4M Carbon Fiber and Montefibre Carbon to Partner for Production of the Lowest-Cost Carbon Fiber in the World
Oct 21, 2019, 08:36 ET
KNOXVILLE, Tenn., Oct. 21, 2019 /PRNewswire/ -- 4M Carbon Corp. and Montefibre Carbon Fiber are in the process of finalizing a letter of intent (LOI) to establish a partnership, including a potential U.S.-based joint venture (JV). 4M is currently a fully reporting SEC entity, which will accelerate a combined 4M/Montefibre IPO and listing in the U.S.
4M and Montefibre will disrupt the carbon fiber industry by combining Montefibre's ultra-large tow precursor and 4M's low-cost carbon fiber production technology to produce the world's lowest-cost industrial-grade carbon fiber.
4M's patented technology reduces the initial investment of a carbon fiber manufacturing line by up to fifty percent (50%) and ongoing operating cost savings by greater than thirty percent (30%), which will enable rapid growth of low-cost carbon fiber capacity.
Montefibre's ultra-large tow technology, with the full support of the Spanish government, significantly reduces carbon fiber precursor cost by exponentially increasing volume throughput.
"4M and Montefibre's JV addresses the biggest issues preventing large-scale adoption of carbon fiber for industrial applications that will benefit greatly from the strength and light weight of carbon fiber," said Garo Artinian, 4M Board Member and Chief Advisor. According to Alfonso Cirera, President of Montefibre Carbon, "This JV will make an important contribution to the competitiveness of American industry and its global leadership in composites."
4M will continue to implement its acquisition strategy of acquiring synergistic downstream carbon fiber conversion companies to build enterprise and shareholder value. Montefibre will continue to increase its carbon fiber precursor production capacity with the support of the Spanish government.
4M Carbon Fiber Corp. is a Delaware Corporation based in Knoxville, Tennessee. Montefibre Carbon Fiber is based in Miranda de Ebro, Spain.
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SOURCE 4M Carbon Fiber Corporation