FyberX Holdings will invest $17.5 million to establish headquarters in the United States.
A production operation will also be housed in the former Kinderton Distribution Center building in Mecklenburg County, Va.
FyberX develops technology to process raw agricultural biomass into refined natural fibers, according to a press release.
The new headquarters and production operation will create 45 jobs, and will process hemp and other agricultural products, producing fibers to supply the textile industry.
“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,” Gov. Glenn Youngkin said in the press release. “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.”
Founded in 2019, FyberX’s goal is to build the foundational infrastructure required to process raw agricultural biomass into refined natural fibers and create more environmentally-friendly manufacturing solutions. The company’s focus, according to the press release, is hemp sources in the U.S. FyberX plans to build a green supply chain working with industrial hemp and other domestic non-tree sources of fiber to establish centralized large-scale processing centers across the country.
“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,” FyberX CEO Ben Young said in the press release. “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 South East 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 it’s neighboring states.”
The Virginia Economic Development Partnership, Virginia Department of Agriculture and Consumer Services (VDACS) and Mecklenburg County secured the project for Virginia. The project will be funded by a $150,000 grant from the Commonwealth’s Opportunity Fund.
“Mecklenburg County is excited to welcome FyberX to the community,” Glenn Barbour, Chairman of the Mecklenburg County Board of Supervisors, said in the press release. “We are pleased to have an agricultural-related announcement in our area that creates jobs and potential for additional crops for our local farmers.”
Secretary of Agriculture and Forestry Matthew Lohr said industrial hemp fiber has great potential in the Commonwealth, and FyberX is able to unlock that potential.
“I commend FyberX for their bold vision and commitment to bringing this needed infrastructure to Southern Virginia,” Lohr said in the press release.
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Rebecca Barnabi
