Singapore-based RGE Pte Ltd (RGE) joined a group of investors including H&M Group, Virala and Fortum to
help Infinited Fiber Company Oy (IFC) scale up its technology that turns
textile waste and other pulp-based materials into new textile fibers. A
strategic co-operation agreement was also signed between RGE and IFC to commercialize
the startup’s technology.
Since early 2018, IFC has been operating a
50-ton per annum pilot plant in Espoo, Finland, that produces Infinited Fiber
for testing purposes with global brand owners such as H&M, VF Corporation
and their manufacturers.
Recently, the company leased production
facilities in Valkeakoski city, Southern Finland, for a new pre-commercial
500-ton per annum plant and customer training centre that will start up in
early 2020.
“This new investment amount, the largest single IFC has received to
date, supplements the earlier partnerships with H&M Group, Virala and
Fortum, we announced in April this year. We are delighted to have RGE on board
as a strategic partner as we can apply what we learn from their global
operations to accelerate our plan to bring our technology to large-scale
manufacturing,” said Mr Petri Alava, CEO of IFC.
He added that the new
financing will enable the company to finalize
the scaling of the technology and to extend its fiber production capacity to enable global leading brands to bring
capsule collections to the markets in 2020.
“RGE is keen to support
innovative next-generation solutions that can be applied at industrial scale.
IFC’s technology is exciting as it brings together the use of recycled
feedstock and clean solvent in a circular fashion to produce fibres. Our
viscose business groups, Sateri and Asia Pacific Rayon, collectively produce
about 1.4 million tons of viscose annually using raw materials from renewable
plantations. As a leading viscose producer, we strive to continually seek solutions
to improve the sustainability performance of our manufacturing practices and
products,” said Mr Tey Wei Lin, President of RGE.
IFC has raised €8 million of funds
this year, including €1.96 million awarded by the European Innovation Council (EIC)
recently.