From the Sector

Coloreel Group AB, a pioneering Swedish technology company known for its instant thread dyeing technology, today announced that it has filed for bankruptcy. The decision comes after the company's inability to develop its business volume quickly enough and, related to this, secure the necessary financing.

Despite many in-depth discussions with financial investors and potential industrial partners to secure additional funding, Coloreel has been unable to overcome its financial hurdles.

Coloreel has aimed to transform the textile industry with unique coloring and design possibilities through a sustainable and efficient thread dyeing process. The company has over 90 customers in the global market, many of them well-known brands. Over 120 granted patents across 45 markets ensure robust protection of the innovative technology.

"It is with a heavy heart that we announce the filing for bankruptcy today. We have been working very hard to introduce a new technology and new ways of working on the global textile market. Despite relentless efforts to grow the business, minimize operational costs, and secure additional funding, the challenges are too great. The board and the management are incredibly proud of what our team has achieved, and we are grateful for the support we have received from our partners, customers, and investors”, states Anders Persson, Chairman of the Board, Coloreel Group AB.

The filing also applies for the daughter company Coloreel AB.

Hexcel has joined forces with a Lyon-based startup, LAVOISIER COMPOSITES. This company has developed CARBONIUM®, a new generation of material sourced entirely from carbon composite by-products generated by the French aerospace sector.

Hexcel supplies high-performance composite materials for the latest generation of aircraft such as the Airbus A350 XWB (53% composite structure). This has greatly contributed to the reduction of the aircraft's weight, thereby reducing its fuel consumption and carbon footprint. Composites are a significant first step toward tackling environmental and economic challenges, and eco-sourcing of the industry by-products also plays a key role.

CARBONIUM®, which was developed with a process based on three patents pending, reduces overall environmental impact by 40-50%, compared to equivalent products derived from virgin materials. Based on the "climate change" factor, the life cycle assessment carried out with Hexcel revealed that the up-cycling of by-products from the aerospace composites industry leads to a reduction in CO2 emissions of 13kg per kg of CARBONIUM® used.
In its first year of operation, LAVOISIER COMPOSITES has already enjoyed commercial success, including the launch of two top-of-the-range watch models by Swiss luxury watchmaker ULYSSE NARDIN using this new material.

From aircraft fuselages to watchmaking, the composites manufacturing cycle presents opportunities for reducing our impact on the environment.