DELCOR Family Office has backed a USD$70M Series A Global Carbon Fibre innovation as part of LeMond Composites USD$44M partnership with Deakin University. This ground breaking technology innovated by Deakin University brings low cost high volume carbon fibre to the global market.
The exclusive licensing agreement between LeMond Composites LLC, (a Greg LeMond company whom is a three times winner of the Tour De France) and Deakin University in Geelong Victoria, brings together an international world leading team of professionals, innovators and visionaries in carbon fibre production. An initial USD$14M Convertible Note laid the framework for LeMond Composites to partner with Deakin University enabling the commercialisation of their technology in the global market place.
Victoria has again cemented itself as the nation’s leader in advanced manufacturing with a new partnership between Deakin University and LeMond Composites to revolutionise carbon fibre production.
The Victorian Government welcomed the USD$44 million (AUD$58 million) deal to license world-first technology developed by Deakin’s Carbon Nexus research centre.
The technology will enable carbon fibre to be manufactured using up to 75 per cent less energy – making the process faster and cheaper. It allows more carbon fibre to be developed for cars, bikes, boats, bridges and laptops, as well as its existing uses for aircraft and aerospace.
LeMond Composites is also considering the development of a carbon fibre manufacturing plant in Geelong, with an investment of more than $30 million in construction and equipment, creating many jobs.
Victoria is the nation’s manufacturing state. The industry contributes around $26 billion to the Victorian economy each year and employs more than 270,000 people.
This partnership is a game changer – setting a new path for carbon fibre manufacturing to create jobs and reduce energy costs.
Victoria is quickly becoming a hub for advanced manufacturing, and developments in carbon fibre will help inform the Government’s Advanced Manufacturing Statement.
Quotes attributable to Minister for Industry and Employment
I’m excited to see what Deakin University and LeMond Composites will achieve on a global scale with this world-first technology.
This has the potential to create even more advanced technology jobs for Geelong.
Quotes attributable to Member for Geelong