Key Takeaways (Under 30 seconds)
- CleanFiber is taking on the insulation industry with a sustainable solution: transforming recycled cardboard into high-quality insulation.
- The company just closed a $28 million Series B funding round to accelerate its mission.
- CleanFiber already has a proven track record in the Northeast, with its insulation used in over 20,000 homes.
The construction industry is facing pressure to find greener building materials. Enter CleanFiber, a New York City startup with something special up its recycled sleeve. Its patented process gives cardboard a whole new life as fire-resistant, high-performance insulation. This isn’t just a feel-good idea – CleanFiber’s product is already disrupting the market, making inroads across the Northeast.
Now, they’re armed with even more firepower. A substantial Series B funding round led by sustainability-focused Spring Lane Capital just closed at $28 million. Along with other investors like Climate Innovation Capital and AXA IM Alts, CleanFiber has the backing to scale production, expand its product range, and drive adoption on a national level.
CleanFiber vs. The Competition
CleanFiber isn’t alone in the sustainable building materials game. Here’s a snapshot of the competition:
- Bonded Logic: This company uses recycled denim to create eco-conscious insulation.
- Icynene: Known for spray foam insulation, but focuses on improving energy efficiency rather than material origin.
- Rockwool: A major player in the mineral wool insulation market; sustainability initiatives are ongoing, but product source remains a concern.
CleanFiber’s edge? Its unique focus on utilizing ubiquitous recycled cardboard offers both environmental and potential cost advantages.
Deal Highlights
| CleanFiber Deal Highlights | Details |
|---|---|
| Funding Round | Series B |
| Amount Raised | $28 Million |
| Lead Investor | Spring Lane Capital |
| Other Investors | Climate Innovation Capital, AXA IM Alts, Tokyu Construction/Global Brain, Ahlström Invest, Family Offices |