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25. May 2021
Canada Hemp Market Watch News

Bast Fibre Technologies Raises $7M for Hemp Fibre Innovations

Bast Fibre Technologies Raises $7M for Hemp Fibre Innovations

Bast Fibre Technology Inc. Logo

Cleantech hemp fibre engineering company, Bast Fibre Technologies has raised CAD$8.5 million (US$7 million) series A equity financing, in a round led by US-based private equity firm Merida Capital Holdings. The Company will now enter its next phase of growth focused on the full-scale manufacturing and commercialization of natural bast fibres for nonwoven products.

Bast Fibre Technologies specialises in manufacturing natural fibres for applications throughout the nonwoven industry, including fully compostable cleaning wipes, diapers and personal care products. Using IP protected, advanced fibre and fabric technology, BFT transforms raw bast fibres from hemp, flax and jute plants to meet the exacting standards required by nonwoven customers.

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