Hemp processor to locate in Virginia
RICHMOND, VA — Governor Glenn Youngkin recently announced that FyberX Holdings (“FyberX”), a developer of technology to process raw agricultural biomass into refined natural fibers, will invest $17.5 million to establish its U.S. headquarters and production operation in the former Kinderton Distribution Center building in Mecklenburg County. The new facility will process hemp and other agricultural products, producing fibers to supply the textile industry, and will create 45 new jobs.
“This industry is an emerging market in the United States, and I welcome the opening of the headquarters of FyberX which will unlock its growth potential in the Commonwealth,” said Governor Glenn Youngkin. “This industry provides a sustainable alternative for industrial and consumer products that will also bring economic benefits to Virginia communities and farmers, and we look forward to a successful partnership with FyberX.”
“Virginia provides the right combination of competitive assets to attract and foster the growth of forward-thinking companies like FyberX,” said Secretary of Commerce and Trade Caren Merrick. “This project is a win-win that will create 45 new jobs and revitalize a formerly vacant facility, boosting the economic vitality of Mecklenburg County and the region. Today is another step forward in our goal to bring opportunity to all corners of the Commonwealth.”
“Industrial hemp fiber has great potential in Virginia, and FyberX can unlock that potential and create a sustainable market for the Commonwealth’s hemp producers, with its investments into the processing infrastructure for this crop,” said Secretary of Agriculture and Forestry Matthew Lohr. “I commend FyberX for their bold vision and commitment to bringing this needed infrastructure to Southern Virginia.”
“Southern Virginia is strategically positioned to play a vital role in unlocking the economic potential of industrial hemp fiber in a variety of markets including textiles, construction, packaging, automotive, and bioplastics,” said Ben Young, CEO of FyberX. “We are excited to work with the local community to implement socially responsible best practices, including a zero-waste production model that minimizes emissions, a transparent supply chain, fair wages, and safe and state of the art processing facilities, all of which will define a new global standard for natural fiber production facilities. The Mecklenburg County facility and anticipated future facilities across the South East of the United States will expand the availability of domestically grown and processed hemp fiber while simultaneously providing a substantial economic benefit to not only Southern Virginia, but it’s neighboring states.”
“Mecklenburg County is excited to welcome FyberX to the community,” said Glenn Barbour, Chairman, Mecklenburg County Board of Supervisors. “We are pleased to have an agricultural-related announcement in our area that creates jobs and potential for additional crops for our local farmers.”