Prova Investments continues to grow its European portfolio of early-stage businesses operating at the forefront of cleantech, sustainability and the circular economy, by taking an equity stake in Composite Braiding.
Based in Derby, East Midlands, Composite Braiding produce advanced composites by combining materials such as carbon, glass, aramid and basalt fibres with thermoplastics. Using an award-winning automated manufacturing process, components can be braided quickly and at scale, reducing labour costs by 90%, waste by 97% and using 95% less energy.
Composite Braiding recently won the sustainability award for net-zero initiative at the Composites UK Awards for pioneering work to devise a lower-carbon manufacturing process for structural composites.
Richard Postins, of Prova Investments, commented: “We’re thrilled to be welcoming Composite Braiding to our portfolio. Over the past decade, we’ve worked to build an impressive portfolio of investments across cleantech, sustainability and circular economy sectors – seeing our first successful exit last year.
“With unique processes to manufacture advanced composites using sustainable materials, Composite Braiding is a great fit for our growing portfolio. We’re looking forward to supporting the company’s growth as it continues to pioneer composite manufacturing.”
Steve Barbour, managing director at Composite Braiding, added: “Following on from our recent sustainability award success, this new investment marks further good news for the Composite Braiding business. We were really impressed by the extensive cleantech, sustainability and circular economy portfolio that Prova Investments has established and we’re excited about the support they can bring to our business going forward. We are already implementing our 2023 plans and are continuing to innovate new solutions in automated composite manufacturing.”
To find out more about Prova Investments, visit www.provapr.co.uk/investments.