From the Sector

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.

RUDOLF HUB1922 makes a move in response to the escalating demand for genuinely sustainable technologies, particularly from forward-thinking segments within the textile and apparel industry. In a showcase at Denim by Premiere Vision Milan, RUDOLF HUB1922 presents a pioneering range of textile chemistry that embodies true evolution.

This chemistry marks a milestone in addressing the pressing need for sustainable solutions. By harnessing raw materials derived from organic waste, plastic waste, and renewable feedstock, RUDOLF's latest textile innovations stand poised to transform the industry, promising a substantial reduction in its environmental footprint.

Alberto De Conti, Head of RUDOLF HUB1922, emphasizes the radical nature of evolutionary textile chemistry, stating, "RUDOLF's approach tackles the challenge of waste generation head-on by transforming waste materials into valuable resources". The diversion of waste and renewable feedstock away from landfills and incinerators to fuel textile chemical production is a game-changer, that diminishes the industry's reliance on non-renewable resources and endorses a circular economy model.

The successful integration of chemicals derived from organic and plastic waste, as well as renewable feedstocks, necessitates effective communication and education. Herein lies the significance of fostering collaborative efforts within the industry. De Conti underscores this point, stating, "Collaboration among scientists, fashion designers, and manufacturers is paramount. It propels a collective shift towards sustainable practices, making eco-friendly fashion the standard and minimizing the industry's environmental impact".

Dibella will present its circular bed linen “Versailles” at the Sustainable Design Summit and the Cruise Ship Interiors Design Expo in London. Dibella is thus once again underpinning its reputation as a pioneer in the field of sustainability.

The Bocholt-based company is presenting its new innovation for the first time at the Sustainable Design Summit on 28 November 2023 at the Museum of London Docklands. International visitors from the cruise, hotel and aviation sectors will have the opportunity to find out more about the first circular bed linen "Versailles".

At the subsequent Cruise Ship Interiors Design Expo from 29 to 30 November 2023 at ExCeL in London, Dibella will be exhibiting for the second time after a successful start in 2022. Under the motto "Almost too good to get out of bed", Dibella will be presenting its new innovation "Versailles", its multi-certified products, the company and its customised services and benefits.

With "Versailles", Dibella is realising its vision of a closed-loop economy. The specialist for sustainable contract textiles has succeeded in recycling old, no longer usable bed linen into new fibres and weaving them into new bed linen.

Gemeinsam mit der Stadt Mönchengladbach veranstalteten der Digital Innovation Hub Düsseldorf/Rheinland (digihub) und die WFMG – Wirtschaftsförderung Mönchengladbach GmbH am Dienstag, 14. November 2023, die zweite „TexTech Start-up Night“ in der Textilakademie NRW. Bei der Abendveranstaltung versammelten sich rund 100 Personen aus der Branche Textiltechnik (TexTech), um sich über neue Ideen und Geschäftsmodelle auszutauschen.

Einblicke in Textilindustrie und den Standort Mönchengladbach
Insgesamt sechs Start-ups und Ausstellende präsentierten ihre Innovationen in einer Expo. Zu Beginn der Veranstaltung übernahm Mönchengladbachs Oberbürgermeister Felix Heinrichs die Guided Tour durch die Ausstellung: „Es ist großartig zu sehen, wie viele textile Innovationen aus Mönchengladbach kommen. Dies zeigt, dass das Ökosystem hier greift und Mönchengladbach der Standort für die Textilbranche ist.“

Einblicke in die Branche bot zudem die Keynote von Prof. Dr. Maike Rabe, Leiterin des Forschungsinstituts für Textil und Bekleidung an der Hochschule Niederrhein. Sie zeigte auf, welche Bedeutung Start-ups für die Nachhaltigkeits-Transformation der Textil- und Bekleidungswirtschaft haben. Hans-Uwe Gansfort, General Manager FIT Factory C&A, bot im Fireside-Chat mit Peter Hornik, Geschäftsführer des digihub Düsseldorf/Rheinland Einblick in C&A's FIT Factory, die in Mönchengladbach ansässig ist.

