Development Bank of Wales invests £350k in sustainable tech innovator Lineat Composites
Catherine Golledge and Sara Thomas, from our Corporate & Private Equity team, have advised the Development Bank of Wales on its £350,000 investment in Lineat Composites, alongside new and existing investors including Green Angel Ventures, UK Innovation & Science Seed Fund, East Innovate, SFC Capital and business angels bringing the total to £1.4 million equity raised.
A sustainable technology business specialising in the recycling of carbon fibre, Lineat is leading the development of commercial fibre alignment technologies and products to turn single-use carbon fibre into a multi-use sustainable commodity material of the future. Lineat operates across a range of sectors, including aerospace, automotive, motorsport, sport, renewables and electronics.
This investment has allowed Lineat to move its head office and production facility from Bristol to a new 4,800 sf unit in Chepstow and plans to create 24 new jobs. The move also supports Lineat in boosting production to meet demand from industries across the marketplace who are focusing on achieving net-zero emissions.
Adam Ramzaan at the Development Bank of Wales said:
If current practices continue, carbon fibre waste is projected to reach 500,000 tonnes by 2035. Lineat’s circular approach to carbon fibre aims to tackle this issue by creating Welsh jobs, driving innovation, and reducing the carbon footprint. Capital Law’s invaluable support and expert guidance were instrumental in structuring this deal, ensuring a smooth process and a strong foundation for Lineat’s future growth.
Sara Thomas, Associate at Capital Law, said:
Lineat Composites have developed an exciting, cutting-edge technology that will undoubtedly have a positive impact on lowering carbon footprint. We have enjoyed supporting Development Bank of Wales on its investment and look forward to seeing Lineat’s growth and development in the years to come.
