E-Leather has raised £70m from new and existing investors, funding which it will use to invest in a new state-of-the-art factory.
The Peterborough firm, which manufactures its innovative leather material of the same name, has entered into a long-term partnership with Nike to introduce a new material called Nike Flyleather for footwear and apparel.
It is made from at least 50% recycled leather fibres, and is lighter and more durable than leather.
E-Leather is expecting major growth across the aviation, transport and consumer sectors.