Nachhaltige Innovationen für die Zukunft
Bei einem Start-up Pitch Battle konnten sieben Gründerinnen und Gründer ihre Ideen präsentieren:

• Lars Linnemann, Geschäftsführer Fibraworks, produziert mit der fibraforce Technologie, einem innovaten Wickelverfahren, mehrlagige, multidirektionale Faserhalbzeuge für kosteneffiziente und nachhaltige Leichtbaulösungen.
• Sarah Neumann und Alexandra Plewnia präsentierten ihr Start-up Octo. Octo hat einen neuen Standard in wasserabweisenden Textilien mithilfe des umweltschonenden Octogarns entwickelt, um der Textilbranche eine nachhaltige Alternative für Fluorpolymere zu bieten.
• Dr. Hans Peter Schlegelmilch hat sich mit seinem Start-up „Brain of Materials“ der Herausforderung gestellt, aus Textilabfällen ein Recyclinggarn zu entwickeln, das den höchsten industriellen Standards entspricht.
• Dr. Monika Hauk hat mit Repair Rebels eine Online-Plattform gegründet, die die Lücke zwischen digitalen ModekonsumentInnen und analogen Reparaturdiensten für Kleidung und Schuhe schließt.
• Yuji Hara stellte das japanischen Start-up AI Silk vor. Dieses arbeitet an innovativen, leitfähigen Fasern, die mit einer Färbetechnik hergestellt werden. Durch die Verwendung von natürlicher Seide und die Leitfähigkeit der Faser selbst ist es gelungen, Elektroden herzustellen, die einige der Risiken und Herausforderungen herkömmlicher medizinischer Elektroden reduzieren, die zu Unbehagen, Haut- und In-vivo-Entzündungen sowie Messausfällen führen können.
• Dr. Robert Brüll präsentierte die FibreCoat GmbH. Das Start-up mit Sitz in Aachen entwickelt eine revolutionäre Beschichtungstechnologie für beschichtete Fasern in Verbundwerkstoffen.

Das Publikum stimmte im Anschluss über die Vorträge ab und wählte seine zwei Favoriten: FibreCoat und Octo hatten in der zweiten Runde die Möglichkeit, ihre Pitches zu vertiefen und mit dem Publikum zu diskutieren. Das beste Team der TexTech Start-up Night wurde nach der finalen Abstimmung das Start-up Octo. Sarah Neumann und Alexandra Plewnia nahmen den Preis, ein Aussteller-Ticket für das Future Tech Fest am 22. August 2024, entgegen.

The global fashion retailer H&M has joined forces with Coloreel to introduce a pioneering approach to customized embroidery. This new partnership allows customers at the H&M Alexa store in Berlin to personalize their apparel with a myriad of expressive designs.

The program marks the start of a new and innovative in-store pilot developed by H&Mbeyond. Customers can select from a diverse library of designs that will be updated on a weekly basis.

Coloreel redefines the art of embroidery, offering an unlimited spectrum of colors at the touch of a button. The technology reduces wastewater by 97% and utilizes recycled thread, marking a significant step towards more sustainable production.

“Our partnership with Coloreel reflects our commitment to enhance the shopping experience through innovative solutions,” states Oliver Lange, Head of H&Mbeyond. “By embracing this advanced technology, we can offer our customers a unique and engaging store visit."

With the collaboration, H&M and Coloreel want to explore ways to create brick-and-mortar shopping experiences and analyze the influence that a technology like Coloreel’s has on in-store purchases.

The service is offered at the H&M Alexa store in Berlin during Q4 2023. While the service currently extends to products within the store, plans for embroidering customers’ own garments might be added later. This approach would extend the lifespan of garments, creating a positive environmental impact.

Making outdoor sports accessible to as many people as possible since 1976 through quality, innovative gear, powerhouse sporting goods brand Decathlon has launched the first product of its long-term partnership with CELLIANT® infrared technology from Hologenix® – Adult Ski Socks. They are introduced in its Wedze range of ski and snowboarding socks (“wed’ze” means ‘“a small turn on the snow” in the Savoyard dialect in the Alps where this brand is headquartered).  

Decathlon was attracted to CELLIANT’s ability to convert body heat into infrared energy, improving local circulation and cellular oxygenation to support stronger performance and faster recovery. Skiers who often suffer from muscle fatigue in the calf area will appreciate the infrared infusion and light compression attributes that were specifically chosen with this in mind. The sock was also thoughtfully designed for minimum thickness, allowing for a comfortable fit within the ski boot, without sacrificing warmth or durability. Anti-friction thread on the sole and toes helps limit irritation, and seams are intentionally positioned to eliminate discomfort. The socks are offered in a Asphalt Blue color in a variety of sizes, both online and in retail stores worldwide.

