CleanFiber, LLC has secured $14 Million in Debt Financing from Lapis Advisers. The proceeds will be utilized to expand CleanFiber’s Buffalo Production Facility. CleanFiber makes high performance building insulation from recycled corrugated waste residuals. The company’s unique and patented process allows it to produce an advanced form of cellulose insulation that is cleaner, more uniform, and lower in dust than competitive products.
“Demand for CleanFiber’s sustainable insulation material continues to mount, easily outstripping our production capacity,” commented Jonathan Strimling, CEO of CleanFiber. “This $14M expansion loan from Lapis Advisers will allow us to rapidly expand production at our first manufacturing facility in Buffalo, NY in 2022. We’re grateful to Lapis for their support of our expansion, and we have already found them to be an incredibly valuable partner.”
“We’re thrilled to be a part of the CleanFiber team and to help advance CleanFiber’s efforts to provide a high-quality, sustainable cellulose insulation product to the marketplace,” added Cody Noll, Managing Director of Lapis Advisers. “CleanFiber’s innovative production process technology and its utilization of recycled materials aligns perfectly with Lapis’ investment goals, and we look forward to our partnership with the company.”