Zoltek Companies, Inc. announced the Hungarian Government government has pledged a grant to turn Zoltek’s facility 30 miles west of Budapest “into the world’s largest carbon fiber production facility.” Through the expansion, Zoltek is committed to adding 600 new employees in Hungary over the next few years. The Hungarian Government grant of 29 billion HUF (approximately $14.5 million) will be used to modernize its facility, establish a research and development center there, and support a rapid buildup of manufacturing capacity for both acrylic fiber precursor raw material and carbon fiber. By the end of 2009, Zoltek expects rated annual carbon fiber production in Hungary to reach at least 8,000 tons (18 million pounds), compared to 800 tons (2 million pounds) at the beginning of 2005.
Since becoming a public company in 1992, Zoltek has focused on a mission of “commercializing” carbon fibers — by reducing the cost and price of this high-performance, space-age material and producing it in the quantities needed to encourage widespread adoption in emerging applications. Zoltek believes that it has been a catalyst in turning carbon fiber into the key enabling material for achieving breakthrough levels of performance in a variety of recently developed applications, including wind energy, ultra deepwater drilling, the creation of super- strong but super-lightweight concrete structures, and a new generation of extraordinarily fuel efficient cars.
In 2004, Zoltek identified wind energy as the first clear “breakthrough” non-aerospace application for carbon fibers. Zoltek has entered into long-term strategic supply relationships with both Vestas Wind Systems AS, of Denmark, the world’s largest producer of wind turbine generators, and Gamesa Eolica, of Pamplona, Spain, the world’s second largest producer. Zoltek is supplying both of those customers with carbon fibers produced in Hungary. In 2005 and early 2006, key technical employees transferred from Hungary to Zoltek’s Abilene, Texas facility played a key role in re-establishing carbon fiber production at that plant.
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