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22.11.2023

Re:NewCell initiates a strategic review

Re:NewCell AB (publ) has created a patented process for 100% textile-to-textile recycling and has invested over SEK 1,300 million to establish an innovative and efficient textile recycling plant. The industrial scale plant in Ortviken currently has a capacity to produce up to 60,000 tonnes on an annual basis.

As communicated on 12 October, the Company has experienced lower than anticipated sales volumes to fiber producers in the third quarter and as communicated on 1 November and 7 November, the Company had low sales volumes in October. In addition, sales volumes in November are now expected to be lower than previously anticipated and in line with October sales volume. Discussions are ongoing with a number of customers to secure orders, but it is uncertain when they will materialise.

Re:NewCell AB (publ) has created a patented process for 100% textile-to-textile recycling and has invested over SEK 1,300 million to establish an innovative and efficient textile recycling plant. The industrial scale plant in Ortviken currently has a capacity to produce up to 60,000 tonnes on an annual basis.

As communicated on 12 October, the Company has experienced lower than anticipated sales volumes to fiber producers in the third quarter and as communicated on 1 November and 7 November, the Company had low sales volumes in October. In addition, sales volumes in November are now expected to be lower than previously anticipated and in line with October sales volume. Discussions are ongoing with a number of customers to secure orders, but it is uncertain when they will materialise.

Therefore, Re:NewCell hereby announces that its Board of Directors has decided to immediately initiate a strategic review to explore and evaluate various funding alternatives. As part of this process, the Board of Directors will consider all potential alternatives to secure funding and optimise shareholder value. Such alternatives may include additional debt funding, equity injection through the form of a rights issue, equity injection through a directed issue targeted to a financial or strategic investor or other possible strategic transactions.
The Board of Directors has retained ABG Sundal Collier as financial advisor to assist in its review of alternatives. Vinge has been appointed as legal advisor in connection with the review process.

The Board of Directors has not set a timetable for completion of its review, but the process will be initiated immediately. Subject to compliance with its ongoing disclosure obligations pursuant to applicable laws and regulations, Re:NewCell undertakes no obligation to make any further announcements regarding the strategic review until a final decision is made by the Company’s Board of Directors.

Source:

Re:NewCell AB (publ)

Source: 22nd ITMF Global Textile Industry Survey (19.-29.09.2023) ITMF
Source: 22nd ITMF Global Textile Industry Survey (19.-29.09.2023)
13.10.2023

22nd ITMF Global Textile Industry Survey

  • Business situation remains poor and unchanged
  • Manufacturers show prudence in forecasting future developments

 
According to ITMF’s Global Textile Industry Survey (GTIS) conducted in the middle of September 2023, survey participants exhibited a cautious sentiment regarding the current business situation. The indicator for the business situation stood at -27 percentage points (pp, see Graph 1) because companies in the entire textile value chain were struggling with rising costs and weak demand. Business expectations have remained unchanged since July at around +20 pp (see Graph 2). They have jumped into positive territory in January 2023 based on the assumption that the Chinese economy would give an additional boost, but this hope did not materialise. The analysis indicates that a hard landing of the global economy is not in sight.

  • Business situation remains poor and unchanged
  • Manufacturers show prudence in forecasting future developments

 
According to ITMF’s Global Textile Industry Survey (GTIS) conducted in the middle of September 2023, survey participants exhibited a cautious sentiment regarding the current business situation. The indicator for the business situation stood at -27 percentage points (pp, see Graph 1) because companies in the entire textile value chain were struggling with rising costs and weak demand. Business expectations have remained unchanged since July at around +20 pp (see Graph 2). They have jumped into positive territory in January 2023 based on the assumption that the Chinese economy would give an additional boost, but this hope did not materialise. The analysis indicates that a hard landing of the global economy is not in sight.

Order intake recovered in May 2023, but flattened in July and remained very weak in September (-28 pp). The entire textile value chain is running on minimum levels of orders. As long as brands and retailers do not increase orders, the entire value chain will continue struggling. Order backlog slightly increased globally, from 1.9 months in July to 2.2 months in September 2023. This indicator had been on a falling trend since the end of 2021. The average capacity utilisation rate dropped again globally (69%). Textile manufacturers expect this rate to remain low in six months’ time as well.

Weakening demand has been the major concern in the global textile value chain for a year. In September 2023, this concern grew even stronger due to high inflation rates measured in the last few months, a phenomenon fueled by high energy and high raw material prices. Nevertheless, participants seem not to be concerned by order cancelations and inventory levels remain average along the textile value chain. 

