London-based advanced materials and technology firm Hypetex, the world’s first manufacturer of coloured carbon fibre, has scored £1.25 million in equity seed funding. The investment round was led by 24Haymarket (that pumped funds into Circulor recently) along with senior business leaders.
Hypetex will use the funding to support ambitious growth plans and help scale its footprint. Its manufacturing operation is located in the South East of England and it is in the process of expanding its product range to include natural fibre products that introduce additional significant sustainability benefits to the manufacturing of more eco-friendly lightweight products.
Also, it will support the rollout of coloured advanced materials across sport, automotive and consumer electronics sectors
Marc Cohen said: “This new investment is testament to what we have achieved so far at Hypetex and I’m excited about the future with Neil and Nick involved at the core of the company. The composites market is growing at a rapid pace and we are well-positioned to accelerate the use of our coloured advanced materials and be a key part of that as we develop exciting new product streams for the sector.”
James Campin, Investment Executive of 24Haymarket, said: “We’re delighted to be working with Marc, Nigel and the rest of the Hypetex team. Hypetex’s technology drives both performance and sustainability, with applications across a number of different industries and we feel they are expertly placed to take advantage of the growing market opportunity.”
Appoints new leaders
In addition to this investment, the company has two experienced business leaders as both investors and advisers to the company. As part of the new investment, Neil MacDougall, a highly experienced private equity and angel investor, has been appointed Chairman of the Board for Hypetex. He is a director of the UK Business Angels Association and a 24Haymarket investor. Also, the company hired has Nick Rose as an advisor to the Board.
The appointments further strengthen the management structure of the organisation. MacDougall and Rose will work alongside CEO Marc Cohen and Chief Technology Officer Nigel Dunlea as they continue to expand the company’s international footprint.
Neil MacDougall said: “Hypetex brings proprietary colourisation technology to the rapidly growing global composites market. This investment will enable Hypetex to further build on its unique market position in this growing $150 billion industry. I’m delighted to be joining the talented and dynamic management team as Chairman and to bring my experience in helping to scale-up hard-tech companies with breakthrough innovations.”
World’s first coloured carbon fibre maker
Founded by Edward Ashley-Carter in 2014 in London, Hypetex, the engineering, manufacturing and design company created the world’s first coloured carbon fibre brand. It is a pioneer in adding visual aesthetics to high performance advanced engineered materials.
Its technology enables the sustainable colourisation of advanced materials whilst maintaining and often improving their performance properties. Using a water-based resin system and a low-energy curing process, the finished coloured composite materials can be used in a range of products, removing the need for any addition of paint whilst offering both cost-saving and built-in aesthetic improvements.
Applications of this coloured carbon fibre range from consumer electronics, aerospace, yachting and lifestyle products to automotive design and Formula One. Hypetex has been used in a number of successful programmes recently, demonstrating the benefits of the technology, including projects with a growing customer list, including Adidas, New Balance, and Jaguar Land Rover.