RTS technology by iCOMAT ramps up with $22.5 million funding

Rapid tape shearing (RTS) developer iCOMAT (Bristol, U.K.) announces the successful closure of its Series A funding round, securing $22.5 million in capital. The round was led by 8VC (Austin, Texas, U.S.), and co-led by Nato Innovation Fund (NIF, Amsterdam, Netherlands). Other investors joining the round include Syensqo Ventures (read “Solvay partners with iCOMAT for tow steering technology”) and existing investors Velocity Partners VC.    

ICOMAT’s automated and scalable manufacturing technology delivers light, strong and sustainable composites structures for aerospace and automotive vehicles, particularly as new processes and materials either offer incremental benefits or are not financially viable at scale.

Unlike conventional methods, which produce components by stacking multiple straight fiber layers, iCOMAT’s RTS production technology enables fiber steering — the ability to steer the fibers to optimize the properties of a structure at any point. This technology can help reduce weight by 10-65% compared to state-of-the-art commercial solutions, iCOMAT contends, and can increase production rates by 10 times.

“ICOMAT’s RTS process not only offers unparalleled structural efficiency, but unlocks fully automated production workflows, akin to automotive stamping lines,” says Dr Evangelos Zympeloudis, founder and CEO of iCOMAT. “We look forward to partnering with investors and accelerates progress toward our mission — to revolutionize transportation by delivering the lightest structures and vehicles possible.”

ICOMAT is currently working with more than 25 customers across the aerospace, automotive and defense sectors, and has successfully delivered demonstrator parts for demanding applications, including fighter aircraft panels, space launcher structures and Formula 1 components.

To service demand, iCOMAT is also building its first production factory in Gloucester, U.K. The 45,000-square-foot state-of-the-art manufacturing facility will house three fully automated RTS production lines, alongside an array of advanced processing equipment. The factory will be online by the end of 2024, able to go from raw material to final parts.