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        Ambercycle, a California-based startup that recycles textile waste into new materials, has raised USD 21.6 million in an oversubscribed Series A funding round. The round included the participation of investors H&amp;M CO:LAB, KIRKBI, Temasek, Bestseller&rsquo;s Invest FWD, and Zalando.&nbsp;
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        The fresh funds will be allocated to scale the production of its &ldquo;Cycora&rdquo; material, a recycled textile material that is an alternative to conventional polyester. The funds will also support Ambercycle in developing circular materials for the fashion industry.&nbsp;
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  <p>
    <a href="https://www.prnewswire.com/news-releases/ambercycle-raises-21-6-million-to-build-circularity-ecosystem-in-the-fashion-industry-301452915.html">
      <b>Press Release</b>
    </a>
  </p>
  <p>
    <a href="https://ww.fashionnetwork.com/news/Materials-science-company-ambercycle-raises-21-6-million,1365842.html">
      <b>Fashion Network</b>
    </a>
  </p>
</div>


Waste Recovery & Management Tech

Ambercycle raises USD 21.6 million in Series A funding

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 <p>Switzerland-based chemical recycling company, GR3N, and industrial technology company Schneider Electric, have joined forces to create an open automation system for advanced plastic recycling. Their collaboration primarily focuses on implementing GR3N's Microwave Assisted DEpolymerization (MADE) solution, a technology that decomposes PET into chemical building blocks that are used to produce new PET pellets.</p>
 <p>The partnership's goal is to allow GR3N to expand its operations cost-effectively and rapidly, with a vision to build an industrial-scale facility in Spain. The facility is projected to manage over 40,000 tons of PET waste yearly by 2027.</p>
 <p>Schneider Electric is contributing its EcoStruxure Automation Expert to the partnership, a software-defined automation system that enhances efficiency, cuts engineering costs, and provides hardware independence. The technology was recently proven effective at GR3N's site in Italy, proving its potential to advance industrial-scale plastic recycling.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> In <a href="https:<br>
//sp-edge.com/updates/31173"> July 2024 </a> , the company also partnered with Plast Nordic and Norner to build a PET chemical recycling plant in the Nordic region. The plant will use GR3N's patented chemical recycling technology to recycle post-consumer PET waste into high-quality recycled PET (rPET) resin.</p>

GR3N partners with Schneider Electric to develop automation system for plastic waste recycling

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 <p>Battery recycling subsidiary, SK tes, part of SK Ecoplant, has inaugurated a new facility in Rotterdam capable of processing up to 10,000 tonnes of material per year. The company intends to augment this capacity by developing an adjacent site.</p>
 <p>The newly opened facility recycles lithium and EV batteries along with battery production scrap via an inert crushing and vacuum drying method. This process helps in the extraction of black mass - an intermediate processed product which contains rare metals such as lithium, cobalt, and nickel. The black mass is then reintroduced into the battery supply chain.</p>
 <p>SK tes is planning on expanding its battery recycling capabilities throughout Europe, with strategies laid out for additional capacity in Southern and Eastern Europe. The company has already achieved completion of an EV battery recycling plant in Yancheng, China, and anticipates completion of another in Newcastle, Australia, by the end of 2024.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> In <a href="https:<br>
//sp-edge.com/updates/24183"> November 2023 </a> , SK Ecoplant announced construction of an EV battery-recycling facility in Hungary expected to be operational in 2025. In <a href="https:<br>
//sp-edge.com/updates/22168"> September 2023 </a> , the company partnered with Ascend Elements to build a battery recycling pretreatment plant in Kentucky, slated to be operational from January 2025.</p>

