Spiber raises cash for fermented fibers

Abstract

The biomaterials start-up Spiber has raised $311 million to advance its Brewed Protein platform for making biobased fibers for the apparel market. The private equity firm Carlyle led the investment and was joined by existing investors, including the Cool Japan Fund. About a third of the funding was raised by expanding an earlier arrangement with Morgan Stanley. Spiber expects to open its first full-scale plant in Thailand later this year and one in the US in 2023. The firm says it is working toward a stock offering “within the next several years.”