CFP Composites (“CFP”), formerly known as Carbon Fibre Preforms, has developed a patented new form of carbon fibre composite which could open whole new markets in the train, aeronautical, shipbuilding, and oil and gas drilling industries worldwide. A viable alternative to the use of far heavier and poorer performing metals, CFP’s unique and revolutionary manufacturing process produces high performance, heat resistant carbon fibre components quickly, efficiently and at a c.50% lower cost.
CFP is based in Dudley in the West Midlands, operating from a 30,000ft² factory configured on a modular basis allowing for low cost, rapid expansion. The CFP management team have a wide and deep knowledge of the carbon fibre industry, from raw material to market, and a proven track record of successfully taking unique propositions to market, founding and developing Recycled Carbon Fibre Ltd, the world’s first carbon fibre recycling operation.
As soon as I visited their West Midlands production facility I could see CFP had the potential to become a great British engineering success story. This investment was also a first for us, co-investing with the Midven VC team who have also bought into the potential markets for CFP’s revolutionary material.
Simon Emary, Growthdeck
Exceeded original fundraise and funded in just three weeks
CFP raced past its initial target of £778,000 and quickly hit the maximum limit of £1.078m before closing. It has been Growthdeck's quickest raise to date, and demonstrates the potential of our fast-growing network. After circulating the opportunity to our registered investors, it exceeded 50% of the final fundraise amount in just over 7 days.
Here’s a round up of some of the great press coverage for this fundraise –
- £1.8m funding boost for Black Country firm and its revolutionary new carbon fibre (Express & Star)
- New funding deal for Black Country manufacturer (Birmingham Mail)
- Black Country manufacturer secures £1.8m investment (The Business Desk)
- Funding secured to bring new product to market (Insider Media)
- CFP Composites secures £1.8m investment from Midven (Angel News)
We are excited and privileged to have received this investment from both Midven and Growthdeck. This funding will have a vast impact on the business, giving us continuing capacity to take ground-breaking products to market. I was really impressed with Growthdeck’s professional and rigorous approach – mirroring that of the VC fund Midven.
Simon Price, Managing Director at CFP Composites