• Lenzing and Södra – a long-standing partnership for systemic change
• International Textile Manufacturers Federation (ITMF) honored the two companies in the "International Cooperation" category
• EU co-funded recycling project for textiles on an industrial scale

The Lenzing Group, the world’s leading supplier of specialty fibers for the textile and nonwovens industries, and the Swedish pulp producer Södra have received the ITMF Award 2023 in the category “International Cooperation” for their joint achievements in textile recycling and circular economy. The award was presented at the ITMF Annual Conference in Keqiao, China, on November 06, 2023.

The ITMF Award 2023 is given by the International Textile Manufacturers Federation (ITMF) to recognize outstanding achievements and merits in the textile sector in two categories: ”Sustainability & Innovation“ and ”International Cooperation“. Since 2021, the two pioneers have been joining forces in textile recycling, making a decisive contribution to promoting the circular economy in the fashion industry. As part of the cooperation, the companies intend to share their knowledge with each other and jointly develop processes to enable the wider use of cellulose-based used textiles on a commercial scale.

The OnceMore® pulp from Södra, which was jointly developed further by Södra and Lenzing, is subsequently used, among other things, as a raw material for the production of Lenzing fibers with REFIBRA™ technology. The OnceMore® process makes it possible to process and recycle a blend of cotton and polyester.

ITMF paid particular tribute to the joint LIFE TREATS project (Textile Recycling in Europe AT Scale)¹,which was supported by an EU grant of EUR 10m under the LIFE 2022² program and aims to build a large-scale plant at Södra's Mörrum site in Sweden.

For more information on the ITMF Awards 2023, visit the ITMF website.

¹ Project 101113614 — LIFE22-ENV-SE-TREATS
² https://cinea.ec.europa.eu/programmes/life_en

Solvay announced the future Board of Directors of SYENSQO, effective upon completion of the planned separation of Solvay into two companies – SOLVAY and SYENSQO – which is on track to be completed in December 2023.

SYENSQO’s Board will be composed of 10 members, including 6 independent members, 3 members representing the reference shareholder, Solvac, and the company CEO. They have deep expertise in specialty industries, international business operations, risk management, corporate governance, finance and clean technology.

The following individuals will serve on the SYENSQO Board of Directors:
Rosemary Thorne will serve as independent Director and Chair of the SYENSQO Board, as well as Chair of the Board’s Finance Committee. She is currently an Independent Director on the Solvay Board of Directors, appointed in 2014, and Chair of the Board’s Audit Committee. She is also an Independent Director on the Board of Merrill Lynch International (UK), a wholly-owned subsidiary of Bank of America, serving as Chair of the Audit Committee. Ms. Thorne has decades of financial leadership experience across a wide range of industries. She previously served as Chief Financial Officer at J. Sainsbury, the UK’s largest supermarket chain at the time; Bradford & Bingley; and Ladbrokes. Ms. Thorne previously sat as an Independent Director on the Boards of Royal Mail Group, Cadbury Schweppes, Santander UK, First Global Trust Bank and Smurfit Kappa Group.

Dr. Ilham Kadri will serve as Chief Executive Officer and member of the Board of Directors of SYENSQO. She is currently CEO and President of the Executive Committee at Solvay. Ms. Kadri has successfully led the turnaround of Solvay, delivering double-digit EBITDA growth and 18 consecutive quarters of positive free cash flow, deleveraging the balance sheet and promoting superior people engagement. She is an independent Board member at A.O. Smith and L’Oréal. She is active in non-profit organizations, as Chair of the World Business Council for Sustainable Development (WBCSD), member of the steering committee of the European Round Table of Industrialists (ERT) as well as a permanent member of the World Economic Forum’s International Business Council (WEF). Ms. Kadri has extensive leadership experience across a variety of industries in four continents and with leading industrial multinationals, including Shell, UCB, Huntsman, Dow, Sealed Air. Prior to Solvay, she was CEO and President of Diversey in the USA, led the company’s return to profitability and resulting spin off and divestiture to Bain Capital. She founded two non-Profit foundations: the Solvay Solidarity Fund in Belgium in 2020 which supported more than 7000 families affected by Covid-19 and natural disasters; and founded the ISSA Hygieia Network in 2015 in the USA, to help women in the cleaning industry. She received two Doctor Honoris Clausa from EWHA University in Korea and Université de Namur in Belgium.

