FiberX Products Company Profile

Background

Overview

FiberX Products is an Indiana-based startup founded in 2022, specializing in transforming agricultural residues, particularly corn stover, into sustainable and high-performance materials. The company focuses on producing bioindustrial resins and biocomposite plastics, aiming to reduce reliance on petroleum-based feedstocks in the chemicals industry. By upcycling corn stover—the stalks, leaves, husks, and cobs left after corn harvest—FiberX creates valuable industrial inputs that benefit both the environment and the economy.

Mission and Vision

FiberX envisions a world where nature's abundant biomass is harnessed to its fullest potential. Its mission is to lead this transformation by unlocking the full potential of corn stover as a sustainable feedstock, enhancing product performance and sustainability while replacing petroleum-based materials in the chemicals and materials industries.

Industry Significance

By converting agricultural waste into high-value materials, FiberX addresses the growing demand for sustainable alternatives in the chemicals and materials industries. Its innovative approach contributes to environmental conservation and supports the agricultural sector by providing farmers with new revenue streams.

Key Strategic Focus

Core Objectives

Sustainable Material Production: Develop and commercialize bio-based resins and biocomposite plastics derived from corn stover.

Environmental Impact Reduction: Decrease reliance on petroleum-based materials and reduce the carbon footprint of industrial products.

Economic Support for Agriculture: Create new revenue streams for farmers by upcycling agricultural residues.

Areas of Specialization

Bioindustrial Resins: Formulate formaldehyde-free resins for applications such as pressed fiberboard.

Biocomposite Plastics: Develop fiber-reinforced plastics that enhance product performance and sustainability.

Key Technologies Utilized

Lignin Extraction and Depolymerization: Employ patent-pending proprietary technology developed in partnership with Purdue University's School of Chemical Engineering to extract and depolymerize lignin from corn stover.

Advanced Processing Techniques: Utilize innovative equipment and processes to efficiently convert corn stover into usable fibers and resins.

Primary Markets Targeted

Chemical Industry: Provide sustainable feedstocks for resins, adhesives, and coatings.

Plastics Manufacturing: Offer biocomposite materials for producing eco-friendly plastic products.

Agriculture: Support farmers by creating value from agricultural residues.

Financials and Funding

Funding History

Pre-Seed Round (May 2023): Raised $171,000 from an initial filing of $500,000.

Seed Round (September 2023): Raised $450,000 from an initial filing of $1.15 million.

Innovation Voucher (April 2023): Secured a $25,000 matching grant from Elevate Ventures through the Indiana Innovation Voucher Program to advance sustainable adhesive resin technology.

Notable Investors

AgriNovus Indiana: Invested $25,000 in December 2023.

Venture Club of Indiana: Invested $10,000 in June 2023.

Utilization of Capital

Research and Development: Advance the extraction and depolymerization process of lignin from corn stover.

Product Development: Formulate and test bio-based resins and biocomposite plastics.

Operational Expansion: Enhance production capacity and efficiency.

Pipeline Development

Key Pipeline Candidates

FBX Fiber: Microfibers derived from corn stover for use in thermoplastics, enhancing strength and reducing carbon footprint.

FBX Biocomposite Resin: Formaldehyde-free resins for applications such as pressed fiberboard, aiming to replace petroleum-based resins.

FBX Tunable Lignin: Depolymerized lignin with adjustable properties for diverse applications, including adhesives and coatings.

Stages of Development

FBX Fiber: Developed and featured in industry publications for its innovative use in sustainable compounds.

FBX Biocomposite Resin: In development, with plans to target the pressed fiberboard industry.

FBX Tunable Lignin: In development, focusing on creating a sustainable feedstock for industrial resins, coatings, and adhesives.

Target Conditions

FBX Fiber: Enhance mechanical properties of thermoplastics.

FBX Biocomposite Resin: Provide formaldehyde-free alternatives to traditional resins.

FBX Tunable Lignin: Offer versatile applications in adhesives and coatings.

Anticipated Milestones

FBX Fiber: Commercialization and scaling production.

FBX Biocomposite Resin: Market introduction and adoption in the pressed fiberboard industry.

FBX Tunable Lignin: Development of diverse applications and partnerships.

Technological Platform and Innovation

Proprietary Technologies

Lignin Extraction and Depolymerization: A patent-pending process developed in partnership with Purdue University to extract and depolymerize lignin from corn stover, creating a sustainable feedstock alternative to petroleum.

Significant Scientific Methods

Advanced Processing Techniques: Utilize equipment such as vibrating screens, conveyors, and hammermills to efficiently process corn stover into usable fibers and resins.

Leadership Team

Key Executives

Dave Skibinski: President and CEO. Co-founder with a background in technology and innovation, leading FiberX's strategic direction and partnerships.

Angela Perez: Chief Operating Officer. Oversees daily operations and ensures efficient production processes. Appointed as COO in 2025, bringing extensive experience in operations management.

Market and Competitor Profile

Market Insights and Dynamics

The market for sustainable materials is expanding, driven by increasing environmental awareness and regulatory pressures to reduce carbon footprints. The biocomposite plastics market is valued at approximately $44 billion, with the renewable feedstock market exceeding $850 billion.

Competitor Analysis

Fitesa: A leading manufacturer of nonwoven fabrics, competing in the fiber and fabric industry.

WPT: Specializes in nonwoven fabrics, competing in the fiber and fabric sector.

US Felt: Produces nonwoven fabrics, competing in the fiber and fabric industry.

Strategic Collaborations and Partnerships

Purdue University: Collaborated to develop the lignin extraction and depolymerization process, enhancing product development.

Elevate Ventures: Provided a $25,000 Innovation Voucher to support sustainable adhesive resin technology development.

Operational Insights

FiberX differentiates itself by upcycling agricultural residues into high-performance materials, reducing environmental impact and supporting the agricultural sector. Its innovative processing techniques and strategic partnerships position it favorably in the sustainable materials market.