertise at the Institute for Textile Technology.

FibreCoat's materials are making waves in multiple industries, particularly in space and defense, where durability and performance are critical. Spacecraft components must endure harsh conditions, including radiation, extreme temperatures, and electromagnetic interference (EMI), while remaining lightweight for efficiency and cost-effectiveness. FibreCoat's coated fibers are designed to address these demands, positioning the company to meet growing needs in these sectors.

The global space and defense markets are rapidly expanding. The World Economic Forum projects the space ecosystem will reach $1.8 trillion in value by 2035, driven by demand for space-enabled services. The EMI shielding market is expected to grow to $9.3 billion by 2030, and the defense sector is anticipated to expand from $477 billion in 2020 to nearly $600 billion by 2027, with increased investment in advanced technologies like electronic warfare systems.

Through its partnership with NewSpace Capital, FibreCoat aims to broaden its reach in the burgeoning commercial space industry. The funding will support the development of radiation-, heat-, and EMI-resistant materials while driving innovation in the sector.

Dr. Robert Brull, CEO of FibreCoat, expressed gratitude to the company's investors: "We're grateful to NewSpace Capital, Goose Capital and all our investors for backing us. We're an ambitious team who are keen to innovate, increase production and satisfy demand for basic building blocks for defense, space, automotive and other crucial sectors. Affordable, high-performance materials are vital for electric vehicles, while in defense, there is real demand for yarns for sensors, circuits, shielding and chaff material.

Space is also a critically important sector, one that touches every area of the world economy. It's growing rapidly, and both launchers and satellites increasingly need the coated fibers we develop to withstand harsh conditions and EMI. NewSpace Capital will help with their extensive network and market knowledge, so we can bring our low-cost, high-performance materials to those who need them. It's an exciting time for the company."

Bogdan Gogulan, Managing Partner at NewSpace Capital, highlighted FibreCoat's potential: "We think long and hard about every investment we make. The young, energetic and ambitious FibreCoat team impressed us. They've grown quickly as a company, have a strong R and D background, and have shown great adaptability as market needs have evolved.

"We see this investment as an opportunity to grow a differentiated player within the space sector. FibreCoat is solving a major problem in the space industry, which is the exposure of spacecraft to radiation, heat, EMI and other conditions.

"The company is also a great example of how the space and non-space supply chains are converging - a trend that has been clear to see over the last decade.

"There are significant synergies between space, defense, automotive and other terrestrial markets in which FibreCoat operates. There are a number of industrial partners that came into this round with us, highlighting the spillover from space to non-space market segments and vice versa. We're delighted that FibreCoat has chosen NewSpace Capital to co-lead this round."

Andrew Nicholson, Managing Director at Goose Capital, echoed this sentiment: "We are proud to co-lead FibreCoat's Series B round alongside NewSpace Capital. This investment builds on our support from the Series A round in 2021, reaffirming our belief in FibreCoat's exceptional founding team and their transformative approach to coated fiber technology."