09Jan
05Dec
Buffalo Next: CleanFiber secures $20M in federal funds to help expand nationally
With $20 million in grants secured from the U.S. Department of Energy, CleanFiber is opening new plants in Washington and Texas. These grants are part of more than $75 million in financing vehicles, grants, and tax credits the Buffalo-headquartered startup has secured in 2024. The company, which makes building insulation from recycled corrugated cardboard supporting energy efficiency, moved to Buffalo after winning $500,000 in the 43North business competition in 2016. The company was founded in Massachusetts in 2013 and was...
25Oct
Insulation company to build 60,000-square-foot production facility in Chehalis
In an announcement Tuesday, the U.S. Department of Energy (DOE) announced that CleanFiber will receive two $10 million federal grants to build facilities in Chehalis and Ennis, Texas, that will create 80 full-time jobs. The Chehalis plant is one of 14 projects announced by DOE to increase clean energy manufacturing in 15 coal communities across the United States. CleanFiber will conduct outreach to disadvantaged and displaced coal workers and has pledged to remain neutral during any union-organizing campaigns. According to...
14Aug
CleanFiber Recognized as #1 Fastest Growing Manufacturing Company in America among Inc. 5000
CleanFiber today announced that it has been recognized as the #1 Fastest Growing Firm in Manufacturing in America among the Inc. 5000. CleanFiber’s high performance cellulose building insulation is made from recycled cardboard boxes, and the firm is experiencing extraordinary growth. In the 2024 annual ranking of the 5,000 fastest growing companies in America, CleanFiber was ranked #1 in Manufacturing nationally across all categories. CleanFiber’s 3 year growth rate was 5,684%, which represents nearly 57-fold growth over a three year...
28Apr
The ‘valley of death’ for climate lies between early-stage funding and scaling up
Jonathan Strimling faced a dilemma. His company had spent nine years working on chemical processes that could turn old cardboard boxes into high-quality building insulation. The good news was the team had finally cracked it: CleanFiber’s technology pumped out insulation — really good insulation. It had fewer contaminants and produced less dust than other cellulose insulation made from old newspapers. Insulation installers loved the stuff. Now CleanFiber had to make more of it. A lot more. Many founders and CEOs...
13Apr
Buffalo materials startup secures $28M Series B round
A local materials science startup has raised an eight-digit funding round to fuel growth. CleanFiber, which manufactures building insulation from recycled corrugated cardboard, recently closed a $28 million Series B equity funding round, according to a news release. The startup also secured a $31.5 million project financing facility. Read more >>
13Apr
CleanFiber wants to turn millions of tons of cardboard boxes into insulation
...Cardboard would seem like a perfect, paper-based solution to the insulation industry’s short supply, except there’s one problem: Corrugated boxes are riddled with contaminants like plastic tape, shipping labels and even metal staples. Transforming it into insulation is far more challenging than newsprint ever was. Yet one startup, CleanFiber, anticipated the shift and has been working on the problem for years. Read more >>
12Jan
5 Buffalo-area startups to watch in 2024
With the Covid-era days of funding a plenty long gone, 2023 marked a tough year for many startups across the country. Some banks and venture capital firms failed, companies laid off staff and businesses shut down. Yet, the environment meant the positive standouts shone all the brighter. Read more >>
23Jun
Founders who closed funding rounds this year share advice for raising capital
In this tough economic environment, venture capital funding can be difficult to find. In the U.S., startups’ total amount raised in Q1 2023 declined for the seventh straight quarter, according to Pitchbook. CleanFiber raises another $6.7M to expand production capacity - As CleanFiber works toward completing its factory expansion and ramping up production, the Buffalo-based startup is raising more funds. The business, which manufactures building insulation from recycled corrugated cardboard, recently raised $5 million in debt financing and $1.7 million...
07Jun