Spiber receives ¥6.5 billion in funding

April 30, 2019
Accelerating Materials Innovation More...
by Gihan Hewage
Very important

The funding, roughly $58 million, comes from Mitsubishi UFJ Lease & Finance and will contribute to expanding Spiber's capacity in Thailand and increasing and improving its fiber spinning capabilities. The spider silk space has shifted focus from textiles to cosmetics and composite applications due to challenges in scaling both protein production and spinning fibers. Hence, this funding has potential to help bring Spiber's Moon Parka, initially targeted for 2016, to market.

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