Soliyarn

Soliyarn Inc. will acquire and renovate a vacant industrial building at 23 Farrar St. in Lynn, Massachusetts for its new 18,000-square-foot headquarters and production facility. The project is supported by a $3.3 million bond from MassDevelopment. Soliyarn expects to create 84 full-time jobs over three years.

Material innovator Soliyarn has secured US$7.7 million in funding from Huvis Global and the Massachusetts M2I2 Manufacturing Grant programme to scale its new method of imparting conductive and waterproof functionalities into textiles.

Huvis, through its investment subsidiary Huvis Global, signed an agreement to purchase a 25% stake in Soliyarn, a US advanced smart textile startup. The deal was announced on May 3, 2022.