Hypetex Colored Carbon Fiber Pioneer Secures Support From 24Haymarket Angels | Economic news

A British advanced materials manufacturer claiming to be the first in the world to produce colored carbon fiber has secured backing from one of the UK’s most formidable angel investor networks.

Sky News understands that Hypetex, which has supplied Formula 1 motor racing and counts Adidas and Jaguar Land Rover among its customers, will announce on Wednesday that it has raised £1.25million in a funding round led by 24Haymarket.

Hypetex will also say that it has appointed Nick Rose, the former chief financial officer of Diageo and ex-president of the holding company of the Williams F1 team, as an adviser to its board of directors.

Neil MacDougall, a private equity veteran who also chaired the British Venture Capital Association, joins Hypetex as chairman.

The new funding will support the deployment of Hypetex’ colorful advanced materials in industries including automotive, consumer electronics and sports.

By manufacturing colored carbon fiber materials, Hypetex eliminates the need for paint, reducing and improving the aesthetic appearance and performance of the products.

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The company’s products are used by many well-known brands, including Jaguar Land Rover. Photo: Hypetex

Founded in 2015, Hypetex is based in Hertfordshire and employs just six people.

Marc Cohen, Managing Director of Hypetex, said: “The composites market is growing at a rapid pace and we are well positioned to accelerate the use of our advanced colored materials and be a key part of it as we develop new stream of exciting products for the industry.”

Mr. MacDougall added, “Hypetex brings proprietary coloring technology to the rapidly growing global composites market.

“This investment will allow Hypetex to strengthen its unique market position in this growing $150 billion industry.”

James T. Quintero