ArcticStartup’s Post

#Fashion is one of the most #polluting industries in the #world, generating huge volumes of greenhouse gas emissions: in 2024 it is estimated to produce 1bn metric tons of carbon dioxide. “Go big or go home” might not be the official thesis that powers Swedish 🇸🇪 #billionaire Harald Mix’s company builder and investment firm Vargas Holding, but it’s a fair way of describing its strategy. It’s already cofounded ambitious projects like battery giant Northvolt, sustainable steel manufacturer H2 Green Steel and heat pump startup Aira, the fastest-growing startup in the Nordics. Vargas launched Syre, as a joint venture with H&M, after conversations about the clothing maker’s problems with #recycling #textiles. Vargas is doing it again with its two-year-old textile recycling startup Syre (meaning “oxygen” in Swedish), which has announced the closure of its $100m Series A. The round was led by US-headquartered private equity firm TPG Rise Climate, which is investing $50m. Syre was born following a meeting, set up by Northvolt and H2 Green Steel board member Susanna Campbell, between Vargas and H&M. H&M has invested in several recycling companies in the last decade, such as Finland’s Infinited Fiber, UK startup Worn Again, Finnish Spinnova and Sweden’s Renewcell, which H&M had a 10% stake in but filed for bankruptcy in February. Source: https://lnkd.in/e68zcmbA #Fashion #Pollution #Recycling #Sustainability #World

Finland’s Paptic wraps up €27.5M boost to unleash eco-friendly packaging revolution across the globe Espoo-based Paptic Ltd recently concluded a growth financing round, raising a total of €27.5 million with significant contributions from investors such as UB FIGG (UB Forest Industry Green Growth Fund), Emerald Technology Ventures, SIG InnoVentures, and EIC Fund - European Innovation Council and SMEs Executive Agency (EISMEA). The company specializes in the production of wood fiber-based packaging materials as eco-friendly alternatives to conventional plastics. The secured funding is earmarked for global expansion efforts, improving the company’s ability to cater to international clients, and supporting the scaling up of Paptic’s foam-based manufacturing technology. https://lnkd.in/dZMzCgut #funding #nordicmade #finland #sustainability #packaging #circulareconomy #renewables #startups #trending #trending

A Cambridge startup that develops sustainable, plant-based pigments has raised $3.2 million in early stage funding and plans to launch a Series A round in the coming months to upscale production capacity and accelerate commercialisation. https://lnkd.in/eCz6n64x Sparxell is commercialising products designed to eliminate synthetic chemicals from colourants in multibillion dollar markets such as cosmetics, fashion, paint and packaging. The Circular Innovation Fund, a global venture capital fund jointly managed by Demeter and Cycle Capital with L'Oréal as an anchor investor, participated in the seed funding round alongside others including SpaceX-backer Future Communities Capital, PDS Ventures, Katapult, Joyance Partners and SNØCAP VC. Sparxell was founded in 2022 by Cambridge scientists, led by CEO Dr Benjamin Droguet and Professor Silvia Vignolini, who discovered ways to replicate vibrant colours in nature using fully plant-based cellulose, a renewable, biodegradable resource that can be extracted from waste streams. Sparxell’s pigments use the same material that many plants and animals use to produce vivid, durable, and fade-resistant colourants. The products are toxin-free and fully biodegradable with a colour intensity that lasts longer than traditional colourants and pigments on the market. The company has already engaged in product innovation partnerships with blue-chip companies across different industries including leading car manufacturers, world-leading high-end fashion brands, and cosmetic goods manufacturers. Dr Droguet said: “Traditional chemical colourants are causing major environmental harm through every stage of their lifecycle, from manufacture to degradation. Over 10,000 fossil-based chemicals are used in current colouration processes. “The textile industry is a well-known emitter of dyes and microplastics, with over 1.5m tonnes entering the environment every year, while paint has recently been recognised as the largest source of microplastics in the ocean. “Our plant-based materials can be grown and sourced locally in a complete rethink of how colours are currently being manufactured while reducing transport emissions.” The colourants market is worth an estimated $38 billion and is expected to grow to over $100 billion by 2030. Sparxell is targeting specific markets including beauty (colour cosmetics, personal care, creams, sunscreens, glitter make-up), fashion (textile colouring, embellishments, sequins), packaging (bulk colouring, films, foils), and paint (automotive, building).

