infinited fiber company raises 30 million euros

Infinited Fiber Company raises 30 million euros

Sumary of Infinited Fiber Company raises 30 million euros:

  • Circular fashion and textile technology group Infinited Fiber Company has secured investments totalling 30 million euros in its latest financing round completed on June 30, with backing from Bestseller and Adidas…
  • The Finnish textile technology group said that new investors included sportswear company Adidas, Invest FWD, the investment art for Bestseller, and investment company Security Trading Oy…
  • They join existing investors fashion retailer H&M Group, the lead investor, investment company Nidoco AB, and Sateri, the world largest viscose producer and a member of the RGE group of companies, who also contributed to the financing round…
  • This new funding follows Infinited Fiber Company announcement in April to build a flagship factory in Finland in response to the strong growth in demand from global fashion and textile brands for its regenerated textile fibre Infinna…
  • The factory, which will use household textile waste as raw material, is expected to be operational in 2024 and to have an annual production capacity of 30,000 metric tons…
  • Infinited Fiber Company co-founder and chief executive, Petri Alava, said in a statement: “We are really happy to welcome our new investors and grateful for the continued support from our older investors…
  • “These new investments enable us to proceed at full speed with the pre-engineering, environmental permits, and the recruitment of the skilled professionals needed to take our flagship project forward…
  • We can now also boost production at our pilot facilities so that we can better serve our existing customers and grow our customer-base in preparation for both our flagship factory and for the future licensees of our technology.” Image: courtesy of Infinited Fiber Company Adidas and Bestseller investment arm Invest FWD invest in textile-to-textile technology Katja Schreiber, senior vice president of sustainability at Adidas, added: “Our intensified cooperation with Infinited Fiber Company forms part of our strategic ambition to have nine out of ten articles made from sustainable materials by 2025…

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