Key Highlights:
- AIMPLAS, the Plastics Technology Centre, and REDIT Ventures have launched a new company called LOFITH COMPOSITES.
- The company’s business plan envisions income of €5 million and the creation of more than 25 jobs for highly skilled workers in the first few years after launch.
- The new company will focus on designing and creating long-fibre reinforced thermoplastics pellets (LFTP) and UD-tapes for the automotive, aerospace and construction industries, and for rail construction.
AIMPLAS/REDIT
Left to right: José Antonio Costa, director of AIMPLAS, José Luis Yusá, president of AIMPLAS, and Gonzalo Belenguer, director of REDIT Ventures.
AIMPLAS, the Plastics Technology Centre, and REDIT Ventures have launched a new company called LOFITH COMPOSITES. The company’s business plan envisions income of €5 million and the creation of more than 25 jobs for highly skilled workers in the first few years after launch.
The new company will focus on designing and creating long-fibre reinforced thermoplastics pellets (LFTP) and UD-tapes for the automotive, aerospace and construction industries, and for rail construction. Because of their low weight, strength and recyclability, LFT composites are perfect for a wide range of applications.
AIMPLAS, the Plastics Technology Centre, and REDIT Ventures, a specialised investment vehicle sponsored by the eleven REDIT Technology Institutes that make up the Network of Technology Institutes of the Valencian Community (REDIT), have launched LOFITH COMPOSITES, a new technology company focused on developing long-fibre reinforced thermoplastics (LFTs) composites.
These composite materials are made of a thermoplastic polymer matrix reinforced with long and continuous fibre in order to develop LFTP and UD-tapes. This makes it possible to obtain strong, lightweight parts that are more versatile than those made of traditional thermoset materials. These materials can also be functionalised by giving them properties such as conductivity, shielding and fire resistance, which makes them ideal for demanding industries such as the automotive and aeronautical industries.
Components manufactured with these materials can have greater mechanical strength without losing ductility and also boast the added advantage of adapting to different manufacturing processes, such as injection, compression moulding and automatic fibre placement. In addition, the thermoplastic polymers used are easily recyclable and can also be repaired because they can be melted in several processing cycles to provide more economical alternatives.
These properties have increased the demand for LFT composites, which have become a viable alternative to thermoset composites in different sectors such as the aerospace, rail and automotive industries. In fact, lightweight LFT composites are expected to replace conventional materials, thus enabling to comply with stringent industry standards.
The company’s business plan anticipates income of €5 million and the creation of 25 jobs for highly skilled workers in the first few years of operation.
José Luis Yusá, president of AIMPLAS, said: “The launch of this company is a very important milestone for AIMPLAS, as this will be the first company created through one of our technological developments. It also showcases our commitment to environmentally friendly activities”.
Gonzalo Belenguer, the general manager of REDIT Ventures, added: “LOFITH Composites is REDIT Venture’s fourth spinoff launched this year, this time with AIMPLAS. It is yet another example that underlines the level of excellence of highly disruptive R&D at REDIT Technology Institutes, which enables us to continue creating technology companies in the Community of Valencia.
"This involves maintaining stability throughout the network, which helps guarantee the annual volume of R&D projects (there are currently more than 2,400), as well as technology transfer to the industrial community.”