FyberX Holdings, a developer of technology to process raw agricultural biomass into refined natural fibers, will invest $17.5 million to establish its U.S. headquarters and production operation in the former Kinderton Distribution Center building in Mecklenburg County, Virginia.
The new facility will process hemp and other agricultural products, producing fibers to supply the textile industry, and will create 45 new jobs. Virginia Secretary of Agriculture and Forestry Matthew Lohr said industrial hemp fiber has great potential in Virginia, “and FyberX can unlock that potential and create a sustainable market” for the state’s hemp producers, with its investments into the processing infrastructure for this rising crop.
“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. “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.”
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Young said the 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 Southern Virginia and its neighboring states.
FyberX was founded in 2019 to build the foundational infrastructure required to process raw agricultural biomass into refined natural fibers and create more environmentally friendly manufacturing solutions. The company focuses on industrial hemp sources in the U.S. and will use its patented technology to process hemp for use in sustainable replacements for the textile, packaging and construction industries.
FyberX plans to build a green supply chain by working with industrial hemp and other domestic, non-tree sources of fiber and establishing centralized large-scale processing centers throughout the U.S.
The Virginia Economic Development Partnership and Virginia Department of Agriculture and Consumer Services (VDACS) worked with Mecklenburg County to secure the project for Virginia. The governor approved a $150,000 grant from the Commonwealth’s Opportunity Fund to assist Mecklenburg County with the project.
FyberX is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.
VDACS will assist Virginia hemp producers with accessing this market opportunity and offer resources to develop the physical and regulatory infrastructure this new industry needs to be successful.