FyberX to invest $17.5M in Mecklenburg HQ

FyberX Holdings, a regenerative agriculture company, will invest $17.5 million to establish its U.S. headquarters and production operations in Mecklenburg County, creating 45 jobs, Gov. Glenn Youngkin announced Wednesday.

The company will be located in the formerly vacant Kinderton Distribution Center in Clarksville, where it will process hemp and other agricultural products and produce fibers for the textiles industry, Youngkin’s office said in a news release.

“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,”  Youngkin said in a statement. “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.”

FyberX was founded in 2019 to build the infrastructure necessary to process raw agricultural biomass into refined natural fibers, while creating environmentally friendly manufacturing solutions. The company focuses on industrial hemp sources in the U.S. and will use its technology to process hemp for use as replacements for the textile, packaging and construction industries.

“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,” FyberX CEO Ben Young said in a statement. “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”

Young hinted that the company anticipates growth in the Southeastern U.S. FyberX plans to build a green supply chain by working with industrial hemp and other domestic nontree sources of fiber and establishing centralized, large-scale processing centers throughout the nation.

“Every business that comes to our region is a positive,” state Sen. Frank Ruff, R-Clarksville, said. “We are delighted that they will employ over 40 direct jobs. As an additional positive, they will also provide a benefit to our farm community, which will now have another crop for their land. The reason I offered the hemp legislation several years ago was for exactly this type of use.”

The Virginia Economic Development Partnership and Virginia Department of Agriculture and Consumer Services worked with Mecklenburg County to secure the project for Virginia. Youngkin approved a $150,000 grant from the Commonwealth’s Opportunity Fund to assist Mecklenburg County with the project. FyberX is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Money and services to support employee training activities will be provided through VEDP’s Virginia Jobs Investment Program.