FibreCoat, a German startup that has been making waves in the materials science industry, has announced that it has secured €20 million in Series B funding. This significant investment will enable the company to further develop its patented fibre coating technology and bring its super-resistant materials to the burgeoning space industry.
A Background on FibreCoat
FibreCoat was spun out from RWTH Aachen University in 2020 by a team of researchers who had been working on developing a process for coating fibres with metals and plastics during the spinning stage. This innovative approach creates lightweight, conductive, yet strong and durable fibres that can be used to create reinforced composites at a fraction of the conventional costs.
Applications Beyond Space
Before setting its sights on the space industry, FibreCoat had already secured clients in various sectors such as automotive, construction, and defence. The company’s materials have been particularly useful for radiation shielding and weight reduction applications in these industries.
However, with the increasing demand for materials that can withstand extreme temperatures, radiation, and electromagnetic interference (EMI) without adding unnecessary weight, FibreCoat is now focusing on the space sector.
The Space Industry Opportunity
According to Dr. Robert Brull, CEO of FibreCoat, "Space is a rapidly growing sector, and launchers and satellites increasingly need coated fibres to endure harsh conditions." The company believes that its technology has the potential to address critical challenges in the space industry, where materials must be able to withstand extreme temperatures, radiation, and EMI without compromising on weight.
NewSpace Capital’s Involvement
Luxembourg-based NewSpace Capital co-led the funding round, bringing vital expertise as FibreCoat looks to cash in on the expanding space ecosystem. Bogdan Gogulan, managing partner at NewSpace Capital, noted that "space and terrestrial supply chains are converging" and that FibreCoat has the potential to address critical challenges across a swathe of industries.
Funding and Future Plans
The fresh funds will be used by FibreCoat to ramp up R&D and scale production as it looks to commercialise its fibre coating technology. This significant investment is expected to propel the company further into the space industry, where it hopes to establish itself as a leading provider of super-resistant materials.
RWTH Aachen’s Spinout Success Stories
FibreCoat is not alone in its success. RWTH Aachen University has been a hotbed for spinouts, with several startups emerging in recent years. One notable example is Cylib, which is currently constructing what is set to be Europe’s largest EV battery recycling plant.
Cylib’s founders – Dr Lilian Schwich, Paul Sabarny, and Dr Gideon Schwich – launched the company after a decade of battery recycling research at RWTH Aachen. The partners claim that their method uses 30% less energy than competitors, making it an attractive solution for the growing EV market.
Another notable example is Black Semiconductor, which raised €254.4 million in June this year. The startup, founded by brothers Daniel and Sebastian Schall in 2020, is developing a new type of chip-connecting technology using graphene – often referred to as the ‘wonder material’.
Conclusion
FibreCoat’s Series B funding is a significant milestone for the company as it looks to bring its super-resistant materials to the space industry. With the growing demand for lightweight and durable materials in space applications, FibreCoat is well-positioned to capitalise on this opportunity.
As the space industry continues to grow, with projected revenues reaching $1.8 trillion by 2035, companies like FibreCoat will play a critical role in addressing the challenges of this rapidly expanding sector. With its innovative technology and significant funding, FibreCoat is poised to become a leading player in the space materials market.
About the Author
Siôn Geschwindt is a climate and energy reporter at TNW. He covers the length and breadth of Europe’s clean tech ecosystem, from nuclear fusion to e-scooters. With five years of journalism experience and a dual degree in media and environmental science from the University of Cape Town, South Africa, Siôn is always on the lookout for innovative stories that shape the future of our planet.
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