A Victoria-based company that produces hemp-based, compostable fibres used in the manufacture of products such as cleaning wipes is about to increase its manufacturing footprint and start commercializing its natural-fibre production process after raising $8.5 million in equity financing.

Bast Fibre Technologies raised the money from existing investors and U.S.-based private equity firm Merida Capital Holdings.

The company raised $4.5 million last year that allowed it to complete trials and start production.

Read more/Source: Times Colonist

By Andrew Duffy