Holland Private Equity has invested €9m (£7m) into Airborne, a Netherlands-based company that intends to become a European leader in composite components for industrial applications.
According to Airborne, the capital will be used to build the world’s first dedicated manufacturing facility for the continuous production of high-end fully bonded thermoplastic composite tubulars for the oil and gas industry. This facility will most likely be located in Rotterdam.
Over the past 10 years, Airborne has developed the process technology to manufacture high-end thermoplastic tubular systems and the company claims that the technology is ready for industrial scaling.
The existing pilot line, to be scaled to an industrial level, is the first fully automated production line for composite products that Airborne has developed in house. The industrial production of composite components for other markets is expected to follow.
‘Our thermoplastic composite tubular products represent an exciting new technology and have the strong potential to fill definite gaps in downhole operations and the ever-growing deep-water subsea market,’ said Arno van Mourik, chief executive officer of Airborne International.