Development Bank of Wales Leads £1.4M Investment in Lineat’s Move to Wales

The Development Bank of Wales has played a key role in securing the future of green technology innovator Lineat, leading a £1.4 million equity raise that will support the company’s relocation and growth in Wales. Lineat, a leader in carbon fibre recycling, has moved its headquarters from Bristol to a 4,800 sq. ft. facility in Chepstow, creating up to 24 new jobs as the company scales its operations.

The equity raise, which included £350,000 from the Development Bank of Wales and £550,000 from Green Angel Ventures, is set to help Lineat further develop its proprietary Aligned Formable Fibre Technology (AFFTTM). This technology transforms carbon fibre waste into reusable materials, offering a sustainable solution to industries such as aerospace, automotive, and renewables.

Lineat’s relocation to Wales comes as part of the Development Bank’s broader mission to invest in innovative tech ventures that promote sustainability and job creation in Wales. The investment is part of the £20 million Wales Technology Seed Fund, designed to back emerging Welsh tech companies and those looking to establish operations in the country.

Adam Ramzaan, Investment Executive at the Development Bank of Wales, praised Lineat’s potential to make a significant impact:
“With the growing challenge of carbon fibre waste, Lineat is perfectly positioned to lead the development of a circular economy for this material. Their move to Wales, supported by our investment, will not only boost local job creation but also contribute to reducing carbon emissions in high-tech industries.”

Lineat’s innovative approach to carbon fibre recycling supports Wales’ commitment to fostering a green economy, aligning with the goals of the Welsh Government to create sustainable, high-quality jobs in emerging industries.

The Development Bank’s investment, alongside funding from partners like Green Angel Ventures and the UK Innovation & Science Seed Fund, will enable Lineat to scale production and meet increasing demand from manufacturers seeking sustainable materials to achieve net-zero targets.

Caption – Dan Ball, Engineer, Lineat; Daniel Carvalho, Machine Engineer, Lineat; Gary Owen, CEO, Lineat; Dr Lourens Blok, CTO, Lineat; Surakat Kudehinbu, Green Angel Ventures; Adam Ramzaan, Investment Executive, Development Bank of Wales.