SAN FRANCISCO – German materials technology startup FibreCoat raised nearly 20 million euros ($21 million) in a Series B funding round announced Dec. 4.
NewSpace Capital and Goose Capital jointly led the funding round.
“With our latest round of investment, FibreCoat will apply the insights gained from terrestrial applications of our material to work with the space industry,” FibreCoat CEO Robert Brüll told SpaceNews by email. Space- applications include radiation shielding, temperature regulation and reducing the weight of satellites, he added.
Prior to establishing the company in 2020, FibreCoat’s founders patented methods for coating fibers with metals and plastics based on research and development at RWTH Aachen University’s Institute for Textile Technology, where they worked.
FibreCoat offers products that “combine the properties of different materials in a single high-speed production step,” Brüll said. The resulting fibers are “strong, conductive, recyclable and affordable,” he added.
To date, automotive and construction customers have adopted FibreCoat products. Now, the company seeks to expand its role in the space and defense sectors.
Close up of a roll of FibreCoat material. Credit: FibreCoatSpace and DefenseFibreCoat is “keen to innovate, increase production and satisfy demand for basic building blocks for defense, space, automotive and other crucial sectors,” Brüll said in statement. ”Affordable, high-performance materials are vital for electric vehicles, while in defense, there is real demand for yarns for sensors, circuits, shielding and chaff material.”
Brüll said space is another “critically important sector,” adding “both launchers and satellites increasingly need the coated fibers we develop to withstand harsh conditions” and electromagnetic interference (EMI).
Bogdan Gogulan, NewSpace Capital managing partner, said in a statement, “FibreCoat is solving a major problem in the space industry, which is the exposure of spacecraft to radiation, heat, EMI and other conditions.”