To give carbon fiber a second life, Fairmat has just announced a new 34 million euro fundraiser. Deeptech aims to recycle 3,500 tons of aircraft parts in France by 2025 and to open satellite industrial sites abroad.
Recycling carbon fiber composites found in airplanes or wind turbine blades is the challenge of the startup Fairmat founded in 2020 by Benjamin Saada. After an initial fundraising of 8.6 million euros in September 2021, the former co-founder of Expliseat announces a new fundraising of 34 million euros from Singular, his historic fund, and from Temasek and NOC.
Two years after its creation, Fairmat is one of the deeptechs to have raised the most funds. A success that comes from its technology. “She is very robotic. It is based on learning, artificial intelligence. This allows us to go very fast in terms of value proposition, market capture”; indicated the founder, a guest of Good Morning Business, this Monday, November 21st. The start-up covers over 35% of industrial waste across Europe.
“A material of tomorrow”
Carbon fiber is a material used to lighten airplanes and make wind turbines bigger so they produce more energy. It is also used to store hydrogen. According to Benjamin Saada, “it’s a material of tomorrow”. While widely used, it has one serious drawback. At the end of its life, it is incinerated or buried. “We therefore lose the ecological advantage”, specified the entrepreneur.
The solution offered by Fairmat? Recycle carbon fiber without polluting. “We collect it and cut it into small pieces before reassembling it to produce parts for the whole industry: automotive, electronics…”
Thanks to this latest fundraiser, the startup, made up of 80 employees, plans to establish itself abroad soon. “We will be looking to establish satellite sites in Spain, Germany and the United States,” announced Benjamin Saada. According to him, needs are everywhere. “All Western countries need to recover material production capacity and this is very unique”.