Circulose’s Post

More important news in fashion sustainability, from the Altor Equity Partners / Vargas Holding (Syre ) sphere. It’s a huge and complicated problem space where recyclability of materials is a one of many key building blocks.

The four year program ‘Circulair Textiel Twente’ has come to an end. The partnership is a regional collaboration between Stichting TexPlus-partners and is supported by Regio Deal Twente. 🗓️On Tuesday 30th January we’d like to share the inspiring results of this program with you.    ♻️🌐 The ‘Circulair Textiel Twente’ program aims to stimule collaboration in the region and accelerate innovation. More specifically the goals for TexPlus partners are; increase the volume of collected and sorted used textiles, improve textile recycling and testing and validating new business models in the field of circular textiles. Erik van der Weerd, CEO of SaXcell, one of the TexPlus partners, will highlight SaXcell’s progress in recycling used textiles to high quality new yarns which have become available for commercial use. 👇 if you want to join please subscribe here: 👇 https://lnkd.in/e4PPB_7F #CircularTextileTwente #Sustainability #Innovation #TexPlus #Recycling #FutureOfTextiles #GreenFuture

BlockTexx had a busy and very productive European trip. Co-Founders Graham Ross and Adrian Jones spent two weeks visiting engaged policy makers, manufacturers, extruders, spinners, sorters, brands and investors across the UK, Austria, Belgium and The Netherlands. Several key take aways for us: 1. Legislation is advancing rapidly in Europe regarding sorting, export and recycling textiles. If it is consumed in Europe it needs to be recycled in Europe. We hope to see this leadership in Australia at a policy level. 2. Clients were impressed that BlockTexx has built real scale in the recycling of post consumer garments. Most recycling is still in the post industrial area, which is a disconnect with its collection. Consumers will expect that their collections are actually being recycled on-shore and not exported? 3. There is increasing willingness to adjust established manufacturing processes to ensure quicker uptake of recycled material, especially rPET. This is a very positive move by the industry and we need to collaborate more. 4. Collaboration is key for success. The technical skills required to 'unscramble the textile omelette' are very high. One business alone cannot do it. There was a real understanding and a maturity of thinking about building meaningful and successful partnerships. More to come in this space. #textilerecycling #onshore

We have a plastic problem.   Our use of plastic is increasing and is projected to double worldwide by 2040.   Enter Samsara Eco and their #InfiniteRecycling technology: able to break down plastic to its original components regardless of shape, colour or size.   The CEFC has invested $9.1 million to support this exciting innovation. Want to know more? Read our case study.   Virescent Ventures #circulareconomy   https://lnkd.in/grciJeqp

A bit slow to post this, but I was excited to see the re-emergence of Renewcell under a new name, Circulose - the name of its main product, an upcycled textile material made from castoff cotton clothing scraps. Its new owner Altor Equity Partners , are private equity players with some weight behind them - €11bn AUM and a portfolio of investments which have sustainability embedded in their business model. More often than not, private equity gets a bad rap (and not unjustly in many cases). Unlike venture, where VCs focused on sustainable technologies and approaches are becoming more common, its rare to see private equity aligning with sustainability in this way - in part because there are fewer startups making it through Series A & B, and because the catalysts for innovation have only really started to shape the circular economy landcape in the last 5-10 years. So it's brilliant to see Altor taking on Circulose, who may now be able to properly scale at last! #circulareconomy #recycling #textiles #investment

