FAIRMAT

Based in Paris, FAIRMAT offers recycling solutions to a range of carbon fiber reinforced plastics (CFRP) products using advanced technologies, such as AI, robotics, finite element analysis, and machine vision, which have enabled the process of transforming waste into chips, preserving 100% of the mechanical properties with no degradation of the material. FAIRMAT has claimed this new material (recycled carbon fiber composite) is 10x less expensive than other new composites, more resistant, and twice as light as aluminum, with a lifespan of about 20 years, and recyclable up to 5x without loss of performance. According to a Greenflex life cycle analysis, this material is said to save 15,000 metric tons of CO₂ every year. 

As of March 2024, FAIRMAT had been able to secure more than 35% of European scrap supply and operated out of a 4,000 sq m automated sorting plant in Nantes, France, able to accommodate over a hundred robots and a capacity of 3,500 metric tons of scrap per year. The company aimed to expand globally by entering the US market, with its first facility in Utah expected to come online in  Q2 2024, followed by expansions into Spain and Germany.

Key customers and partnerships

FAIRMAT had partnered with many companies (signing approximately 30 contracts as of November 2022) including Hexcel (November 2021) to recycle carbon fiber prepregs, and Siemens Gamesa (May 2022) to conduct an R&D study on the recycling of carbon fibers in wind blades. In April 2023, the company also partnered with Decathlon to develop a range of KUIKMA padel rackets integrating recycled carbon composites. In February 2024, Fairmat partnered with Withings, a connected health technology company, to integrate advanced materials into Body Scan scale.

Funding and financials

In its latest funding round in November 2022, the company raised EUR 34 million (~USD 35 million) in a Series A funding to accelerate the improvement of the company’s recycling capabilities, expand globally, and widen its scope to larger and more diverse sectors.