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Welcome to this week’s Sunday Digest, brought to you by Switchboard Public Relations. In this issue, meet the hemp innovators ridding the world of plastics, and the entrepreneur making us rethink seafood. Have a great day. We'll see you again Thursday.

Bast Fibre Tech secures strategic financing to accelerate hemp fibre product expansion

Bast Fibre Technologies (BFT), the global maker of hemp fibres with a corporate office in Victoria, announced that it’s closed major strategic financing with Ahlström Capital of Finland.

BFT is known for its advanced fibre processing technology, which has enabled it to develop a product called Sero – a superior natural hemp fibre for replacing plastics.

This financing will enable BFT to produce over 10,000 metric tons of Sero hemp fibre per year by 2023, and up to 50,000 metric tons per year by 2026, the company said. To do this, it now plans to begin work to expand its fibre manufacturing capacity at its U.S. flagship facility in Lumberton, North Carolina and its EU facility near Düsseldorf.

According to BFT CEO Jim Posa, many companies across industries are looking for viable natural fibre options to achieve their corporate sustainability initiatives as they move away from synthetics. "The market for natural fibres is set for rapid growth,” he explains, “and this highly strategic funding will help BFT to solidify its position and further accelerate its expansion to meet the increasing demand for tree-free, plastic-free fibres.”

If you want to learn more, watch this recent video with BFT co-founder and chief innovation officer Jason Finnis.

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📰 More Victoria innovation news

⭐ Exclusive: Aki Kaltenbach is saving the seas, one carrot at a time. Through her plant-based seafood company, Save Da Sea, Kaltenbach is getting us to relearn seafood. Get the full story from Victoria Tech Journal writer James Matthews.

🏅 Of note: Spring Activator announced its Top 10 founders in the Women-led Impact Investor Challenge presented by Telus. A number of Victoria innovators made the cut. Take a look.

🕴️ Tech jobs of the week

Find your next career:

• Digital Marketing Manager at The Web Advisors

• Business Development Representative at VINN Automotive Technologies

• Manager, IT Infrastructure at North Island College

Hiring in Victoria? Reply to this email and let us know! 

📅 Upcoming events

October 27: ProductTank Victoria - Fall Meetup

November 2: F*ckUp Night VOL 14.2

November 17: BattlePong

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