Reinforcing recycling, rerouting refuse, and reducing wasteflows

Waste Recovery & Management Tech

Based in London, Worn Again provides recycling solutions to eliminate textile wastes. It recycles polyester and polycotton textiles and PET plastic bottles into their raw materials for circular use. The company utilizes a proprietary chemical recycling technology that separates, decontaminates, and extracts the polyester and cellulose from cotton non-reusable textiles and bottles.As of March 2024, the company was in pilot-scale operations and constructing its demonstration plant, aiming to prevent up to 1,000 tonnes of textiles from being incinerated annually, expected to be online by 2024. The company plans to launch commercial plants by 2027, converting up to 50,000 tons of used textiles into polyester.Key customers and partnershipsIn December 2020, Worn Again partnered with Sulzer and H&amp;M Group to develop a demonstration plant for textile recycling and scale up the closed-loop recycling process. The company has partnered with brands like ASICS Europe (sportswear), Sympatex (outdoor textiles), Dibella (linen) and Dhana (garment) to supply its recycled raw materials. In October 2023, Worn Again joined the Alliance of Textile Chemical Recyclers (<a href="https://sp-edge.com/updates/22920">ACTR</a>) to initiate educational, outreach, and engagement opportunities for companies in the industry.Funding and FinancialsIn <a href="https://sp-edge.com/updates/13644">October 2022</a>, Worn Again raised GBP 27.6 million (~USD 30.57 million) led by strategic partners Sulzer and H&amp;M for the construction of a large-scale demo plant in Switzerland that can upcycle upto 1,000 tons per year.

Renewcell is a Swedish startup that uses a patented process to upcycle cellulosic textile waste into a new material called Circulose, which is a dissolving pulp product. The pulp ​​is used to make viscose, lyocell, and other types of “man-made cellulosic fibers,” which generally use wood pulp as raw material. The manufacturing process is stated to use 99% less water than conventional cotton yarns. Renewcell began trading on Nasdaq in 2020.As of March 2024, the company operates a plant at Sundsvall (Renewcell 1), with a production capacity of up to 60,000 metric tons of its “Circulose” recycled textile per year, with plans to double the capacity to 120,000 metric tons at a later stage.In February 2024, Renewcell announced plans to file for <a href="https://sp-edge.com/updates/26943">bankruptcy</a> following an inability to secure adequate financing to complete its strategic review, which began in November 2023. In <a href="https://sp-edge.com/updates/30324">June 2024</a>, ​​Swedish private equity firm Altor acquired the company’s remaining assets. The company will continue operations under the "Circulose" moniker, which is the name of its dissolving pulp product.Key customers and partnerships• In June 2022, Renewcell partnered with HeiQ AeoniQ and the Danish luxury brand Ganni to use 15% Circulose in yarn production and a new pant collection respectively.• In March 2022, Renewcell also partnered with Daiwabo to supply textile fibers made using Circulose to global fashion brands.• In March 2023, the company signed a letter of intent with <a href="https://sp-edge.com/updates/17376">China Textile Academy (CTA) Green Fibre</a>, to supply lyocell textile fibers made using Circulose to global fashion brands.• Later in May 2023, the company partnered with <a href="https://sp-edge.com/updates/18620">TextileGenesis</a> to trace Renewcell's Circulose throughout the entire textile supply chain.• In August 2023, the company partnered with <a href="https://sp-edge.com/updates/21318">Loftex</a>, and <a href="https://sp-edge.com/updates/21318">SCRAP</a>, to launch a pilot program to manufacture towels from Circulose with a minimum of 15% recycled content.• In July 2023, the company launched the <a href="https://sp-edge.com/updates/19929">Circulose Supplier Network</a> with 47 manufacturers in Europe, Asia, and North America, expanding to <a href="https://sp-edge.com/updates/22497">116 producers</a>, including Vietnam, Taiwan, and the Czech Republic in October 2023.• In September 2023, Renewcell partnered with <a href="https://sp-edge.com/updates/21827">Spinnova</a> to commercialize textile waste-based fiber.• In September 2023, the company partnered with <a href="https://sp-edge.com/updates/21470">Yibin Grace</a> to integrate Circulose into recycled textiles, and in October 2023, the two companies launched a denim collection with <a href="https://sp-edge.com/updates/22726">Advance Denim</a>.• In October 2023, Renewcell partnered with <a href="https://sp-edge.com/updates/22548">Arvind</a> to produce denim using the former's Circulose pulp.• In October 2023, the company also entered into a supply agreement of 2,000 tons of Renewcell's Circulose fiber for <a href="https://sp-edge.com/updates/23201">Inditex</a>.Funding and financialsIn December 2023, Renewcell secured loans totaling SEK 100 million (~USD 11.4 million) provided by two of its major shareholders, H&amp;M Fashion and Girincubator, and existing lenders. Renewcell planned to use the funding to manage its liquidity requirements over the coming months while seeking long-term financing.The company generated ~SEK 12.6 million (~USD 2,800) in net sales and ~SEK 252.0 (~USD 120,700) in operating losses before depreciation and amortization (EBITDA) during 2022.

re: newcell has developed a patented process for recycling cellulose-based textiles, such as cotton and viscose. With re: newcell's recycling process, environmental impact from the textile industry could be drastically reduced. The process would also reduce transport, waste and increase access to water and cultivable land for food production.