More information:
ITMF market survey
Source:

ITMF

(c) BASF
14.11.2018

BASF, Materialise and Essentium join forces to advance industrial additive manufacturing

  • Three companies with complementary strengths team up
  • BASF leads a Series A investment round with Materialise as one of the co-investors

BASF Venture Capital is leading the Series A investment round in Essentium, Inc., an innovative developer of disruptive, industrial additive manufacturing solutions headquartered in College Station, Texas. Materialise is one of the co-investors in the Series A investment round in Essentium, Inc. BASF and Essentium have been working together on advanced fused filament fabrication (FFF) solutions using Essentium’s proprietary FlashFuseTM technology for high mechanical strength in the build direction for extrusion printed parts. The two companies are now extending their strategic partnership to establish a consistent global materials supply chain supportive of Essentium’s new High Speed Extrusion (HSE) additive manufacturing platform. Essentium and BASF welcome Materialise to enter this strategic partnership to develop 3D printing software for the Essentium technology.

  • Three companies with complementary strengths team up
  • BASF leads a Series A investment round with Materialise as one of the co-investors

BASF Venture Capital is leading the Series A investment round in Essentium, Inc., an innovative developer of disruptive, industrial additive manufacturing solutions headquartered in College Station, Texas. Materialise is one of the co-investors in the Series A investment round in Essentium, Inc. BASF and Essentium have been working together on advanced fused filament fabrication (FFF) solutions using Essentium’s proprietary FlashFuseTM technology for high mechanical strength in the build direction for extrusion printed parts. The two companies are now extending their strategic partnership to establish a consistent global materials supply chain supportive of Essentium’s new High Speed Extrusion (HSE) additive manufacturing platform. Essentium and BASF welcome Materialise to enter this strategic partnership to develop 3D printing software for the Essentium technology. This will allow users to take advantage of the speed of the HSE technology while having immediate access to the full Materialise software capabilities for professional 3D printing. The three companies combine their complementary strengths to jointly advance 3D printing technology and customer value to enable industrial additive manufacturing.

BASF is contributing comprehensive material know-how, a broad product portfolio, and its global network to the partnership. Materialise adds nearly three decades of expertise in the development of innovative 3D printing software solutions. Essentium is addressing additive manufacturing at scale by developing an industrial additive platform truly built for the production floor, providing its FlashFuseTM electric welding technology, and engineering-grade, multi-layer filaments for demanding applications. Together, the three partners intend to innovate solutions with advanced combination of hardware, software and materials to unleash the potential of Essentium’s unique high-speed-printer technology, coordinating their strengths to the best advantage.

“Our joint investment strengthens our co-operations with both Essentium and Materialise and accelerates the innovation potential of this powerful team to the benefit of BASF’s customers,” said Markus Solibieda, Managing Director of BASF Venture Capital.

“With this strategic investment, Essentium and BASF are focusing on improved supply chain performance, material consistency and accessibility. Essentium is also delighted to begin a new partnership with Materialise as the three companies focus efforts toward a new era for smart solutions in the global additive extrusion space. Together, we believe manufacturers everywhere will be able to accelerate production due to increased access to our new solutions, bolstered by a holistic, customer-centric approach,” comments Dr. Blake Teipel, CEO of Essentium, Inc.

“Materialise, Essentium and BASF share a vision for growth in the 3D printing industry that builds on the creation of meaningful applications in an open and vibrant ecosystem”, said Bart Van der Schueren, CTO of Materialise. “This partnership helps to promote a more open market model, which will fuel the adoption of 3D printing in the industrial field by offering users more control, more choice in materials and ultimately lower cost and higher volumes.”

BASF and Materialise are joined by a syndicate of private venture investors. Moving forward, BASF, Materialise, and Essentium will jointly drive the transition from 3D printing to scalable additive manufacturing.

Source:

BASF

(c) BASF
14.11.2018

BASF, Materialise und Essentium arbeiten gemeinsam an neuen Lösungen für die industrielle additive Fertigung

  • Drei Partner mit komplementären Stärken bauen ihre Zusammenarbeit aus
  • BASF führt Series-A-Investmentrunde mit Materialise als einem der Co-Investoren an

BASF Venture Capital führt die Series-A-Investmentrunde in Essentium, Inc., einem innovativen Entwickler von disruptiven Lösungen für die industrielle additive Fertigung mit Sitz in College Station, Texas an. Materialise ist einer der Co-Investoren in dieser Series-A-Runde. BASF und Essentium arbeiten bereits gemeinsam an der Weiterentwicklung der Fused Filament Fabrication Technologie (FFF) auf Basis der Essentium FlashFuseTM Technologie. Unter Verwendung von funktionalisierten Co-Extrusions-Filamenten wird mit dieser Technologie eine hohe mechanische Stabilität auch zwischen den Materialschichten ermöglicht. Beide Unternehmen erweitern nun ihre strategische Partnerschaft, um interessierten Kunden global einheitlich den Zugang zu Essentiums neuer High-Speed Extrusion (HSE) Technologieplattform zu ermöglichen. Neben Essentium und BASF wird Materialise Teil der Partnerschaft, mit dem Ziel, 3D-Druck-Software für die Essentium-Technologie zu entwickeln.

