A group of 13 organisations in Europe have been funded by European Seventh Framework Programme to develop sustainable carbon fibres. The project known as NEWSPEC involves industries, R&D institutes and Universities from Italy, UK, Germany, Ukraine, Greece, Belgium, and France.
NEWSPEC group involves fibre and textile institutes, automotive companies, management consultancy and runs for four years and is expected to end by 31st October 2017. Project NEWSPECs objectives involve developing carbon fibres using cost effective polymers such as polyethylene, which can result in 30 per cent cost savings. A news release from the University of Exeter in the UK, a collaborating partner in the project states that total funding for the project is about Euros 10 million.