# Bast Fibre Technologies secures strategic investment from Ahlström Capital

Bast Fibre Technologies Inc. (BFT) closed a strategic financing with Ahlström Capital of Finland to expand fiber manufacturing capacity at its facilities in Lumberton, North Carolina, and near Düsseldorf, Germany. The investment aims to increase production to over 10,000 metric tons of sero hemp fiber per year by 2023 and up to 50,000 metric tons per year by 2026.

- Type: Investment
- Announced: 2022-10-12
- Where: Lumberton, North Carolina, United States
- Starts operating: 2023
- 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

- [torys.com](https://www.torys.com/en/work/2022/10/ffe7b350-c58b-4c81-8e78-39c6e585a407), 2022-10-12: "Bast Fibre will use the capital from the investment to begin work to expand fibre manufacturing capacity at its US-flagship facility in Lumberton in North Carolina and its EU-facility near Düsseldorf in North Rhine-Westphalia."
- [industryintel.com](https://www.industryintel.com/news/bast-fibre-secures-ahlstrom-capital-investment-to-become-world-s-largest-specialty-hemp-fiber-processor-purifier-investment-to-expand-fiber-production-for-nonwovens-to-50-000-tonnes-or-year-by-2026-at-lumberton-north-carolina-dusseldorf-germany-sites-157886194368), 2022-10-12: "This financing will enable BFT to produce over 10,000 metric tons of sero™ hemp fibre per year by 2023 and up to 50,000 metric tons per year by 2026."
- [textileworld.com](https://www.textileworld.com/textile-world/fiber-world/2022/10/bast-fibre-technologies-inc-secures-strategic-investment-from-ahlstrom-capital/), 2022-10-13: "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."
- [bangladeshtextilejournal.com](https://bangladeshtextilejournal.com/canadian-hemp-fibre-manufacturer-secures-funding/), 2022-10-17: "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"

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