E-Leather, a UK-based global manufacturer of environmentally-friendly, high-tech material, has raised £70 million from new and existing investors.
Led by Roger Gregory, Corporate Partner, Pitmans Law advised E-Leather on the fundraising.
E-Leather provide eco-leather material for the aviation, bus and rail sectors, including the world’s four largest airlines. The fabric looks, feels and performs like real leather but is much more sustainable.
They currently export to over 40 countries and the funding will be used to invest in a state-of-the-art facility to meet demand from further international industries.
E-Leather is also currently working with Nike on a new performance material – a lighter and more durable leather with a 80% lower carbon footprint than traditional leather manufacturing.
Gregory said: “We were delighted to support a company with such a positive and worthy mission and this success will allow them more opportunities to thrive in the sustainable, high-performance material market.”
Chris McBean, President of E-Leather said: “This is an important milestone in the development of E-Leather, which has become a major success story in high-tech materials manufacturing. The new facilities will extend our global reach.”