Lineat has moved its head office and production facility from Bristol to a new 4,800 square foot unit in Chepstow, as the spinout of Bristol University targets revenue of £10 million by 2028. Up to 24 jobs are expected to be created.
Lineat will lead the development of commercial fibre alignment technologies and products to turn single-use carbon fibre into a multi-use sustainable commodity “material of the future”.
The company operates in the aerospace, automotive, motorsport, sport, renewables and electronics sectors.
Green Angel Ventures led the equity round with £550,000 alongside £350,000 from the Development Bank of Wales. Lineat also has the support of the UK Innovation & Science Seed Fund, East Innovate, SFC Capital, follow-on investors and business angels. The innovation team at Welsh government advised on the availability and suitability of new premises.
‘High strength properties’
Gary Owen, co-founder and chief executive of Lineat, said: “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.
“Our core technology is the patented Aligned Formable Fibre Technology (AFFTTM). It takes carbon fibre waste, reclaimed from end-of-life or from process, and aligns the carbon fibres into a new fibre tape. This next generation of sustainable material retains the high strength properties carbon fibre is known for, adds unique formability to simplify manufacturing, and allows multiple re-use of carbon fibre in technical components.
“The support of our investors will now enable us to further develop our technology as we prepare to capitalise on the new and rapidly expanding general composite market from our new base here in Wales.”
Welsh government cabinet secretary for economy, energy and planning, Rebecca Evans, said: “One of the central aims of this government is to grow and support Wales’ green economy, creating good quality sustainable jobs in the process.
“Lineat are an excellent example of this, joining a growing number of cutting-edge, green businesses which have chosen Wales as the best place to anchor and expand their operations over recent months. We are pleased to have played a part in helping Lineat identify their new HQ and look forward to them commencing the next chapter of their exciting growth journey here in Wales.”
Cam Ross is chief executive of Green Angel Ventures. He said: “We have been impressed with the vision and ingenuity of Lineat’s technology. It has the potential to be transformative in the treatment of carbon fibres.”
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