The ties that bind, Dublin’s PlasmaBound raises €2.35 million

University College Dublin spin-out PlasmaBound has raised €2.35 million in a recent funding round. The startup’s patented controlled polymer ablation (CPA) technology acts as the bonding agent between ultra-lightweight fibre-reinforced materials. The new capital is slated to further fuel the company’s expansion efforts. To date, PlasmaBound has raised a total of €3.5 million.

With global industries pushing ever forward with carbon reduction goals, efficiencies are at the forefront of just about every materials designer. In the automotive world, for example, lighter materials translate into less mass a battery-powered engine has to move, and thus, a greater extension of range.

But when we start removing traditionally metallic components, items that are stitched together through the process of welding, with fibre-reinforced parts like Bcomp’s natural fibre/plastic sandwich, what’s holding everything in place?

This is the fundamental question PlasmaBound is addressing with their controlled polymer ablation solution. Applicable across the aerospace, transport, marine, renewable, and consumer electronics sectors, according to the company, their process enables high-speed bonding of composite materials with no consumables and no waste, all the while retaining 100 percent fibre integrity and structural efficiency.

“Our technology is about getting more renewable, lightweight materials into use faster as we seek a more sustainable carbon-reduced future.  We are excited to continue our rapidly accelerating journey toward enabling these materials to be standard on vehicles, structures and devices,” commented PlasmaBound CEO Alan Barry. “Right now this is limited by cost and complexity to only high-tech applications, or premium price points, with limited real environmental impact. Pushing recyclable composites into mainstream mass-production will move the dial on all our efforts for a sustainable tomorrow.”

PlasmaBound’s €2.35 million funding round was led by Act Venture Capital, with participation from the Atlantic Bridge University Fund, Enterprise Ireland, and a number of undisclosed angel investors.

“The level of real-world plasma control achieved with CPA will let industries use composites ubiquitously, cost-effectively, and creatively – it will enable a big step forward in composite material use. Something I think the sector has been waiting for,’’ concluded Act Venture Capital’s John O’Sullivan.