UK advanced materials and technology firm, Hypetex, the world’s first manufacturer of coloured carbon fibre, has attracted £1.25 million in new equity investment and welcomes two experienced business leaders as both investors and advisers to the company.
The investment is the latest round of Hypetex’s seed funding, led by 24Haymarket, which will support ambitious growth plans and help scale the business’s footprint.
Hypetex’s technology enables the sustainable colourisation of advanced materials whilst maintaining and often improving their performance properties. Using a water-based resin system and a low-energy curing process, the finished coloured composite materials can be used in a range of products, removing the need for any addition of paint whilst offering both cost-saving and built-in aesthetic improvements.
Applications range from consumer electronics, aerospace, yachting and lifestyle products to automotive design and Formula One. Hypetex has been used in a number of successful programmes recently, demonstrating the benefits of the technology, including projects with Adidas, New Balance, and Jaguar Land Rover.
Hypetex’s manufacturing operation is located in the South East of England. The company is in the process of expanding its product range to include natural fibre products that introduce additional significant sustainability benefits to the manufacturing of more eco-friendly lightweight products.
As part of the new investment, Neil MacDougall, a highly experienced private equity and angel investor, has been appointed Chairman of the Board for Hypetex. He brings with him a huge amount of experience having successfully run a pan-European private equity fund for 15 years and chaired the British Private Equity & Venture Capital Association from 2020 to 2021. He is a director of the UK Business Angels Association and a 24Haymarket investor.
Joining him as an advisor to the Board is Nick Rose, whose previous roles include CFO of Diageo plc, Chairman of Williams Grand Prix and Board Member at BAE Systems.
The appointments further strengthen the management structure for the organisation. MacDougall and Rose will work alongside CEO Marc Cohen and CTO, Nigel Dunlea as they continue to expand the company’s international footprint.
Neil MacDougall said: “Hypetex brings proprietary colourisation technology to the rapidly growing global composites market. This investment will enable Hypetex to further build on its unique market position in this growing $150 billion industry. I’m delighted to be joining the talented and dynamic management team as Chairman and to bring my experience in helping to scale-up hard-tech companies with break-through innovations.”
Marc Cohen said: “This new investment is testament to what we have achieved so far at Hypetex and I’m excited about the future with Neil and Nick involved at the core of the company. The composites market is growing at a rapid pace and we are well positioned to accelerate the use of our coloured advanced materials and be a key part of that as we develop exciting new product streams for the sector.”
James Campin, Investment Executive of 24Haymarket, said: “We’re delighted to be working with Marc, Nigel and the rest of the Hypetex team. Hypetex’s technology drives both performance and sustainability, with applications across a number of different industries and we feel they are expertly placed to take advantage of the growing market opportunity.”