From the Sector

Circular fashion and textile technology group Infinited Fiber Company has secured investments totaling 30 million euros in its latest financing round completed on June 30. The round also brought Infinited Fiber Company new investors, including sportswear company adidas, Invest FWD A/S, which is BESTSELLER’s investment arm for sustainable fashion, and investment company Security Trading Oy. Among the existing investors contributing to this round of financing were fashion retailer H&M Group, who was the lead investor, investment company Nidoco AB, and Sateri, the world’s largest viscose producer and a member of the RGE group of companies.

This securement of new funding follows Infinited Fiber Company’s April announcement of plans to build a flagship factory in Finland in response to the strong growth in demand from global fashion and textile brands for its regenerated textile fiber Infinna™. The factory, which will use household textile waste as raw material, is expected to be operational in 2024 and to have an annual production capacity of 30,000 metric tons. The new funding enables Infinited Fiber Company to carry out the work needed to prepare for the flagship factory investment and to increase production at its pilot facilities in the years leading to 2024.

“We are really happy to welcome our new investors and grateful for the continued support from our older investors,” said Infinited Fiber Company co-founder and CEO Petri Alava. “These new investments enable us to proceed at full speed with the pre-engineering, environmental permits, and the recruitment of the skilled professionals needed to take our flagship project forward. We can now also boost production at our pilot facilities so that we can better serve our existing customers and grow our customer-base in preparation for both our flagship factory and for the future licensees of our technology.”

H&M Group is one of Infinited Fiber Company’s earliest investors. They first invested in Infinited Fiber Company in 2019.

H&M Group has also signed a multiyear sales deal with Infinited Fiber Company to secure its access to agreed amounts of Infinna from the planned flagship factory.

New investor BESTSELLER has struck a similar sales deal with Infinited Fiber Company.

In addition to strong interest by global fashion leaders, the technology has significant promise for major textile fiber producers. Allen Zhang, President of Sateri, said: “Sateri is excited to continue to invest in and collaborate with Infinited Fiber Company as part of our long-term commitment towards closed-loop, circular and climate-positive cellulosic fibers. This financing round marks a major milestone for our collaboration in scaling up next-generation fiber solutions.”

Infinited Fiber Company’s flagship plant preparations are also proceeding on other fronts. Several Nordic and international investment banks have given Infinited Fiber Company proposals on the financing options for the investment.

Infinited Fiber Company’s technology turns cellulose-based raw materials, like cotton-rich textile waste, into Infinna, a unique, premium-quality regenerated textile fiber with the natural, soft look and feel of cotton. Infinna is biodegradable and contains no microplastics, and at the end of their life, garments made with it can be recycled in the same process together with other textile waste.

• The Techtextil and Texprocess trade fairs have a positive view of the future and invite the sector to take part at Frankfurt Fair and Exhibition Centre from 21 to 24 June 2022.
• Exhibitors who register well in advance benefit from an early-booking discount.

The dates for the next editions of Techtextil and Texprocess have been set and the leading international trade fairs for technical textiles and nonwovens and for the processing of textile and flexible materials are set to attract exhibitors and trade visitors from all over the world to Frankfurt am Main from 21 to 24 June 2022. Thus, the fairs are shifting the biennial cycle of events from odd to even years, which fits in perfectly with the sector’s international event calendar. Companies that book exhibition space at one of the two trade fairs no later than 31 August 2021 benefit from an early booking discount. “We see the future in a positive light and are confident that we will finally be able to give the sector the opportunity to meet and exchange ideas and information in June 2022. The desire for personal encounters, direct communication and new impressions is growing from day to day”, says Olaf Schmidt, Vice President Textiles and Textile Technologies.

Elgar Straub, Managing Director, VDMA Textile Care, Fabric and Leather Technologies, emphasises that, “Texprocess and Techtextil are the world’s foremost trade fairs for our innovative sector by a large margin. Both events offer customers an unrivalled overview of state-of-the-art innovations and technological developments – and beyond. Particularly when it comes to the latest trends for sustainability and digitalisation, Texprocess and Techtextil in Frankfurt represent the most important, future-oriented market. This makes it all the more important for both the exhibitor and visitor sides of the sector that we have the opportunity to obtain an overview of the latest market developments, to exchange ideas and information and to initiate new business. We are very relieved about this and hope that, next year, we will once again have the chance to generate new momentum for our sector in the international market.”

For the first time, Techtextil and Texprocess will occupy the western sector of Frankfurt Fair and Exhibition Centre with a total of four exhibition halls and, with a hybrid format, offer the best of both the physical and immaterial worlds: personal communication, virtual networking opportunities and maximum digital coverage. With a comprehensive hygiene and safety concept, Messe Frankfurt will ensure that all visitors and exhibitors can take part safely and with a good feeling.

Among other things, Köfner will play a key role in shaping the internationalization of the Lenzing Group and contribute to the implementation of the corporate strategy sCore TEN.

Dominic Köfner (46) will take over as head of Corporate Communications & Public Affairs at Lenzing AG at the beginning of May. As Vice President, he will report directly to the Chief Executive Officer, Dr. Stefan Doboczky.

Dominic Köfner has gained national and international experience over the past two decades at renowned consulting firms, communications agencies and on the corporate side. Before joining the Lenzing Group, Mr. Köfner was Managing Director of the communications agency Serviceplan Austria and most recently Senior Consultant at the agency group Sports & Media in Munich. Before that, he was responsible for the agendas of the Zumtobel Group and the MOL Group, respectively as CMO and CCO. Before he was appointed as crisis communications manager by the Austrian Ministry of Finance to deal with the “Hypo Alpe Adria Bank” case, he managed numerous national and international mandates as a communications consultant for the Brunswick Group.