Singapore-based RGE Pte Ltd (“RGE”) joins a group of investors including H&M Group, Virala and Fortum to help Infinited Fiber Company Oy (IFC) scale up its technology that turns textile waste and other pulp-based materials into new textile fibers. A strategic co-operation agreement was also signed between RGE and IFC to commercialize the startup’s technology.
Since early 2018, IFC has been operating a 50-ton per annum pilot plant in Espoo, Finland, that produces Infinited Fiber for testing purposes with global brand owners such as H&M, VF Corporation and their manufacturers. Recently, the company leased production facilities in Valkeakoski city, Southern Finland, for a new pre-commercial 500-ton per annum plant and customer training centre that will start up in early 2020.
The new investment supplements an earlier partnership with H&M Group, Virala and Fortum, which was announced in April. The new financing is designed to enable IFC to finalize the scaling of its technology and to extend its fiber production capacity.