Does the Bankruptcy of Renewcell Signal a Downfall for Impact-Oriented Companies? 📉 The recent bankruptcy of Renewcell, a pioneering firm in #sustainablefashion, poses a critical question about the viability of impact-oriented companies in today’s market. Despite its innovative approach to recycling textiles, Renewcell faced significant challenges that led to its downfall. Here’s what we can learn from their story: Key Insights: ◾ Innovation vs. Scalability: Renewcell's groundbreaking product, Circulose, aimed to transform fashion sustainability by recycling waste cotton into new fibers. However, scaling up their innovative processes proved challenging amidst high operational costs and slow adoption rates in the conservative fashion industry. ◾ Market Readiness: The market's slow adaptation to new, sustainable technologies played a crucial role in Renewcell's struggles. This highlights a gap between technological innovation and market demand that many green startups might face. ◾ Financial Sustainability: Balancing sustainability with financial viability remains a critical hurdle. Renewcell’s experience underscores the need for robust financial strategies that support long-term growth and innovation without compromising on impact. Moving Forward: Renewcell’s story is not just a tale of caution but also a beacon of learning. It underscores the urgent need for supportive ecosystems that include flexible funding models, consumer education, and policies that encourage sustainable practices. The journey of impact-oriented companies is fraught with challenges, but each setback offers vital lessons that can pave the way for future successes. Let's discuss how we can build resilient businesses that thrive on #innovation and #impact. Read more about Renewcell's journey in the latest Bloomberg article: https://lnkd.in/ewajMCjq or in my #ThoughtsofaCEO Series from last week, where I dived into this topic: https://lnkd.in/ed5e4hj7 What do you think are the key factors for the success of impact-oriented companies in the #fashionindustry ? Let's discuss. #SustainableFashion #BusinessResilience #Innovation

👕 Congratulations to Xefco for securing A$10.5m in its latest funding round 👚 Investible is proud to back Xefco via our Climate Tech Fund, following our initial investment in 2023. 👏 Co-founded in 2018 by Tom Hussey and Brian Conolly, Xefco’s latest technology, Ausora, is revolutionising the textile finishing and dyeing process which has historically been responsible for 20% of global industrial water pollution and 3% of global carbon emissions. 💦🏭 Utilising an advanced plasma coating process, this new patented invention offers a water-free manufacturing solution to the dyeing and finishing of fabrics without sacrificing quality. Investing alongside Investible are lead investors Main Sequence, with participation from Breakthrough Victoria, Virescent Ventures, investing on behalf of the Clean Energy Finance Corporation and existing shareholders VOYAGERS.io Climate-Tech Fund. 🌱 Read more about the investment round here: https://lnkd.in/gb8NEJem #startupaus #climatetech #fundingnews Ben

This 3-year offtake agreement demonstrates brand and innovators’ support to meet the growing consumer demand for high-quality next-gen materials.🎉 MAS Holdings, a global apparel manufacturing and tech conglomerate, and Ambercycle, a materials science company, partnered to scale Ambercycle’s circular polyester material, cycora®. This collaboration aligns with MAS’s goal to derive 50% of its revenue from sustainable products by 2025. cycora® is made through proprietary molecular regeneration technology and yields the same quality as virgin-grade materials while lowering greenhouse gas emissions and reducing dependency on landfilling or incinerating end-of-life textiles. “Supply-chain partners play a crucial role in advancing our work to decarbonize fashion and minimize the impact of raw-material extraction on our environment,” added Shay Sethi, Ambercycle Co-founder and CEO. “We’re pleased to share our work with MAS as one of the premier manufacturing partners in the global apparel ecosystem. Together, we share a strong commitment to diverting textiles from landfills and pioneering circularity at scale.” #Materialinnovation #Nextgenmaterials #Sustainability #Textiles #Partnership #Circularity

Renewcell aims to build investor confidence in the sector’s readiness for circularity, calling out to brands to commit buying CIRCULOSE®. They have until March 21st to receive Letters of Interest. Now or never…give Renewcell a try. Give the future a chance (and change). #supplychain #fashionindustry #sourcing #textilesourcing

Exciting news alert! Today Syre announces the signing of a $100 million Series A. The funding round was led by founding investor TPG Rise Climate who was joined by an additional investment from founder H&M Group as well as the following strategic partners: Giant Ventures, IMAS Foundation, Norrsken VC and Volvo Cars. We are thrilled that some of the most ambitious investors globally are joining our quest to lead the great textile shift! And to witness their commitment to drive the green transition of the textile industry across our key target industry verticals; apparel, automotive, and interior. This equity funding allows us to finance the construction of the blueprint plant in the U.S. as well as preparations for the establishment of our first two gigascale textile-to-textile recycling plants. Following a global site selection process, we have shortlisted Vietnam and Iberia as the locations for our first two plants. The specific site selection process now continues with the goal of starting the construction process in 2025. This equity funding further enabled us to fully acquire the patented technology that is the centerpiece in the Syre textile-to-textile recycling solution. We are proud that the North Carolina-based company Premirr and its founders are now fully integrated into Syre as we continue to scaling the team and company. Read more here: https://lnkd.in/gPs5GMjB