# Bast Fibre Technologies secures strategic investment to expand hemp fiber capacity

Bast Fibre Technologies closed a strategic financing with Ahlström Capital to expand fiber manufacturing capacity at its facilities in Lumberton, North Carolina and near Düsseldorf, Germany. The investment will enable production of over 10,000 metric tons of Sero hemp fiber per year by 2023 and up to 50,000 metric tons annually by 2026.

- Type: Investment
- Announced: 2019-09-03
- Where: Lumberton, North Carolina, USA and near Düsseldorf, Germany, United States
- Status: announced
- Capacity: 10,000 metric tons per year by 2023, 50,000 metric tons per year by 2026
- Products: Sero hemp fiber
- Sectors: [Industrial Textiles](https://endata.com/sectors/industrial-textiles.md)

## Companies

- [Bast Fibre Technologies](https://endata.com/companies/41826.md)
- [Ahlström Capital](https://endata.com/companies/41827.md) (investor)

## Sources

- [wwd.com](https://wwd.com/sourcing-journal/industry-news/bast-fibre-technologies-hemp-fiber-production-ahlstrom-capital-investment-1238804839/), 2019-09-03: "The market for natural fibers is set for rapid growth, and this highly strategic funding will help BFT to solidify its position and further accelerate its expansion."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.