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Home / News / Infinited Fiber gets €3.7 mn funding from investors

Infinited Fiber gets €3.7 mn funding from investors

19
Apr '19
Pic: Infinited Fiber
Pic: Infinited Fiber
Infinited Fiber Company (IFC), a company offering carbon neutral fibre regeneration technology for textile and nonwoven industries, has raised €3.7 million in funding from investors like H&M group, Fortum and Virala. IFC is currently running a 50-ton pilot plant in Finland and plans to increase its annual capacity up to 500 tons to meet growing market demand.

The pilot plant was started up for production of next generation sustainable textile fibre in March 2018 and is selling solutions to several leading global brands. The sale of the first licensed commercial plant with a capacity of 25,000 tons is scheduled for 2020-2021, said a press release from the company.

“I’m very proud that we have created a technology that enables textile waste to be used over and over again by producing a strong, sustainable fibre without compromising quality and comfort. We are delighted to welcome the global fashion retailer H&M Group, as well as Fortum, a leading clean energy and resource efficiency company, and Finnish investment company Virala, to be our new partners in closing the loop for textiles,” says Petri Alava, CEO of IFC.

“We’re excited about the partnership with Infinited Fiber Company. Their innovation aligns perfectly with the H&M group’s sustainability goals and our vision to become fully circular. Infinited Fiber has proven significant potential to accelerate the journey from a linear to a circular fashion industry. We look forward to being part of developing and scaling this technology in the coming years,” said Erik Karlsson, investment manager for sustainable fashion at H&M group’s investment arm Co:lab.

“Fortum is studying possibilities to grow business that is based on the more efficient use of biomass. We believe strongly in biorefining, new technologies and their role in a more sustainably produced textile fibre,” said Heli Antila, head of Fortum’s business focusing on bio-based solutions.

“A problem in the textile industry is the growing demand for cotton that simply isn’t available. We have proven that for example in denim applications, the commercial quality requirements can be reached with our Infinited Fiber. The global denim industry is pushing us to bring our solutions to the market. Our reborn Infinited Fiber is re-usable forever, carbon neutral and applicable like natural cotton without any microplastics harming the environment,” said Alava.

Infinited Fiber technology can turn textile, cardboard and agricultural waste to new and better cotton – infinitely. In addition to cotton rich textile waste, the Infinited Fiber manufacturing process can use most material containing cellulose, e.g. recycled paper, cardboard and agricultural waste such as straw – nevertheless the reborn fibre will be the same. Properties of the Infinited Fiber include a natural soft look and feel, consistent proven quality, 30-40 per cent better colour uptake than competing fibres, it’s antibacterial and bio-degradable and has excellent moisture absorption qualities. In addition, it has a total cost competitiveness in the textile production supply chain.

The business model of IFC is to license the Infinited Fiber technology for global fibre producers in textile and nonwoven industries. The end-use applications include fashion, disposable personal care products (e.g. wipes, diapers, pads) and technical products (e.g. automotive filters, dairy, construction applications). The production process is protected by several patents in key market areas. (PC)

Fibre2Fashion News Desk – India

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