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#Sustainability

NFW announces successful funding round under new CEO

NFW, a global leader in plastic-free biomaterials, today announced a series of strategic initiatives designed to ensure long-term sustainability and drive renewed growth. These initiatives include the appointment of co-founder Steve Zika as Chief Executive Officer and the successful closing of a funding round backed by existing shareholders.

Steve Zika to lead the next evolution of plastic-free biomaterials innovation

The leadership transition occurred in October, with NFW founder Luke Haverhals stepping down and co-founder Steve Zika assuming the role of CEO. Zika has been instrumental in NFW’s growth since its founding in 2016, serving as a key architect of the company’s pioneering work in sustainable biomaterials. Over the years, he has led critical areas including new product development, business strategy, and manufacturing operations, positioning NFW as a trailblazer in biomaterials innovation.

NFW also announced the successful closing of a funding round that saw broad participation from its existing investor base, demonstrating strong confidence in the company’s mission and market potential. This funding will help stabilize operations and lay the groundwork for future innovation and growth, even amidst a challenging macroeconomic environment.

A renewed business focus: Intermediates chemistry driving global impact

NFW will center its business on its proprietary intermediates technology—novel chemistries that power all of its materials, including the flagship MIRUM® product. MIRUM® is a revolutionary, plastic-free alternative to both conventional and synthetic leather, meeting the rigorous performance standards of even the automotive industry. Today, MIRUM® features in more than 80 commercial products from over 50 global brands.

NFW plans to deepen its relationships with strategic brand partners while continuing to drive innovation in the biomaterials space.

“NFW is uniquely positioned as the only company offering a capex-light scaling model capable of replacing petroleum-derived plasticizers and additives with sustainable materials,” said Zika. “Our solutions are not only good for the planet but also meet the high-performance demands of industries like fashion, footwear, and automotive.”

Recognition for global leadership

This September, NFW was named a finalist for the prestigious 2024 Earthshot Prize. Selected from a pool of nearly 2,500 nominees across 139 countries, this recognition highlights NFW’s leadership in sustainable innovation. The Earthshot Prize connects innovators with global leaders to catalyze investment, expand markets, and unlock transformative opportunities.

About CEO Steve Zika

Steve Zika holds a B.S. and M.S. in Material Science and Engineering from Stanford University. He spent 16 years at Advanced Micro Devices, serving as Director of Product Management and Chief of Staff to the President. A Peoria native, Zika returned home with his family after stints in Silicon Valley and Austin, Texas, and has since become a champion of Illinois’ startup ecosystem and co-founder of a mission-driven investment firm.



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#New Materials

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#Natural Fibers

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#Sustainability

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#Raw Materials

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#Man-Made Fibers

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#Functional Fabrics

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