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Industry Talk

Bestseller backs Infinited Fiber Company

Adidas also joins H&M in backing expansion of waste textiles regeneration technology.

6th July 2021

Knitting Industry
 |  Finland

Knitted Outerwear

Infinited Fiber Company has secured €30 million in new financing and  Danish brand Bestseller’s investment arm Invest FWD is among the Finnish textile technology group’s new investors.

Bestseller has also signed a multi-year sales agreement for the company’s Infinna fibre, following a collaboration over the past year  looking at the potential to put the fibre into production.

“Through our ongoing collaboration, we have developed the first prototypes and seen that the fibre can live up to our requirements for quality, look and sustainability,” said Camilla Skjønning Jørgensen, Bestseller’s sustainable materials and innovation manager. “With Infinited’s planned flagship factory, we can actually scale this amazing circular material and in time, make it a competitive fibre to conventional fibres.

“For us, this is much more than an investment. This is a pathway to change the environmental impact of the fashion industry, as it provides a technology solution that makes textile-to-textile recycling possible. At the same time, this is something that represents the potential for Bestseller to become circular by design. This is only the beginning.”

Infinited’s technology turns cellulose-based raw materials like cotton-rich textile waste, into Infinna – a premium-quality regenerated textile fibre 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.

In addition to Invest FWD, other new investors in the recent round of financing include sportswear company Adidas as well as existing investors Sateri and H&M Group, which has also signed a multiyear sales deal to secure its access to agreed amounts of Infinna from the new plant.

“We are really happy to welcome our new investors and grateful for the continued support from our older investors,” says Infinited Fiber Company co-founder and CEO Petri Alava.

www.infinitedfiber.com

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