BMW, Porsche and Volvo invest in flax-fiber composite maker

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In Sweden, the venture capital arms of leading automakers, including BMW, Volvo and Porsche, have invested in Bcomp, a company using natural fibers to lightweight materials. 

The CHF-32 million ($34-million), oversubscribed Series B will enable Bcomp to scale its workforce, increase its global and domestic production capacity, and strengthen its commercial footprint. 

Bcomp’s natural fiber-based sustainable light weighting solutions enable substantial weight- and CO2 emission reductions versus standard materials, with applications ranging from FORMULA 1 and automotive, to aerospace, yachts, and infrastructure. The flax fibers used to produce Bcomp’s ampliTex™ and powerRibs™ sequester CO2 during their growth and act as a rotational crop to improve soil health and subsequent harvests. 

The strategic group of investors consists of automotive venture capital entities BMW i Ventures, Volvo Cars Tech Fund and Porsche Ventures.