IFG Asset Management (“IFG”) has committed equity capital to CleanFiber, LLC (“CleanFiber” the “Company”) which will enable CleanFiber to expand its state-of-the-art cellulose insulation production facility in Buffalo, leveraging its breakthrough insulation technology. IFG Asset Management made a significant investment and Turner Smith, a Managing Partner at IFG, accepted a board seat with CleanFiber. Turner brings extensive experience in investment banking and has a track record of successful investment in CleanTech and recycling ventures. Turner Smith commented, “CleanFiber’s unique technology positions it to take market share rapidly in insulation markets, and we’re excited to be playing a role in advancing this technology’s growth.”

CleanFiber’s first state-of-the-art 60,000 square foot manufacturing facility will be the nation’s first utilizing its breakthrough manufacturing process and will create 30-35 jobs. The company already has millions of dollars in pre-orders and is sold out well into 2020, with an expectation of ultimately producing approximately 3 million bags annually. Jonathan Strimling, CEO of CleanFiber added, “We’re grateful to all our backers, and in particular we are glad to have IFG Asset Management involved, as we know they are eager to continue to play a role in supporting our growth as we roll out nationwide.”

About CleanFiber 

CleanFiber makes high performance building insulation from recycled corrugated cardboard. The company’s unique and patented process allows it to produce an advanced form of cellulose insulation that is cleaner, more uniform, and lower in dust than competitive products. Despite its superior performance, the company can offer this product at pricing that is directly competitive with conventional products. The company is scaling up to support a mounting backlog of demand from New York, New England, the MidAtlantic, the Midwest and Eastern Canada from its Buffalo production facility.

For more information, please visit www.cleanfiber.com