Less than six months after announcing it would shut down operations, next-gen material maker Natural Fiber Welding (NFW) is back thanks to an injection of cash from two new investors.
The Peoria, Illinois-based company announced this week that it has received investments from Provest Equity Partners and CTW Venture Partners, which will allow the company to re-emerge and accelerate global-scale commercialization of its climate-tech materials platform. The amount of those investments wasn’t disclosed. Along with the funding, Provost Equity Partners managing partner Suhas Uppalapati will take on the role of NFW board chairman.
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NFW announced in September 2025 that it was winding down operations after several years of turmoil that included founding CEO Luke Haverhals stepping down in October 2024, along with four waves of layoffs in two years.
NFW said these investments will not only allow the company to resume operations, but also expand production of its Pliant naturally cured performance rubber outsoles and Mirium, its all-natural, plastic-free leather alternative.
“This partnership marks an important inflection point for NFW, enabling us to continue our mission of bringing sustainable, performance materials to market” said Steve Zika, CEO of NFW. “We are excited to partner with Provest, whose operator-driven approach and focus on disciplined scale align directly with what NFW needs as demand from global brand partners continues to accelerate. Together with CTW, we are strengthening the foundation required to scale responsibly while advancing the next generation of high-performance, sustainable materials.”
NFW said that its proprietary green chemistry-made materials represent a scalable, regenerative, circular platform capable of replacing entire categories of plastics and petrochemical-based materials. Pliant is currently available for order, and the company said it is working with brands such as Allbirds, Ralph Lauren, Asahi Kasei and BMW iVentures.
“NFW exemplifies the type of platform we seek to support—breakthrough science paired with real industrial relevance,” Uppalapati said. “Our role is to translate innovation into scalable, profitable growth, and we are excited to partner with NFW and CTW as the company enters its next phase.”
Uppalapati’s role with NFW reflects Provest’s hands-on operator-investor model, which the company says has “deep experience in advanced manufacturing, operational systems and industrial scale-up.” CTW Venture Partners also has expertise in scaling climate-tech and materials-science platforms, lending support to companies such as SoftWear Automation, an autonomous sewing technology firm.
Provest Equity Partners and CTW Venture Partners said they plan to support NFW by “strengthening unit economics and sustainable supply-chain execution, enhancing governance, systems and capital structure to accelerate commercialization with global brand partners and advancing next-generation materials science initiatives.”
Going forward, NFW said it plans to deepen relationships with the footwear, fashion, automotive and industrial markets to advance its mission of replacing petroleum-based materials with high-performance, regenerative, climate-aligned natural alternatives.
