FibeRio(R) Technology Corporation Announces Strategic Investment Financing Led by SABIC and Aster Capital

FibeRio(R) Technology Corporation Announces Strategic Investment Financing Led
by SABIC and Aster Capital

FibeRio announces a $13M capital raise led by SABIC Ventures B.V., Saudi Basic
Industries Corporation's corporate venture capital arm, and Aster Capital
Partners, sponsored by Solvay, Schneider Electric, Alstom and the European
investment fund. The funding will foster its commercial growth, help introduce
larger scale production systems to the market and execute on a growing
pipeline of orders and global opportunities.

MCALLEN, Texas, Feb. 25, 2013 (GLOBE NEWSWIRE) -- via PRWEB - FibeRio, the
developer and manufacturer of ground breaking Forcespinning® nanofiber
production systems, today announced it has completed a $13M capital raise led
by two global strategic investors – SABIC Ventures B.V., Saudi Basic
Industries Corporation's corporate venture capital arm, and Aster Capital
Partners, sponsored by Solvay, Schneider Electric, Alstom and the European
investment fund. The funding will be used to accelerate the company's
commercial growth, introduce larger scale production systems to the market and
execute on a growing pipeline of orders and global opportunities with industry
leading customers.

"The support of two of the leading, knowledgeable strategic investors in this
space, SABIC and Aster Capital, is a strong validation of the uniqueness of
our Forcespinning technology and will help the company accelerate our growth,
open new markets and enable new applications for all of our customers,"
commented Ellery Buchanan, CEO of FibeRio. "This collaboration will greatly
accelerate our vision of the Forcespinning process becoming the world's
leading, cost effective process to produce nanofibers at scale never before
achieved."

Forcespinning is a disruptive, platform technology which enables leading
manufacturers to produce nanofibers on a truly commercial scale in a cost
effective way using a wide range of polymers and an environmentally sensitive
process. Forcespinning is the only fine fiber production system capable of
both melt and solution spinning from lab scale to full industrial scale
production. Unlike electrospinning, Forcespinning does not require materials
to contain certain dielectric properties for processing which limits the
materials that can be produced into fiber. Nanofiber applications are used in
a variety of markets including filtration, nonwovens, battery separators,
textiles, biomedical and conductive applications.

Hans Kolnaar of SABIC Ventures commented, "FibeRio's unique processing
technology not only increases our market reach, but offers SABIC an
opportunity to move further down the value chain with innovative fibers for
our customers."

"We view the cost effective production of nanofibers at scale as a key
technological focus for the nonwovens marketplace for a wide variety of
applications in the filtration, energy, medical, hygiene and textiles markets.
Thanks to our sponsor, Solvay, we were able to validate that FibeRio has a
unique breakthrough technology to accelerate nanofiber growth for all levels
of production. We are excited to partner with a company that will be driving
the deployment of nanofibers for the foreseeable future," commented Pascal
Siegwart and Todd Dauphinais, partners at Aster Capital in a joint statement.

The combined breadth of resins represented by SABIC and Aster cover everything
from commodity polymers such as polypropylene and nylon to high performance
materials including fluoropolymers, polysulfones, polyethylene imines, and
liquid crystal polymers among others. A number of these materials have never
been made into nanofibers before and can offer materials performance
advantages to FibeRio Forcespinning equipment customers. FibeRio, SABIC and
Solvay will all benefit through the integration of a wide range of resins with
Forcespinning technology.

FibeRio's existing shareholders also participated in this financing round,
including the University of Texas System - UT Horizon Fund, the University of
Texas - Pan American, the State of Texas, Silverton Partners and Cottonwood
Technology Fund I. As part of this financing, James Wilson, of SABIC's
Innovative Plastics Strategic Business Unit, and Todd Dauphinais of Aster
Capital will join the FibeRio board of directors.

About FibeRio

FibeRio Technology Corporation provides the technology and capital equipment
to transform the materials market through the unlimited availability of cost
effective nanofibers. Founded in 2009, the company has already delivered
several large scale industrial Forcespinning units to industry leading
customers across the globe. The company is headquartered in its manufacturing
facility in McAllen, TX. For more information, please visit
http://www.fiberiotech.com or call 956-207-5448.

About SABIC Ventures

SABIC Ventures is the global corporate venture capital arm of SABIC, based in
the Netherlands. Its primary goal is to seek out innovative technologies and
businesses consistent with the company's global strategy. Its investment focus
includes functional materials, alternative feed stocks for chemicals and
materials and alternative energy technologies. SABIC Ventures invests directly
in seed stage, early stage and late stage companies.

For more information, please visit http://www.sabic.com/ventures

About SABIC

Saudi Basic Industries Corporation (SABIC) ranks among the world's top
petrochemical companies. The company is among the world's market leaders in
the production of polyethylene, polypropylene and other advanced
thermoplastics, glycols, methanol and fertilizers.

SABIC recorded a net profit of SR 29.24 billion (US$ 7.80 billion) in 2011.
Sales revenues for 2011 totaled SR 189.90 billion (US$ 50.64 billion). Total
assets stood at SR 332.78 billion (US$ 88.74 billion) at the end of 2011.

SABIC's businesses are grouped into Chemicals, Polymers, Performance
Chemicals, Fertilizers, Metals and Innovative Plastics. SABIC has significant
research resources with 16 dedicated Technology & Innovation facilities in
Saudi Arabia, the USA, the Netherlands, Spain, Japan, India and South Korea.
The company operates in more than 40 countries across the world with around
40,000 employees worldwide.

SABIC manufactures on a global scale in Saudi Arabia, the Americas, Europe and
Asia Pacific.

Headquartered in Riyadh, SABIC was founded in 1976 when the Saudi Arabian
Government decided to use the hydrocarbon gases associated with its oil
production as the principal feedstock for production of chemicals, polymers
and fertilizers. The Saudi Arabian Government owns 70 percent of SABIC shares
with the remaining 30 percent held by private investors in Saudi Arabia and
other Gulf Cooperation Council countries.

For more information, please visit http://www.sabic.com

About Aster Capital

Aster Capital is a leading energy and environment technologies focused venture
capital firm sponsored by Schneider Electric, Alstom and Solvay, global
leaders in the energy and chemicals industries, and the European investment
fund through the Competitiveness and Innovation Framework Programme. They have
jointly invested in Aster's second $135 million investment fund. With a total
of $200 million under management, Aster aims to proactively leverage the
expertise of these sponsors to support its portfolio companies in their
further development. Aster Capital has offices in Paris, San Francisco,
Shanghai, Tel Aviv and Tokyo.

For more information, please visit http://www.aster.com

###

This article was originally distributed on PRWeb. For the original version
including any supplementary images or video, visit
http://www.prweb.com/releases/2013/2/prweb10456776.htm

CONTACT: FibeRio Technology Corporation
         Kial Gramley
         kgramley@fiberiotech.com
         (956) 207-5448
 
Press spacebar to pause and continue. Press esc to stop.