Solstice Advanced Materials to invest +$220M in fiber manufacturing facilty

Solstice Advanced Materials (SOLS) plans to invest more than $220M in multiple projects to expand production at its existing ballistic fiber manufacturing facility in Colonial Heights, Chesterfield County, Virginia, which is also expected to create 100 new full-time jobs in the region by 2029. The Colonial Heights facility produces Spectra fiber and composite materials used in helmets, vests, vehicle armor and naval applications, along with an array of industrial applications. Through its investment, Solstice will enhance its facility with new fiber spinning, composite coating and analytical capabilities. Construction and equipment installation are expected to occur between 2025 and 2029, with operational benefits expected to ramp through the projected completion date of Sept. 30, 2030. The Virginia Economic Development Partnership, in coordination with Chesterfield County, supported the project through the Virginia Investment Performance Grant. Additionally, Governor Glenn Youngkin approved a $1.5M grant from the Commonwealth’s Opportunity Fund and a $2M performance-based Virginia Investment Performance Grant to assist Chesterfield County with the project.