August 13, 2024, Buffalo, NY - CleanFiber today announced that it has been recognized as the #1 Fastest Growing Firm in Manufacturing in America among the Inc. 5000. CleanFiber’s high performance cellulose building insulation is made from recycled cardboard boxes, and the firm is experiencing extraordinary growth.

In the 2024 annual ranking of the 5,000 fastest growing companies in America, CleanFiber was ranked #1 in Manufacturing, #1 in Buffalo, #4 in New York and #48 nationally across all categories. CleanFiber’s 3 year growth rate was 5,684%, which represents nearly 57-fold growth over a three year period.

“CleanFiber’s growth has been driven by strong market demand for its unique product, which outperforms conventional cellulose,” said Jonathan Strimling, CleanFiber’s Chief Executive Officer. “We are deeply grateful to our incredibly hard-working team for achieving 57X growth over a three year period, despite the pandemic and numerous other challenges.”

CleanFiber has now cumulatively secured more than $100M in funding to advance its unique technology. The firm closed a $28M Series B funding round earlier this year, led by Spring Lane Capital, which also provided a $32M project financing facility to support the rollout of additional plants nationwide. In addition, the firm has benefitted from numerous state, federal, and private programs focused on decarbonizing our nation’s building infrastructure, including programs sponsored by ARPA-E, NYSERDA, EPA, NSF, etc.

Recent Press

• CleanFiber Selected for $20 Million in DOE Grants to Support New Plants, Bringing Total Capital Secured in 2024 for National Expansion to $75 million (October 25, 2024)

• TechCrunch: CleanFiber wants to turn millions of tons of cardboard boxes into insulation (April 12, 2024)

• TechCrunch: The “Valley of Death” for climate lies between early-stage funding and scaling up. (April 27, 2024)

About CleanFiber

CleanFiber is a pioneering materials science company focused on decarbononizing buildings. We make high performance building insulation products from recycled corrugated cardboard boxes. Our carbon negative insulation provides improved energy efficiency on an affordable basis. We are deeply committed to advancing our nation’s economy while also helping our nation achieve other societal and environmental goals.

For further information, contact Alexandra Harris, Director of Capital Markets and Investor Relations via aharris@cleanfiber.com.

Website: www.cleanfiber.com