CarbonX was founded in Salt Lake City, Utah in 1998. The company manufactures and sells a carbon fiber-based, patented, non-flammable, fire resistant textile.

CarbonX fabrics are based on patented blends of high-performance fibers that will not ignite, burn, char, shrink or significantly decompose when exposed to intense flame, molten metal, arc flash or high heat. Even after intense exposure, CarbonX maintains its integrity and continues to protect. Widely used in protective apparel in car racing, industrial, fire fighting and tactical markets, CarbonX fabrics also have application in shielding property from the hazards associated with direct flame. These capabilities are why CarbonX is the best non-flammable fabric on the market today.

Banyan Ventures made an initial investment in CarbonX and assumed management control in March of 2003. Banyan has recapitalized the company, put in place an entirely new management team to support the growth strategy, and helped to develop and refine the manufacturing, marketing, sales, distribution, and administrative processes. CarbonX has grown significantly and has been identified as one of Utah’s fastest growing companies for the last three years by the Mountain West Capital Network.