Sustainable plant-based textiles
-
Rethinking the way we make almost everything.
Creating the possibility for products that give back to the earth
The Opportunity
There is an urgent need for new ways of creating the things we use every day. The team at Bast Fibre Technologies (BFT) believe that a dramatic rethinking of the way we produce goods – and what we produce them from – can not only stop the damage we’re causing to the planet, but actually start to help it heal. BFT is using natural fibres from hemp, flax and other resource-light crops that restore the soil to create fully biodegradable items like home textiles and clothing without petroleum-based ingredients or other unsustainable materials.
The Challenge
BFT had a unique technology. They were turning heads with their unique material systems approach to fibre and fabric processing. Starting with plants like hemp that are grown regeneratively, and turning them into soft, strong and versatile fibres, they were about to disrupt the massive fibre industry involved in everything from home textiles and clothing to feminine hygiene products. But as a highly innovative technology, this start-up needed capital to hit its growth potential.
When you’re building something that is meant to transform whole industries – entirely different supply chains, processes, and design approaches – you need investment partners who can think differently. NPC was that crucial partner at a time when we needed it most.
NPC’s Solution
NPC led BFT’s $4.5M capital raise, investing over $356,000. Since then, BFT has continued to flourish. They’ve also worked with key industry players including paper giant Georgia Pacific, and acquired production facilities in the US and Germany to build manufacturing capacity up to 17,000 metric tonnes per year. BFT has also attracted significant capital from a large European fund and established multiple product development partnerships to produce things like period care products that help to eliminate tons of plastics from landfills. BFT is now on track to achieve annual revenues of more than $2OM and to become a cash flow generating company.
NPC is committed to the creation of natural products that are better for people, animals and the planet. We propel early-stage Canadian innovators with the advice, connections and capital they need to develop and de-risk their solutions quickly and efficiently.
Bast Fibre Technologies Inc.
Description:
Sector(s):
Packaging, Apparel, BiomaterialsFunding Type:
Investment FundProvince:
British ColumbiaFunding Amount:
$356,575
Year of Funding:
2020Name:
Noel Hall