Julian Waldron will serve as independent Director and Chair of the Audit Committee. He currently serves as Deputy Executive Chairman of privately-held Albea Group, a global beauty and personal care packaging company which operates 35 facilities in Europe, Asia and the Americas. Mr. Waldron has held senior leadership roles at several leading listed companies in the industrial, technology and services sectors and brings a wealth of expertise in finance and business operations. Prior to joining Albea in 2022, he was Chief Financial Officer of Suez for three years after serving as Chief Financial Officer and subsequently Chief Operating Officer of Technip. He started his career at UBS Warburg where he spent 14 years. Mr. Waldron also served as an independent Board member and Chairman of finance, risk and investments at Carbon Clean, a privately-owned carbon capture company dedicated to achieving net zero.

Heike Van de Kerkhof will serve as independent Director and Chair of the Nomination Committee. She currently sits on the Board of OCI N.V.. Ms. Van de Kerkhof brings more than 30 years of experience in the chemicals, oil & gas and materials industries, having served in numerous leadership roles around the globe. From 2020 to 2023, she was Chief Executive Officer of Archroma Management, a global specialty chemicals company. During her tenure, she successfully completed the transformational acquisition of Huntsman’s Textile Effects business. Prior to her role at Archroma, Ms. Van de Kerkhof served as Vice President of Lubricants, Western Hemisphere at BP, and held positions at Castrol, The Chemours Company, and Neste Corporation. She also held many leading roles within DuPont over 18 years.

Matti Lievonen will serve as independent Director and Chair of the Compensation Committee. He is currently an independent director on the Solvay Board, appointed in 2017. Mr. Lievonen is a proven executive in the energy, forestry, power and automation industries with an extensive track record of leading businesses through climate transition. For over ten years until 2018, he served as Chairman and Chief Executive Officer of Neste Corporation, a global leader in next-generation renewable fuels and chemicals. During his time at Neste, Mr. Lievonen successfully promoted the development of clean fuels as well as Finland’s bioeconomy strategy in advancing renewable transportation fuels. He has also been involved with organizations such as Fortum Board, SSAB, Nynäs AB, Ilmarinen, and the HE Finnish Fair Foundation. Until 2021, Mr. Lievonen was also Chairman of the Board of Directors at Fortum. He has been recognized for his admirable leadership and expertise, and in 2016 was awarded an Honorary Doctorate of Technology by the Aalto University Schools of Technology.

Dr. Françoise de Viron will serve as non-independent Director, Chair of the ESG Committee and Vice-Chair of the Board. She is currently a director of the Solvay Board, appointed in 2013. Ms. de Viron is a regarded academic leader and has extensive experience in innovation, R&D and qualitative research. She is a Professor Emeritus at the Faculty of Psychology and Education Sciences and Louvain School of Management at UCLouvain in Belgium where she has been an Academic Member of various groups at UCLouvain. Ms. de Viron previously served as the president of AISBL EUCEN – the European Universities Continuing Education Network. Prior to her university position, from 1985 to 2000, she was in charge of developing Artificial Intelligence applications at Tractebel S.A. (now Tractebel-Engie).

Roeland Baan will serve as independent Director. He currently serves as President and Chief Executive Officer of Topsoe, a privately-held leading provider of clean energy and petrochemical technologies. He is also Chairman of the Supervisory Board of SBM Offshore NV. Roeland Baan has extensive experience in supply chain management, M&A, business development and operations management. Prior to joining Topsoe in 2020, he was President and CEO of Outokumpu and has held several executive roles at global organizations such as Aleris International, ArcelorMittal and SHV NV. He spent over 16 years in various roles across the globe at Shell, living in South America, in Africa and in the United Kingdom.