  • Drei Partner mit komplementären Stärken bauen ihre Zusammenarbeit aus
  • BASF führt Series-A-Investmentrunde mit Materialise als einem der Co-Investoren an

BASF Venture Capital führt die Series-A-Investmentrunde in Essentium, Inc., einem innovativen Entwickler von disruptiven Lösungen für die industrielle additive Fertigung mit Sitz in College Station, Texas an. Materialise ist einer der Co-Investoren in dieser Series-A-Runde. BASF und Essentium arbeiten bereits gemeinsam an der Weiterentwicklung der Fused Filament Fabrication Technologie (FFF) auf Basis der Essentium FlashFuseTM Technologie. Unter Verwendung von funktionalisierten Co-Extrusions-Filamenten wird mit dieser Technologie eine hohe mechanische Stabilität auch zwischen den Materialschichten ermöglicht. Beide Unternehmen erweitern nun ihre strategische Partnerschaft, um interessierten Kunden global einheitlich den Zugang zu Essentiums neuer High-Speed Extrusion (HSE) Technologieplattform zu ermöglichen. Neben Essentium und BASF wird Materialise Teil der Partnerschaft, mit dem Ziel, 3D-Druck-Software für die Essentium-Technologie zu entwickeln. Dadurch profitieren die Nutzer in vollem Umfang von der Geschwindigkeit der HSE-Technologie. Gleichzeitig erhalten sie Zugriff auf die Softwaremöglichkeiten von Materialise. Die drei Unternehmen bringen ihre komplementären Stärken ein, um gemeinsam die 3D-Druck-Technologie und deren Nutzen für industrielle Kunden zu verbessern und somit die Entwicklung der additiven Fertigung voranzutreiben.

BASF bringt ein umfassendes Material-Know-how, ein breites Produktportfolio und sein globales Netzwerk in die Partnerschaft ein. Materialise zeichnet sich durch eine fast 30-jährige Expertise in der Entwicklung von innovativen Software-Lösungen für den 3D-Druck aus. Essentium entwickelt eine Technologie-Plattform für die industrielle additive Fertigung. Basis sind Innovationen im Bereich High-Speed Extrusion (HSE), die FlashFuseTM Technologie, sowie Hochleistungsfilamente für anspruchsvolle Kundenanwendungen. Gemeinsam wollen die Partner innovative Systemlösungen mit einer abgestimmten Kombination aus Hardware, Software und Materialien entwickeln, um das Potenzial von Essentiums einzigartiger Technologie optimal ausschöpfen zu können.

„Mit dem gemeinsamen Investment stärken wir unsere Zusammenarbeit mit Essentium und Materialise sowie das Innovationspotenzial dieses schlagkräftigen Teams zugunsten der BASF-Kunden“, sagt Markus Solibieda, Geschäftsführer der BASF Venture Capital.

„Mit diesem strategischen Investment fokussieren sich Essentium und BASF auf eine Verbesserung der Supply Chain, der Materialbeständigkeit und des Materialzugangs. Wir freuen uns ebenso, eine neue Partnerschaft mit Materialise einzugehen. Alle drei Unternehmen fokussieren ihre globalen Bestrebungen smarte Lösungen auf dem Gebiet der additiven Fertigung herauszubringen. Gemeinsam sind wir davon überzeugt, dass Hersteller aus aller Welt mit dem verbreiterten Zugang zu unseren neuen Lösungen sowie gestützt durch den kunden-zentrierten Ansatz, nun schneller und kostengünstiger produzieren können“, ergänzt Dr. Blake Teipel (CEO Essentium Inc.).

“Materialise, Essentium und BASF haben eine gemeinsame Vision des Wachstums in der 3D-Druck-Branche, die auf der Schaffung von bedeutenden Anwendungen in einem offenen und dynamischen Ökosystem basiert”, sagt Bart Van der Schueren, CTO von Materialise. “Diese Partnerschaft hilft, ein offeneres Marktmodell voranzubringen, das die Übernahme von 3D-Druck-Technologien in industriellen Anwendungen fördert, indem es Nutzern mehr Kontrolle, eine größere Auswahl an Materialien und schließlich niedrigere Kosten und somit den Zugang zu größeren Stückzahlen in der additiven Fertigung bietet.“

Neben BASF und Materialise beteiligt sich auch ein Konsortium von Venture Capital Investoren an Essentium. BASF, Materialise und Essentium wollen vorangehen, um gemeinsam den Wandel vom 3D-Druck zur skalierbaren additiven Fertigung zu gestalten.

Source:

BASF