VICTORIA – Canadian textile manufacturer Bast Fibre Technologies (BFT) says it’s secured “major strategic financing” from cleantech investment company Ahlström Capital.
BFT has not disclosed the sum to which it’s being funded by the Finnish venture capital firm, but it’s indicated that it will help facilitate the expansion of its manufacturing capacity at both its sites in North Carolina and Düsseldorf.
“The market for natural fibres is set for rapid growth, and this highly strategic funding will help BFT to solidify its position and further accelerate its expansion to meet the increasing demand for tree-free, plastic-free fibres,” noted Jim Posa, BFT’s chief executive.
