Natural Fiber Welding (NFW), a US textile inventor, has raised $15 million in its latest investment round and formed a strategic collaboration with automobile maker BMW.
BMW has sponsored NFW in its attempts to increase manufacturing of Mirum, a proprietary plant-based replacement leather, with the goal of integrating the plastic-free material into automobiles.
The German company aspires to reduce CO2 emissions across its value chain, and the use of more “sustainable” materials is seen as essential to that goal. Natural Fiber Welding’s products have quickly gained recognition in the textiles sector as the company strives for sustainability.
Mirum, the company’s flagship product, is produced entirely of recycled plant materials such as coconut husk, rice hulls, and cork, with no plastic binders or coatings required.
NFW announced earlier this year a new 110,000 square foot industrial area devoted to the manufacture of Mirum. The newly obtained funds will also go a long way toward assisting in the construction of infrastructure.
“We are furthering NFW’s aim to remove the need for plastics with our expanded production capabilities and the backing of businesses like BMW I Ventures,” stated Dr Luke Haverhals, CEO and creator of NFW.
“Because of the extensibility of our platform and the tunability of NFW materials, we can service a huge number of clients across various big, worldwide markets.” The dedication of big brands and enterprises to collaborate with NFW energises us on a daily basis.”