COEUR D’ALENE, Idaho — July 23, 2021 — Continuous Composites Inc. today announced the successful closing of its $17 million Series A financing led by B. Riley Venture Capital (BRVC), a subsidiary of B. Riley Financial Inc. (B. Riley). This latest investment follows prior funding rounds led by strategic partners Arkema S.A. and Saint-Gobain S.A. .
B. Riley Venture Capital employs a strategy focused on investing in late-stage private growth companies with a path towards public markets. BRVC’s mission closely aligns with the company’s growth strategy, and access to B. Riley’s full suite of investment banking solutions makes BRVC an ideal partner for Continuous Composites. This round of financing provides Continuous Composites with the growth capital to commercialize its proprietary Continuous Fiber 3D Printing (CF3D®) product offerings, as well as advance and protect the company’s expansive patent portfolio.
CF3D is an innovative additive manufacturing solution that combines high-performance continuous fibers with rapid curing resins in a 3D printing process to enable affordable manufacturing of complex composite structures. An industry-agnostic automated solution, CF3D is comprised of configurable hardware, proprietary software, and tailorable material solutions for strong yet lightweight applications.
“We are thrilled to partner with Tyler and the entire Continuous Composites team as they bring their disruptive technology to the market,” said Todd Sims, president of B. Riley Venture Capital, who will be joining the Continuous Composites board as part of this investment. “We were drawn to Tyler’s vision and leadership, the attractive revenue and margin profile of the business, and their blue-chip customers, both industrial and governmental, which we see as clear validation of the CF3D® technology,” Sims added.
Tyler Alvarado, Continuous Composites CEO commented: “This round of financing provides us with the growth capital to address the extraordinary demand from our customers. Over the years, we have taken a purposeful approach toward building breakthrough technology supported by a strong team and intellectual property portfolio, and we welcome Todd and the B. Riley team to our stakeholder group as we advance to the next phase of corporate development.”
Posted July 23, 2021
Source: Continuous Composites Inc.