NFW has developed novel technologies that allow natural inputs to be shaped and molded into a durable, all-natural and fully recyclable leather alternative called MIRUM. The financing round will help the company scale from batch processing of materials to commercial roll-to-roll production.
BMW Group also intends to form a strategic partnership with NFW to further its own sustainability goals, which include reduced CO2 emissions along the entire value chain.
“Having a scalable, cost-competitive alternative to leather with premium qualities is key to further advancing the decarbonization of the automotive industry,” said Kasper Sage, managing partner at BMW i Ventures.