1. As fashion consumption keeps growing, the industry is going circular
The global middle class will grow by almost two billion people in this decade, leading to a significant increase in demand for textiles. Unless something is done, that consumption increase will cause devastation to climate and the environment. As a response to growing pressures from consumers, NGOs, governments and financial markets, hundreds of fashion brands have set hard targets for increased recycling and reduced impact. Unsustainable is unfashionable and the industry is desperate for solutions.
2. Renewcell’s unique and patented innovation is ready to be scaled to meet the demand
Renewcell offers a new raw material for textile production that replaces resource-intensive fibers such as cotton and polyester. The company’s patent protected industrial scale process technology, developed by world-leading scientists at KTH Royal Institute of Technology, transforms 100% textile waste into a branded ‘dissolving pulp’ product called Circulose®. It is a drop-in product to the existing textile industry value chain for regenerated cellulose fibers like viscose or lyocell. Circulose® is unique because just like that, fashion brands can go 100% circular without compromising on quality, price or scale.
3. Strong customer and brand partnerships are in place
Renewcell has proven its capacity to deliver circular materials that meet the stringent quality standards in each step of the industry value chain, from a pile of worn-out jeans to luxurious dresses available in retail globally. On the strength of that proof, Renewcell has now signed solid multi-year offtake agreements for its product, contracted for long term raw material availability and secured a world class brownfield production site. The stage is set for growth.
4. An experienced Management Team committed to delivering on Renewcell’s goals
The team tasked with building Renewcell into a leading sustaintech company draws on decades of experience in scaling up businesses and managing industrial processes, particularly within pulp and paper. The team is fully committed, as employees and investors themselves, to make fashion sustainable by building a world leading industrial business.
In February 2022, Renewcell decided, based on increased customer interest to add the target to achieve a production capacity of 120,000 tonnes by the by the end of 2023 early 2024. The decision will have a positive impact on the Company’s current operational and financial targets and, as a result, these targets are currently under review.