Edouard Janssen will serve as non-independent Director. He is currently a Director on the Solvay Board, appointed in 2021. Earlier this year, he was appointed Chief Financial Officer of D’Ieteren Group, a European leader in automotive distribution services. Mr. Janssen is also a Board member of privately-held Financière de Tubize and Union Financière Boël, as well as Co-Founder and Chair of Trusted Family. Mr. Janssen is active in academics, as Vice-Chair of the International Advisory Board of the Solvay Brussels School of Economics and Management and on the advisory board of the INSEAD HGIBS. He brings expertise in finance, strategy, entrepreneurship, business management, planning and marketing. He has served as Solvay’s Vice President in strategy and M&A between 2019 and 2021, and prior to that, he was the US-based General Manager for North- and Latin America at Solvay’s Aroma Performance Global Business Unit.
 
Dr. Mary Meaney will serve as non-independent Director. She is currently a member of the Board of Directors and of the Audit Committee of Groupe Bruxelles Lambert SA. She also sits on the Board of Directors and the Remuneration Committee of Beamery, the privately-held talent management company. She is a member of the Board of Directors and of the Finance Committee of Imperial College, London.Dr. Meaney will bring expertise in Strategy, M&A, and change management, which she acquired over a 24-year career at McKinsey. She was a Senior Partner, served on the McKinsey Shareholders Council and led McKinsey’s global Organization practice.

Nadine Leslie will serve as independent Director and is based in the United States of America. She is currently a member of the Board of Directors of Provident Financial Services , as well as a Non-Executive Director of Seven Seas Water Corporation, a water and wastewater treatment multinational company. She also sits on the Board of Trustees of Hackensack Meridian Health Network and is active as strategic consultant for civil engineering firm T&M Associates. Over a 22-year career at Suez, Ms. Leslie held several leadership positions, the last one being Chief Executive Officer of Suez North America, until 2022. Previously she served as Executive Vice President Health & Safety.

Carbios announced the strengthening of its leadership team with the appointment of Bénédicte Garbil as Senior Vice President of Corporate Affairs and Sustainability. Bénédicte Garbil oversees three strategic areas: Public Affairs, Corporate Affairs, and Sustainability. In her Corporate Affairs role, she supervises Communication, Regulatory, Project Management, and Innovation Funding functions. In her Sustainability role, she oversees CSR, QHSE, and LCA functions. Bénédicte Garbil also joins the Group’s Executive Committee.

Bénédicte Garbil started as a public affairs advisor at the French Federation of Healthcare Industries before becoming Director of Public Affairs at a pharmaceutical laboratory. In 2013, she joined the public sector, first working at the General Directorate of Enterprises (DGE) as Head of the Health, Biotechnology, and Agri-food Industries Bureau, and then at the General Investment Commissioner’s Office (CGI) from 2014 to 2017 as Deputy Director of Health and Biotechnology. Her experience allowed her to gain expertise in public policies and funding innovative projects, contributing to the creation of public funding mechanisms supported by the French Program of Investments for the Future (PIA). After her public service, she led Edwards Lifesciences in France for 4 years, then founded a consulting company accompanying biotechnology and healthcare companies in their development, from valuation to market access, including industrial development in France. A graduate of Sciences Po Lille, she holds a master’s degree in health law and a university degree in pharmacoeconomics.

adidas Originals and Edison Chen announce their global partnership, adidas Originals by Edison Chen, as Chen makes his return to the brand to begin a new era of collaboration that will redefine creative innovation and build a cultural legacy for the future.

Chen is the Founder and Creative Director of global lifestyle brand CLOT, which is celebrating its 20th anniversary this year. After moving from Vancouver to Hong Kong in his youth, the clash of East meets West began for him as he adapted to the exposure to different cultures. His experiences and new perspectives opened his eyes to globalism and started to lay the foundation for what would eventually become CLOT.

For his partnership with adidas Originals, Chen will bring an innovative vision and creative prowess to introduce exclusive collaboration styles, leveraging adidas’ extensive archive and history in the process. With a focus on fostering cultural exchange between the East and West, adidas is partnering with Chen to introduce collections that push boundaries and defy the norms with his thought-provoking designs.

Celebrating the shared commitment to creative innovation between adidas Original and Edison Chen, the “Change The Generation” collection explores three distinctly different styles ranging from ultra-lifestyle to formal dress and active/streetwear bringing to life a collection that can be explored individually as well as a collision of the three lifestyles together.  

Pieces from the collection will start becoming available in January 2024.