Harald Mix firm Vargas Holding is known for launching ambitious projects like Northvolt and H2 Green Steel. Its latest venture, Syre, a textile recycling startup co-founded with H&M, has secured $100 million in Series A funding. Syre aims to address the large-scale recycling of polyester, leveraging Vargas’s model of recruiting experienced teams and scaling technology quickly. The funding round was led by TPG Rise Climate, with additional investments from Giant Ventures, Norrsken VC, H&M, Volvo Cars, and the IKEA-linked IMAS Foundation. “If we need to drive this climate transition, we need to do it at large scale, quickly, and in parallel…Our substantial size has not been seen before (in this industry). That is important, but what makes a real difference is our ability to scale to an attractive price point,” said CEO Dennis Nobelius. #Sustainability #TextileRecycling #GreenInnovation #CircularEconomy #ClimateAction #TechForGood #SustainableFashion #VentureCapital #PolyesterRecycling #GreenInvesting #RenewableResources #EcoFriendly #ClimateTech #ClimateChange

Swedish startup secures $100M Series A, shortlists Vietnam and Iberia for gigascale plants in textile recycling revolution Syre, a Stockholm-based textile impact company launched in March this year by Vargas Holding and H&M Group, has secured a significant milestone with a $100 million Series A funding round. The investment, led by TPG Rise Climate, with additional contributions from founding investor H&M Group and strategic partners like Giant Ventures, IMAS Foundation, Norrsken VC, and Volvo Cars, underscores a strong commitment to drive sustainable change in the textile industry. The funding will support the construction of a blueprint plant in the U.S. and lay the groundwork for the company’s first two gigascale textile-to-textile recycling plants, with Vietnam and Iberia shortlisted as potential locations. Syre’s innovative recycling process, fully acquired through this equity funding, promises to revolutionize the industry by transforming post-consumer waste into circular polyester efficiently and at scale. https://lnkd.in/dShN8R3v #funding #nordicmade #sweden #startups #textiletech #fashiontech #sustainability #trending

Meet the 6 finalists of the Green Alley Award 2024 🏆 We are thrilled to unveil the top 6 finalists for the Green Alley Award who have been chosen out of a record-breaking 339 incredible applications! These visionary startups are redefining what is possible in a circular economy, by creating solutions that transform waste into valuable materials and manage the resources more efficiently. Here is a sneak peek into the top 6 solutions: AraBat srl - Extension of the life cycle of batteries by recovering spent batteries with bio-based process that uses fruit and vegetables. Carbon Cell - Compostable packaging using a patentable technology to create a rigid expanded foam from biochar. Ecopolplast  - Thermoplastic elastomer made from recycled plastic and tyre rubber, reducing environmental and CO2 impact. Novapedra - Production of ceramics from organic waste without the use of natural gas for the manufacturing process. PulpaTronics - Recyclable paper-based RFID tags, that are metal-less and chipless. Rheiazymes  - Revolutionizing fashion by developing biological, molecular scissors to keep the sportswear, swimwear, and outdoor textiles in a YARN-TO-YARN® Loop. These innovative startups will join us in Berlin for a LIVE pitch, where they will showcase their solutions and compete for €25,000 Green Alley Award grand prize! Click here to learn more: https://lnkd.in/eC43-QnE #GreenAlleyAward #GreenAlleyAward24 #Sustainability #CircularEconomy #Innovation #Entrepreneurship #Recycling #ClosedLoop #Berlin #startups #textile #packaging #technology #batteries

