Spiber Inc. is pleased to announce the execution of a ¥5B commitment line contract via a syndicate loan led by MUFG Bank, Ltd., and with the participation of regional financial institutions The Yamagata Bank, Ltd., The Shonai Bank, Ltd., and TSURUOKA SHINKIN BANK. Funds obtained from this round will be used toward the planned construction of a mass production plant for the fermentation and purification of structural protein materials in the Eastern Seaboard Industrial Estate (Rayong), Thailand.

Additionally, Spiber has executed a ¥1.5B lease contract with Mitsubishi UFJ Lease & Finance Company Limited (President & CEO: Takahiro Yanai), for the purpose of expanding and upgrading the company’s spinning, R&D, and other facilities at its headquarters in Tsuruoka, Yamagata.

Funds from this round will help establish the foundation for medium and long term growth through their utilization in the construction of Spiber’s Thai plant and the improvement and expansion of domestic facilities.

Details can be found here.