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23 September, 2016 - No Comments!

Fouriertransform and Girincubator invests in Circular textile company re:newcell

Fouriertransform, the Swedish government owned investment company, together with the private investor Girincubator, today announce a SEK 48 million investment in the Swedish innovation company re:newcell. The investment is used to build the world’s first production line for textile pulp from recycled textiles. Thus making 100% Circular garments a reality.

 Berlin Ethical Fashion Show Jersey Dress renewcellsödra

Picture: Berlin Ethical Fashion Show 2016, Jersey Dress manufactured with re:newcell/Södra pulp in collaboration with Textiles Back to Textile and design by Ina Budde

 

With new consumption patterns and an evolving middle class, especially in Asia, the increasing production of textiles is one of the largest global environmental challenges. With the increasing shortage of cotton on the market, oil-based textiles, such as polyester, are filling the gap of demand. Such oil-based synthetic fibres emit large amounts of greenhouse gases and are not bio-degradable. Therefore, it is important to recycle the existing resources to decrease the textile industry’s environmental impact.

Today, only a small portion of textiles are re-used and an even smaller portion recycled. If 1kg of clothing were to be reused instead of produced from virgin sources, it would save 3,6kg carbon dioxide, 6000 litres of water and 0,3 kg of fertilising chemicals and 0,2kg of insecticides.

Through re:newcell’s patented process, the environmental impact from the textile industry can be drastically reduced by recycling cellulosic based textiles, such as cotton and viscose. This will also reduce transport distances, allow more land for food production and reduce waste.

The SEK 48 million investment from the government-owned Fouriertransform and private owned Girincubator, is now used to build the world’s first production line for textile pulp from recycled textiles in Kristinehamn, Värmland.

Re:newcell is fully in line with Fouriertransform’s strategy to invest in world-class manufacturing industry with high innovation and opportunity for global growth. The technology represents a potentially important future circular solution to responsibly manage the challenge to meet the growing world demand for cotton textiles, which is a limited resource for the fashion and textile industry." says Per Aniansson, Investment Director Fouriertransform.

"The goal with re:newcell is to be part of creating a modern textile industry with resource- efficient processes and materials. It is with great pleasure that we take the next step in its development, with a first production line and a very strong ownership." says Malcolm Norlin, co-founder of re:newcell and Chairman of Girincubator.

The technology originates from research and development by Prof. Mikael Lindström, Prof. Gunnar Henriksson and Dr. Christofer Lindgren, of KTH in Stockholm.

For further information

Per Nordberg, CEO, Fouriertransform AB, +46 8 410 40 601
Per Aniansson, Investment Director, Fouriertransform, +46 708 66 04 29
Henrik Norlin, Girincubator and Director of the Board with re:newcell AB, +46 739 89 88 95

Fouriertransform is a state-funded venture-capital company that, on commercial grounds, supports innovative companies and entrepreneurs that can contribute to vitalising the Swedish manufacturing industry. The company has an investment framework of SEK 3 billion and in addition to providing capital, also provides well-qualified employees and a network of experts.
www.fouriertransform.se

Girincubator AB is a family owned investment company focusing on innovative companies with significant global potential within sustainable businesses, typically based on cellulose. The team has a long and successful track record in developing such products, solutions and companies for the world market. Girincubator is based in Stockholm.

About re:newcell
Re:newcell AB is a Swedish innovation company within sustainable textile recycling. The main focus is recycling of cotton and other cellulose-based materials. The company is now building the world's first production line for textile pulp from recycled textiles in Kristinehamn. Globally, there are about 29 million tons of cellulose-based fibre to recycle globally every year. re:newcell’s ambition is to bring such fibre to the value chain so as to create a circular fashion and textile industry.

For high resolution press images, please see http://renewcell.se/wp-content/uploads/2016/04/Berlin-Ethical-Fashion-Show-Piquet-Jacket-renewcellsödra.jpg