[JEC Startups’ Innovation Session – Sustainability Focus]   Let’s introduce the JEC Startup Innovation Session!   At JEC Forum DACH, 5 Startups will join the stage and present how their innovations are pushing the boundaries of sustainability in the composites industry! 🌍   From natural fibre composites, bio-based resins 🌿 and recycled materials to new manufacturing and recycling techniques ♻️, these innovative solutions are transforming the way composites are used and the value they deliver 🔋   Here's an overview of the activity of the 5 startups: 1.     Eve Reverse turns emissions into products by creating carbon-negative composites 2.     Infinici AG produces the first 100% recycled glass fibre product for advanced applications 3.     Uplift360 develops chemical technology to recycle advanced materials 4.     SPIRAL Recycled Thermoplastic Composites B.V. meets the promise of circularity for carbon fibre thermoplastic composite production waste and end-of-life 5.     Verretex produces decarbonised glass fibre textiles   To find out more, join us on October 22nd, from 4pm to 5pm in the conference Room at JEC Forum DACH: https://lnkd.in/eH7uCCMq #composites #startups #innovation #sustainability #circularity #recycling #glassfibre #carbonfibre

Are you ready for a revolutionary change in the leather industry? At last, there's a feasible alternative that doesn’t compromise on quality or add a crippling cost to our already burdened industries. Welcome to a future shaped by the forward-thinking minds at Qualus, led by the visionary Vikrant Pratap! This innovative startup harbours an eco-friendly solution that's not only set to rejuvenate the UK leather industry, but could also pave the way for global change! Delve into this fascinating exploration of how Qualus's unique approach to tanneries is leading the charge for a more sustainable leather industry: https://UKT.news/?p=13166 Meet the pioneers, grasp the process, and understand why investors are rallying behind this transformative idea. Let's champion businesses like Qualus that are making a tangible impact! #Sustainability #EcoFriendly #UKLeatherIndustry #GreenTech #Innovation #Qualus

Sydney startup Xefco secures $10.5 million in Seed extension funding, primarily backed by Main Sequence Ventures and Breakthrough Victoria, to expand its presence in Victoria and advance its innovative coating technologies for textiles. 💡 Key Highlights: 🌱 This investment will enable Xefco to bolster its presence in Victoria, indicating a strategic expansion beyond its origins in Sydney. 🌱 Xefco's pioneering plasma coating technology stands out as a game-changer in textile manufacturing. 🌱 By facilitating water-free processes for dyeing and finishing fabrics, Xefco not only reduces water consumption but also slashes energy usage, chemical dependency, and carbon emissions. 🌱 By potentially eliminating millions of tonnes of waste and curtailing CO2 emissions, Xefco's operations promise significant positive impacts on both the industry and the planet. “Compared to conventional wet dyeing and finishing, our process eliminates the use of water and cuts energy, chemical consumption and cost,” said Xefco CEO and cofounder Tom Hussey. #textileinnovation #sustainability #environmentaltech #cleanenergy #manufacturinginnovation #futureoftextiles #ecofriendly #climatetech #climateaction #climatechange

Congratulations to erthos for closing an $11.2 million Series A round of funding! 👏👏👏 The biomaterials startup was a 2022 Extreme Tech Challenge Global Finalist and Female Founder award winner. From the Forbes article announcing the funding round: "erthos’ proprietary plant-based resin acts as a one-to-one substitute for traditional plastic and can be used in manufacturing the everyday products we have come to depend on – minus the harmful side effects.” Co-founders Nuha Siddiqui and Kritika Tyagi, who started erthos while in college at the University of Toronto, also made the Forbes 30 Under 30 list. At the same they closed this round of funding, erthos announced they received compostable certifications that validate its biomaterials for commercial-scale injection molding across 15 unique industry applications. Impressive. 🚀 Startups, if you ever needed more incentive to apply for XTC startup challenges, this is for you! We’re still accepting applications for the Deep Tech Climate Innovations Challenge, which culminates in a final pitch round and exclusive investor networking event Jan. 10 at CES. Learn more and apply by November 27th: https://lnkd.in/eJzYHGJh As John Martin says, “we sure know how to pick ‘em!” Maybe next year we’ll be throwing the spotlight on YOUR Series A announcement! #proudmoment #impactstartup #femalefounders #alumnisuccess Victoria Young Bill Secorro TechCrunch