Worn Again Technologies develops a polymer recycling technology to create waste-free textile circular materials. Its disruptive, game-changing chemical textile-to-textile recycling technology can break down and recapture the raw materials in old clothing and textiles to be reintroduced into the supply chain as new.

Ivyrevel is a digital fashion house, tailored for our GENERATION.  They are inspired by urban contrasts, STRONG independent women and by the contemporary now. Drawn by opposites, we’re mixing both uptown and downtown in our collections. Their style is POLISHED, loud and extrovert with feminine silhouettes and ample amounts of attitude. Attention to visual details is of great importance since we value design that makes us look stunning both ONLINE and offline.

THE NEW STANDARD HAS ARRIVED. Wrapp is The New Standard for rewarding purchases and customer loyalty. The end to an era of irrelevant advertising and outdated memberships.  Wrapp connects to our users’ payment cards, and analyzes transactions to learn their buying behavior. This way, our users only get rewards from brands they're interested in. And by sticking to cashback returns, we make sure they get rewards they actually find useful. Simply put, we put purchasing power in the hands of consumers, and meaningful marketing in the hands of brands.

H & M Hennes & Mauritz AB (H&M) is a Swedish multinational retail-clothing company, known for its fast-fashion clothing for men, women, teenagers, and children. H & M Hennes & Mauritz AB comprises six independent brands: H&M, COS, Monki, Weekday, Cheap Monday and & Other Stories. H&M’s design team creates sustainable fashion for all, always at the best price. The collections include everything from dazzling party collections to quintessential basics and functional sportswear – for women, men, teenagers and children, and for every season or occasion. In addition to clothes, shoes, bags, jewelry, makeup, and underwear there is also H&M Home – fashionable interiors for children and adults.

<div> H&amp;M (STO: HM-B), formally known as H &amp; M Hennes &amp; Mauritz AB, is a Swedish multinational clothing company headquartered in Stockholm, Sweden. Founded in 1947 by Erling Persson, H&amp;M has grown to become one of the world's largest fashion retailers. For the 2023 financial year, H&amp;M reported net sales of SEK 236.035 billion (USD 22.69 billion). H&amp;M offers a wide range of products including clothing, accessories, footwear, cosmetics, and home goods for men, women, teenagers, and children. The company operates under several brands including H&amp;M, COS, Monki, Weekday, &amp; Other Stories, and ARKET. H&amp;M's business model is based on &quot;fast fashion&quot;, offering trendy and affordable clothing to consumers. The company aims to make fashion accessible to everyone while also focusing on sustainability and circular fashion practices. H&amp;M has an extensive retail network with over 4,000 stores across more than 70 markets globally and offers online sales in 60 markets. In recent developments, H&amp;M announced in January 2024 that CEO Helena Helmersson was stepping down after four years in the role, to be replaced by Daniel Erv&eacute;r. The company has been facing increased competition from rivals like Zara and online fast fashion retailers. H&amp;M is focusing on enhancing profitability rather than pure sales volume, with a goal of reaching a 10% operating margin by 2024. The company is also continuing to invest in sustainability initiatives, aiming to reduce greenhouse gas emissions across its value chain by 56% by 2030 and achieve net-zero climate impact by 2040. </div>

Buybacks of shares by H&M during week 43, 2024

H&M Group Ventures

Earth-friendly biotech solutions for the textile, packaging and construction industries.

Bio-based Materials

Developers of materials with applications across apparel, automobile, home goods, etc.

Developers of non-leather material alternatives such as wool, silk, and viscose—mostly for apparel

Developers of alternatives to plastic and other materials used in packaging

Developers of alternative materials for industrial applications such as sporting goods, electronic components, and automotive parts

Startups offering platforms or software solutions incorporating technologies such as sensors, robotics, and AI to monitor and improve the waste collection process using several methods: identifying optimal waste collection time, connecting businesses and individuals with haulers, optimizing trash pickup routes, and increasing transparency in waste management throughout the production process.

Startups that separate waste by type, either by using robotics or analytics (AI, machine learning), to help streamline the recycling process.

Startups that develop recycling technologies or provide solutions such as AI-based online platforms or algorithm-based predictive solutions to primarily support businesses in their in-house recycling efforts.

Startups developing recycling technologies, including the pyrolysis process or a recycled propylene technology, to convert plastic waste into products such as pure propylene, recycled plastic, crude oil, and furniture.

Startups developing recycling technologies such as polymer recycling, flexible hydrothermal processing, etc., to recycle textile waste into products that include carbon neutral fiber or transform the waste into new products with greater value through upcycling technologies.

Startups developing recycling technologies such as lithium-ion battery recycling processes or a Magnet-to-Magnetä recycling process to convert electronic waste into products that include recycled batteries and cathode materials.

Startups developing recycling technologies to separate materials made by combining two or more materials with different properties (composite materials) and recycle them into secondary use raw materials such as aluminum, plastic, leather, and cardboard.

Startups using proprietary technologies to recycle waste (besides plastic, textile, and electronic waste) into harmless waste materials or into materials that can be used to make household goods, furniture, and construction material.

Startups using recycling technologies such as anaerobic digestion or a chemical process to convert waste into energy.

H&M

Featured Industries

EDGE Insights

About EDGE

Contact Us

Resources

Area of Focus

Technology Research Made Effortless