AIMPLAS, the Plastics Technology Centre, and REDIT Ventures, a specialized investment vehicle sponsored by the eleven REDIT Technology Institutes that make up the Network of Technology Institutes of the Valencian Community (REDIT), have launched LOFITH COMPOSITES, a new technology company focused on developing long-fibre reinforced thermoplastics (LFTs) composites.The company’s business plan envisions income of €5 million and the creation of more than 25 jobs for highly skilled workers in the first few years after launch. The new company will focus on designing and creating long-fibre reinforced thermoplastics pellets (LFTP) and UD-tapes for the automotive, aerospace and construction industries, and for rail construction. Because of their low weight, strength and recyclability, LFT composites are perfect for a wide range of applications.