Vartega

About Vartega

Vartega is a key player in the advanced materials recycling sector, focusing on the reclamation of carbon fiber. Founded in 2014 by Andrew Maxey, Josh Gary, Sean Kline, and Mark Williams, the Golden, Colorado-based company addresses the significant waste issue within the plastics and composites industry, where approximately 30% of carbon fiber is landfilled during manufacturing. CEO Andrew Maxey's journey began with a curiosity about a broken carbon fiber bicycle frame in high school. This interest, combined with his professional background in mechanical engineering and experience at a startup processing textiles without water, led him to experiment with chemical recycling processes in his garage, ultimately forming the foundation of Vartega.

The company has developed a patented, low-energy solvolysis process to recycle scrap and expired carbon fiber pre-impregnated materials. This chemistry-based method is described as being akin to a carbon fiber washing machine, often housed in a shipping container, which allows for modular and scalable deployment close to the sources of scrap. The process results in recycled carbon fiber that retains the mechanical properties of virgin material but at half the cost and with 95-99% less energy consumption. Vartega has secured significant funding to support its growth, including a notable $11.2M Series A round in December 2023, bringing its total funding to over $12.1M from investors like Diamond Edge Ventures, the National Science Foundation, and Techstars.

Vartega's business model involves turning this recycled material into several products for sale. Its flagship product, Fenix Fiber™, is offered in formats like "EasyFeed Bundles" for thermoplastic compounding, dry chopped fiber for thermosets, and compounded thermoplastic resins for injection molding and 3D printing. A premium version, Fenix Fiber+™, is enhanced with additives like functionalized graphene. The company serves a diverse client base across the automotive, aerospace, additive manufacturing, consumer electronics, and sporting goods industries. Revenue is generated through the wholesale of these recycled carbon fiber products. To support its operations and growth, Vartega expanded into a new 82,000-square-foot production facility in Denver, aiming for a production capacity of 2,000 metric tons per year, and has achieved ISO 9001 and 14001 certifications.