SK tes opens battery recycling facility in Rotterdam

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 <p>Textile Recycling International (TRI), a renowned UK recycling logistics firm, has joined hands with Kirklees Council to initiate a clothes recycling trial in 10 areas within the Kirklees metropolitan region. </p>
 <p>This trial comprises two collection banks: "Too Good to Throw Away" for wearable items, and "Worn Out" for non-wearable items. The wearable clothes will be resold, and the proceeds will be donated to the Children's Heart Surgery Fund. On the other hand, the non-wearable items will be recycled to possibly be used in the production of new clothes. The trial forms part of the UK-wide Automatic-sorting for Circularity in Textiles (ACT UK) project, which aspires to reduce textile waste from landfills and advocate for a sustainable circular economy.</p>
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Textile Recycling International partners with Kirklees Council for clothes recycling trial

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 <p>Swedish startup Circulose (previously known as Renewcell) that specializes in recycling textile waste, has entered into a collaboration with US lifestyle brand Faherty Brand. They are set to unveil a new collection that is comprised entirely of recycled textile fibers.</p>
 <p>Faherty Brand will be integrating garments made from CIRCULOSE into their range. CIRCULOSE is a substance produced from 100% recycled textiles, inclusive of worn-out cotton clothes and byproducts produced during garment production. This latest collection, scheduled for its debut in Fall 2024, will spotlight the unique qualities of CIRCULOSE combined with the signature laid-back aesthetic of Faherty Brand's design style.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> The partnership marks Circulose's first major tie-up since its rebranding in <a href="https:<br>
//sp-edge.com/updates/30324"> June 2024 </a> . Prior to the rebranding, the company had a series of partnerships with brands, including Ganni, Inditex, Spinnova, and Daiwabo .</p>

Circulose partners with Faherty Brand to launch recycled textile collection

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 <p>LiBatt Recycling, a subsidiary of the UK's Recyclus Group, has received GBP 50,000 (~USD 65,800) in funding from the Clean Futures Accelerator Program led by Catapult Connected Places. The Recyclus Group will match this funding with an additional GBP 50,000 (~USD 65,800). </p>
 <p>This funding will support the development of a new recycling method for lithium thionyl chloride (LTC) batteries, which are commonly used in long-lasting devices such as fire alarms and smart meters. </p>
 <p>Currently, there are no established recycling methods for LTC batteries in Europe. The project aims to create a safe and effective recycling process for these batteries, with a focus on reintroducing the recovered lithium back into the supply chain. Notably, recycling one tonne of LTC batteries could produce enough lithium to power seven large electric vehicles. </p>
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Recyclus Group subsidiary LiBatt recycling raises GBP 100,000 in funding to develop recycling process

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<p>Indorama Ventures, a prominent producer of both virgin and recycled PET resins, has teamed up with Varun Beverages, a PepsiCo bottler, with the aim of setting up PET recycling facilities in India.</p>
<p>This joint venture has set its sight on constructing two PET recycling facilities situated in Kathua and Khurdha, with the goal of completion set for 2025. These facilities are expected to have a joint annual capacity of 100 kilotonnes of recycled PET. This initiative is in line with the regulatory requirements in India, that stipulate 30% of recycled plastic content is mandatory in packaging by 2025-2026.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> In <a href="https:<br>
//sp-edge.com/updates/31105"> July 2024 </a> , the company secured USD 200 million from IFC to launch new recycling plants in Indonesia and India. The plant in India will contribute toward supporting the company’s goal of recycling 750,000 tonnes or 50 billion bottles annually by 2025.</p>

Indorama Ventures and Varun Beverages partner to build PET recycling facilities in India

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 <p>A University of Graz spinoff, ProtectLiB, has created a container-sized recycling plant specifically for automotive batteries. The initiative is aimed at providing a cost-effective and green method of recycling important raw materials directly at the source.</p>
 <p>The startup asserts that its recycling solution can effectively separate lithium, cobalt, and nickel from liquid electrolytes without the need for heat. This technique produces non-hazardous waste, making subsequent processing and transportation significantly more cost-effective. The initial prototype has been constructed and can be found on the university campus.</p>
 <p>ProtectLiB declares that its technology provides significant benefits to its customers, namely on-site recycling capabilities and diminishing costs associated with processing and transporting recycled materials. The project has acquired its first customer in the south of Graz who will utilize the technology to recycle battery prototypes, doing so directly on-site.</p>
 
