FOR IMMEDIATE RELEASE
Terraphene Secures Investment from the Nucleus Fund to Scale Hemp-Based Materials Manufacturing in Utah
Partnership will create rural manufacturing jobs and support water conservation efforts tied to the Great Salt Lake
SALT LAKE CITY, Utah — September 3, 2026 — Today the Nucleus Institute announced an investment from the Nucleus Fund, its early-stage venture arm, in Utah-based Terraphene, a material technology company developing hemp-based alternatives to plastic, wood, metal, and concrete. The investment will support Terraphene’s plans to scale its manufacturing and processing footprint across Utah.
Terraphene supplies a proprietary core material to manufacturers, who use it to produce and distribute finished products. The company’s first commercial application is a multi-year pallet supply contract with two of the largest pallet manufacturers in the United States.
Founded by two Utah-rooted brothers with nearly a decade of experience in the hemp industry, Terraphene chose to build in Utah as a matter of both commitment and opportunity.
“Terraphene is choosing Utah because this is our home, and it offers us the opportunity to maximize our impact on both the economy and the environment,” said Daniel Webster, Founder and CEO of Terraphene. “This partnership with Nucleus gives us the capital and the network to scale our manufacturing footprint here, creating high-value jobs, most of which will be in Utah’s rural communities.”
The Nucleus Fund’s investment reflects its mandate to back deep-tech ventures that can create new industries and high-value jobs in Utah. The Nucleus team sees particular promise in Terraphene’s potential to grow rural manufacturing while giving farmers a viable, lower-water alternative to traditional crops, an opportunity Nucleus views as directly relevant to the long-term health of the Great Salt Lake.
“This is exactly the kind of investment the Nucleus Fund was built to make,” said Angela Smith, COO of Nucleus and Managing Director of the Nucleus Fund. “Terraphene’s materials platform has the potential to create a new manufacturing ecosystem in Utah, and we are proud to support the company as it scales its technology and creates jobs across the state.”
“What excites us about Terraphene is how many parts of Utah’s economy this touches at once,” said Kristin Wihera, Director of Fund Operations at the Nucleus Fund. “It’s rural manufacturing jobs, it’s a new source of stable income for farmers, and it’s a real opportunity to reduce the water use that’s putting pressure on the Great Salt Lake.”
As part of the investment, Terraphene will draw on Nucleus’s network to connect with manufacturers, researchers, and downstream partners across Utah, building toward a durable manufacturing base capable of serving national and global markets. Nucleus also sees strong potential for Terraphene to generate meaningful financial returns, helping sustain the Nucleus Fund’s evergreen model so it can continue backing the next generation of Utah-grown deep-tech ventures.
Terraphene’s technology also stands to help address two of Utah’s biggest challenges: housing affordability and water sustainability tied to the Great Salt Lake. By enabling local production of building materials, the company can reduce reliance on imported lumber and concrete. And by offering farmers multi-year contracts with predictable pricing, Terraphene gives them a stable alternative to higher water-demand crops, reducing agricultural water use upstream before it would otherwise be diverted from reaching the lake.
About Terraphene
Terraphene is a Provo, Utah–based material technology company developing advanced plant-based biomaterials that can replace plastic, wood, metal, and concrete. Its first commercial materials are derived from hemp biomass and supplied as a proprietary core material to manufacturers for industrial and construction applications, including contracts with leading U.S. pallet producers. The materials are engineered to match or exceed traditional materials on strength, durability, and fire and water resistance at competitive cost. Terraphene is building a domestic, sustainable material technology platform in the United States, with all materials produced in the USA, led by founders with deep roots in Utah’s agriculture and technology ecosystems.
About the Nucleus Institute
The Nucleus Institute is a quasi-public 501(c)(3) that supports the commercialization of deep-tech ventures in Utah. Nucleus operates the Nucleus Fund, a $40 million evergreen venture fund, and provides grants and commercialization support to help entrepreneurs and researchers turn ideas into reality in Utah.
Media Contact
Cam Dionne
Director of Marketing, PR, & Events, The Nucleus Institute
cam@nucleusutah.org
424-333-1307