The next step towards becoming a leading supplier of lightweight, strong and durable materials to the bicycle, automotive and aerospace markets
EIT RawMaterials supported start-up REIN4CED NV, a Belgian manufacturer of advanced composite bicycle frames, has successfully completed its series B capital increase of € 7.0 million led by Capricorn Partners. The investment was carried by the Capricorn Sustainable Chemistry Fund and Quest for Growth, who respectively invested € 2.5 and € 1.5 million in the company. Investors of the early hour, Gemma Frisius Fund, Finindus and Innovation Fund, also participated in this round. This capital injection supports the company’s ambitious growth trajectory to become the leading supplier of lightweight, strong and durable materials to the bicycle, automotive and aerospace market.
At Capricorn, we have been following the company since 2017 and are very impressed with the trajectory this team has realised. As investor in chemicals and materials, we know the time and challenges it can take to start a new production facility from scratch. Today, we are delighted to further support the company in its upscaling and realise the full potential of its unique product offering.
Ludwig Goris, Senior Investment Manager at Capricorn
Durable materials and sustainable production processes
REIN4CED’s advanced composites combine the excellent stiffness and lightweight properties of traditional carbon fibre with the toughness of ductile steel, making it the material of choice for every application where weight, stiffness and impact resistance (i.e. safety) are crucial. These attributes also contribute to a substantial increase in product durability, thereby expanding the lifecycle of all REIN4CED products. In addition, the use of thermoplastic resins guarantees better end-of-life reusability. The highly automated manufacturing line creates significant advantages towards supply chain management (reshoring) and manufacturing flexibility.
Global supply chain is slowly shifting to a local supply chain
The company has now firmly established its value proposition in the bicycle market, where it is supplying frames for various models to its European customer portfolio. The current capital increase significantly strengthens the company’s abilities to expand its manufacturing capacity, meet growing customer demand and develop new applications in sports and leisure, automotive and aerospace markets.
Due to supply chain challenges caused by COVID-19, many European based bicycle brands have accelerated their strategic search to centralise their operations. They are investigating how to bring their production closer to their respective markets. REIN4CED can play an important role in this supply chain improvement. At REIN4CED, we are focused on providing our customers with the latest in material technologies combined with an automated production process. Our early involvement in the product design and development process of our customers ensures an efficient process and allows their engineers to come up with exciting innovations that go beyond the current state of bicycle technology.
Michaël Callens, CEO of REIN4CED
EIT RawMaterials supported the REIN4CED team with Booster funding in 2017. The company benefited from financial and coaching support. The primary purpose of the funding was to enable REIN4CED to validate the technical feasibility of their concept, start co-development of a full-frame with lead customers and contract the investors required to fund the further path towards market introduction. This project was a definite success. In 2019, the inauguration of the plant in Leuven, Belgium, was the stepping stone towards the market growth envisioned by REIN4CED founders.