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University of Graz spinoff ProtechLiB develops on-site battery recycling solution

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 <p>Lego, a Danish toy company recognized for its plastic bricks, reveals future plans to replace the current use of fossil fuels in its manufacturing process with sustainable, recycled plastic. The transition, which is expected to be complete by 2030, comes with a higher cost due to the chosen eco-friendly materials. </p>
 <p>After testing over 600 distinct materials, Lego is now focused on progressively reducing the oil content present in its bricks by purchasing certified renewable resin at a cost that can reach 70% more. Lego's suppliers utilize bio-waste, like cooking oil or waste fat from the food industry, as well as recyclable materials, to substitute virgin fossil fuels during plastic manufacturing.</p>
 <p>Despite the increase in production charges for Lego bricks due to the switch, the company pledges not to reflect the extra costs on consumers. By 2026, Lego aims to have over half of the required resin used in their production to be certified following the mass balance technique. This method offers a verifiable way to trace environmentally friendly materials throughout the supply chain. </p>
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Lego plans to replace oil-based plastic in bricks with renewable alternatives

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 <p>The Lenzing Group, a specialty fibers supplier from Austria, has introduced a new branding theme for its TENCEL textile brand. Titled Nature. Future. Us., the theme seeks to encourage both innovation and cooperation within the textile industry.</p>
 <p>Lenzing says the updated brand identity is about offering eco-friendly and resource-efficient fiber solutions. This rebranding, the company believes, will allow TENCEL to adapt to the changing dynamics of the textile industry, promote collaboration, and improve transparency.</p>
 <p>TENCEL fibers are obtained from forestry managed in an eco-friendly way and are produced via resource-efficient methods. The brand also utilizes waste materials like orange peel and cotton byproducts to produce special edition fibers. Furthermore, Lenzing uses fiber identification technology for ensuring traceability at each step of textile production.</p>
 
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Lenzing refreshes TENCEL brand identity

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 <p>The plastic recycling startup, Samsara Eco, and NILIT, a provider of nylon 6,6 for apparel, have announced plans to collaborate on the construction of a nylon 6,6 recycling facility. The proposed project is set to be operational by late 2026 and will be positioned in Southeast Asia. The facility intends to convert textile waste into high-quality recyclable nylon 6,6 polymers.</p>
 <p>The partnership merges Samsara Eco's EosEco recycling technology with NILIT's expertise in polymerization and spinning to develop a circulatory system for nylon 6,6. This will address the challenge associated with recycling this type of fibre.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> In June 2024, Samsara Eco raised ~USD 66.7 million via a Series A extension to expand its enzymatic recycling capabilities. The company also partnered with Lululemon to unveil a version of Lululemon's Swiftly Tech long-sleeve top made from recycled nylon 6 in <a href="https:<br>
//sp-edge.com/updates/26944"> February 2024 </a> .</p>

All Updates

Ambercycle raises USD 21.6 million in Series A funding

GR3N partners with Schneider Electric to develop automation system for plastic waste recycling

SK tes opens battery recycling facility in Rotterdam

Textile Recycling International partners with Kirklees Council for clothes recycling trial

Circulose partners with Faherty Brand to launch recycled textile collection

Recyclus Group subsidiary LiBatt recycling raises GBP 100,000 in funding to develop recycling process

Indorama Ventures and Varun Beverages partner to build PET recycling facilities in India

University of Graz spinoff ProtechLiB develops on-site battery recycling solution

Lego plans to replace oil-based plastic in bricks with renewable alternatives

Lenzing refreshes TENCEL brand identity

Samsara Eco and NILIT partner to build nylon 6,6 recycling facility in Southeast Asia

Waste Recovery & Management Tech

Ambercycle raises USD 21.6 million in Series A funding

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