Textile technology company FyberX will invest $17.5 million into locating its headquarters in Mecklenberg County. The company develops technology to create textile fiber out of industrial hemp.
That’s a product that Virginia and North Carolina farmers who are seeking new crops are already suited to grow, CEO Ben Young told The Virginia Star.
“This industry is an emerging market in the United States, and I welcome the opening of the headquarters of FyberX which will unlock its growth potential in the Commonwealth,” Governor Glenn Youngkin said in the announcement. “This industry provides a sustainable alternative for industrial and consumer products that will also bring economic benefits to Virginia communities and farmers, and we look forward to a successful partnership with FyberX.”
The company, formed in 2019, touts its plans to build a green supply chain and its focus on non-tree fibers. The new site will create over 40 new jobs, according to the announcement.
“Southern Virginia is strategically positioned to play a vital role in unlocking the economic potential of industrial hemp fiber in a variety of markets including textiles, construction, packaging, automotive, and bioplastics,” Young said in the announcement. “We are excited to work with the local community to implement socially responsible best practices, including a zero-waste production model that minimizes emissions, a transparent supply chain, fair wages, and safe and state of the art processing facilities, all of which will define a new global standard for natural fiber production facilities. The Mecklenburg County facility and anticipated future facilities across the Southeast of the United States will expand the availability of domestically grown and processed hemp fiber while simultaneously providing a substantial economic benefit to not only Southern Virginia, but its neighboring states.”
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Eric Burk is a reporter at The Virginia Star and The Star News Network. Email tips to [email protected].
Photo “Hemp” by Aleks. CC BY-SA 3.0.
