Loan for Synthetic Structural Protein Material Manufacturing Business of US Subsidiary of Spiber Inc.
Supporting Overseas Business Expansion of Japanese Startup
- Region: North America
- Manufacturing and Services
- Overseas Investment Loans
The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed today a loan agreement amounting to JPY5.0 billion (JBIC portion) to support the synthetic structural protein material manufacturing business of a US subsidiary of Spiber Inc. (Spiber). The loan is co-financed with MUFG Bank, Ltd., bringing the total co-financing amount to JPY10 billion.
The loan is intended to finance the funds necessary for Spiber’s US subsidiary (Spiber America LLC) to conduct its synthetic structural protein material manufacturing business.
Spiber is a biotechnology startup that develops synthetic structural protein materials. Produced through microbial fermentation and utilizing plant-derived sugars as their primary raw material, Spiber’s synthetic structural protein materials are well-positioned to make significant contributions toward plastic-free initiatives, among others, in a range of fields, such as the apparel and automotive industries. They have also attracted attention as next-generation core materials from Japan capable of playing a role in the development of a sustainable society. The loan will financially support Spiber’s overseas business expansion, thereby contributing toward maintaining and improving the international competitiveness of Japanese industry and the resolution of social issues.
As Japan’s policy-based financial institution, JBIC will continue to provide financial support to assist Japanese companies in the overseas expansion of their businesses by drawing on its various financial facilities and schemes for structuring projects.