Renaissance Fiber lands $2.24M to build US hemp fiber plant
What's the deal? Renaissance FiberDealroom has a profile for this one. Try Dealroom → has secured $2.24 million in debt financing to complete and operate its first commercial-scale hemp fiber processing facility in Mocksville, North Carolina. The package includes $2 million in financing backed by the US Small Business Administration, a low-interest loan from the Fibers FundDealroom has a profile for this one. Try Dealroom →, and a zero-interest recoverable loan from Invest AppalachiaDealroom has a profile for this one. Try Dealroom →.
What's the endgame? The money funds the North Carolina company's shift from years of research into commercial production, covering manufacturing infrastructure, raw material purchases, and inventory. Renaissance Fiber degums raw hemp fiber and refines it into a material that can be spun on the cotton and synthetic-fiber equipment mills already use.
Why now? The Fibers Fund and Invest Appalachia committed early catalytic capital in April 2026, support that helped the company qualify for the larger SBA package. The groups said the backing leveraged their initial financing by more than eight times. Construction in Mocksville is underway and expected to finish before the end of 2026.
Why it matters: Renaissance Fiber buys raw fiber from US growers and works with farmers, spinners, and mills, positioning its plant as a missing processing link in the domestic textile supply chain. Hemp fiber processing has historically needed specialised infrastructure with limited global capacity.
The signal: US fiber-hemp output reached an estimated 65 million pounds in 2025, up from about 20 million in 2022, yet its production value stayed at just $13.5 million — a sign that more crop alone does not create a viable textile supply chain. Processors are racing to close that gap: IND HEMP added refining equipment in Montana in October 2026. Renaissance Fiber's significance will depend on sustained output and customer demand, not the financing alone.
Read more: kohantextilejournal.com
Image credit: kamsky
