Growthdeck Completes Investment into Carbon Fibre Preforms
Growthdeck, the private investor network, has completed its investment into Carbon Fibre Preforms (CFP), the manufacturer of a revolutionary, ultra-lightweight and cost-efficient heat resistant material.
The company had extended its original fundraise target of £778,000, raising £1,078,000 due to demand, and the additional allocation was snapped up within days. Growthdeck is investing alongside successful venture capital lead investor Midven Limited as part of a larger round. The capital raised will be used to purchase specialist machinery that will enable increased commercial production.
There is predicted global demand for CFP’s new material from end users across the train, aeronautical and shipbuilding industries as well as oil and gas drilling sectors. CFP is in ‘significant talks’ with Mayer Werft and STX, the two largest cruise ship builders in the world, and has already become a strategic partner with the Japanese giant Toray Industries, a global leader in the production of raw carbon fibre.
Simon Emary of Growthdeck comments: ‘As soon as I visited their West Midlands production facility, I could see Carbon Fibre Preforms had the potential to become a great British engineering success story. This investment is also a first for us, co-investing with the Midven VC team, who have also bought into the potential markets for CFP’s revolutionary material.’