Fishy Filaments aims to net new funding

By

Nigel TAYLOR

Published
Aug 2, 2024

The problem of discarded/broken fishing nets polluting the sea is one that’s being tackled by a Cornwall-based company called Fishy Filaments.

It’s claiming to be the world’s first recycler transforming end-of-life fishing nets into a range of high-value materials (including those that can be used in the fashion and eyewear sectors).

And the eight-year-old business has launched a new funding campaign via Crowdcube to support the next phase of its growth, targeting £150,000 to expand, develop, and market a number of products and materials that have already been trialled by several major companies, including Prada and L’Oréal, and are used in the production of sustainable brand 30 South’s eyewear.

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Essentially, the business recycles old Cornish gillnets into virtually carbon-free marine nylon for use in advanced engineering and manufacturing processes, “providing a vital second life solution for end-of-life monofilament net, a costly problem waste”. That problem amounts to 200,000 tonnes of nets that are burnt, buried or discarded at sea globally each year.

Founder and CEO Ian Falconer said: “We have a proven range of products… advanced R&D… and an established and growing base of loyal international customers ranging from Philips Lighting to Mutiny Shaving, with significant interest from fashion designers.

“We’ve undertaken trials or studies with multiple blue-chip customers including L’Oréal, Prada, Ford, and Daimler-Benz, and are currently participating in trials with other major automotive players including BMW.”

Also aided by a £126,000 loan from the British Business Bank-backed SWIG Finance, and a recent cash grant of almost £50,000 from Cornwall Council’s Growth Hub, a new automated plant will increase raw material production levels to 20 tonnes per annum in the next year, and then on to 50 tonnes a year.