Oak Ridge Today

LeMond Composites to make carbon fiber, composite bicycles—invest $125 million, create 242 jobs

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Greg LeMond, three-time Tour de France champion, celebrated the opening of LeMond Composites, a new company he co-founded, during a ceremony on Wednesday afternoon, Oct. 12, 2016, at Horizon Center in west Oak Ridge. The company is expected to make composite bicycles and carbon fiber, and invest $125 million and create 242 new jobs. (Photo by John Huotari/Oak Ridge Today)

A new company co-founded by Greg LeMond, a three-time Tour de France champion, will make composite bicycles and carbon fiber for other products in Oak Ridge, and the business, called LeMond Composites, will invest $125 million and create 242 new jobs, officials said during a Wednesday afternoon ceremony.

Among the officials celebrating the opening on Wednesday were LeMond, and Tennessee Economic and Community Development Commissioner Randy Boyd.

Carbon fiber has advantageous properties, but cost has been a barrier to using it, said Connie Jackson, chief executive officer of LeMond Composites. She said the manufacturing process has been changed to reduce production cost.

“We have overcome a significant part of the cost barrier,” Jackson said.

Carbon fiber is light, stiff, and strong, making it the perfect material for advanced composites in a variety of applications. It can be used to improve efficiency, save energy, and build or repair vehicles and planes, wind turbines and containers, and bridges and tunnels. [Read more…]

Oak Ridge supports ORNL, LeMond Composites carbon fiber partnership

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Jones LeMond Watson and Creswell Aug 31 2016

Pictured above at a meeting on Wednesday, Aug. 31, 2016, on a new carbon fiber partnership between Oak Ridge-based company LeMond Composites and Oak Ridge National Laboratory are, from left, Steve Jones (Oak Ridge economic development consultant), Greg LeMond (LeMond Composites), Mark Watson (Oak Ridge city manager), and Wade Creswell (president of The Roane Alliance). (Photo by City of Oak Ridge)

 

By City of Oak Ridge

The City of Oak Ridge is proud to support the recent announcement that LeMond Composites, a new company in Oak Ridge offering solutions for high-volume and low-cost carbon fiber, has secured a licensing agreement with Oak Ridge National Laboratory.

The news was made public on August 29 in a release from LeMond Composites. The company, founded earlier this year by three-time Tour de France champion Greg LeMond, focuses on making carbon fiber composites with global applications. The agreement with ORNL will make LeMond Composites the first company to offer these newly developed products to the transportation, renewable energy, and infrastructure markets.

LeMond Composites plans to build their first carbon fiber production line at their recently purchased facility on Palladium Way at Horizon Center in west Oak Ridge. Their first commercially available product is expected to be ready in early 2018.

“I am ecstatic about this unique technological application for carbon fiber in our community,” Oak Ridge Mayor Warren Gooch said. “We look forward to working with LeMond Composites to create jobs and further investment in Oak Ridge.” [Read more…]

LeMond, Tour de France champion, plans production in Oak Ridge, thinks area could be world hub for carbon fiber

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Greg LeMond at the Carbon Fiber Technology Facility

Three-time Tour de France champion Greg LeMond, right, chairman and co-CEO of LeMond Companies, which owns LeMond Composites, tours ORNL’s Carbon Fiber Technology Facility. (Image courtesy of Oak Ridge National Laboratory, U.S. Department of Energy)

 

A new carbon fiber company that includes three-time Tour de France champion Greg LeMond plans to build a carbon fiber production line in west Oak Ridge to make composites for use in transportation, renewable energy, and infrastructure, and LeMond thinks the Knoxville area will become the world hub for carbon fiber.

The new company, LeMond Composites, has signed a licensing agreement with Oak Ridge National Laboratory, and it has purchased the former Theragenics building at Horizon Center, where CVMR, an international company that uses ore concentrates to create pure metal powders, had once planned to locate its headquarters and research and development.

LeMond Composites closed on the property, which includes about 21 acres, on July 21 for $5.4 million. It’s right next to ORNL’s Carbon Fiber Technology Facility, or CFTF, at Horizon Center. Renovations at the former Theragenics building are already under way.

Carbon fiber is light, stiff, and strong, a press release said. That makes it the perfect material for advanced composites in a variety of applications, including transportation, renewable energy, and infrastructure, the release said. It can be used to improve efficiency, save energy, and build or repair vehicles and planes, wind turbines and containers, and bridges and tunnels.

But the biggest obstacle to its widespread use has been its high cost. [Read more…]