Vartega announces new composites recycling facility, increased capacity, funding infusion
A new 50,000-square-foot manufacturing facility based in Denver, Colo., will enable ten times the production capacity of composite materials processing, recycling.
Photo Credit: Vartega
Vartega (Golden, Colo., U.S.), a recycler of carbon fiber and composite materials, is expanding its footprint and increasing to ten times the production capacity from its current facility in Golden, Colo. Vartega’s new 50,000-square-foot manufacturing facility and headquarters will be located in Building 2 of the recently completed Pecos Logistics Park (owned by institutional investors advised by J.P. Morgan Global Alternatives) in Denver.
The facility was selected to meet the growing demand for recycled carbon fiber and Vartega’s EasyFeed carbon fiber bundles, which are used as a low-cost alternative to virgin material for automotive and other industrial applications. With a planned capacity of 2,000 metric tons per year, Vartega says it will continue to serve its growing customer base in North America as well as address new opportunities in Europe and Asia.
The expansion coincides with a recent capital infusion led by Belle Impact Fund with participation from Autodesk Foundation, Keiretsu Forum, Texas HALO Fund, SWAN Impact Network, New Climate Ventures, HG Ventures, Denver Angels and other former and new investors. In addition to supporting the new facility and increased capacity, the oversubscribed $5 million Series Seed II funds will be used to help grow the Vartega team and support Vartega’s objective to achieve ISO 9001 certification in 2024.
“The Vartega team has worked diligently over the past several years to develop products and processes that solve challenging waste problems,” Andrew Maxey, CEO of Vartega, says. “We’re grateful for the considerable trust that our customers and investors have put in us to meet the needs of a changing world. Advanced materials recycling is no longer nice to have, it’s a must have. Our new facility will be a world-class manufacturing environment that will allow our team to operate safely and efficiently to deliver a reliable source of high-quality recycled carbon fiber while contributing to our community and providing a meaningful benefit to all our stakeholders.”
A future open house and ribbon cutting will celebrate Vartega’s progress and key partners.
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