STOCKHOLM, SE / ACCESSWIRE / May 10, 2023 / Re:NewCell AB (publ) (FRA:6QP) (STO:RENEW) The TextileGenesis digital token technology extends Renewcell's traceability across its entire supply chain.
STOCKHOLM (May 10, 2023) - After participating in industry trials, Renewcell and TextileGenesis have the intention to establish an agreement for full pulp-to-retail traceability for Renewcell's CIRCULOSE® recycled raw material across the entire textile supply chain. This announcement is being made today at an industry event in Milan, Italy called Challenge the Fabric, initiated and hosted by Ekman & Co.
Renewcell uses a patented process to breakdown and recycle cotton and other cellulosic textile waste, such as worn-out jeans and production scraps, to create CIRCULOSE®, a biodegradable raw material that can be used to create viscose, lyocell, modal, acetate and other man-made cellulosic fibers. These regenerated fibers are then spun into yarns, woven or knitted into fabrics before being cut and sewn into new high-quality textile products.
With TextileGenesis, Renewcell will be able to share real-time digital traceability with its customers and supply chain partners.
? The platform uses digital tokens to ensure a secure chain of custody for all supply chain processes from raw materials to retail.
? The company's "fiber-forwards" traceability captures real-time shipments; its Fibercoins digital tokens verify point of origin and eliminate "double counting" of sustainable materials.
? Its AI (augmented intelligence) engine verifies transactions between supply chain partners.
Furthermore, TextileGenesis is already partnering with fiber producers including Lenzing AG, Eastman, and Birla Cellulose as the leader in textile traceability.
"Since Renewcell was founded in 2012, we have been on a mission to create circularity in the fashion industry. We have the unique ability to make a pulp, branded as CIRCULOSE®, made from 100% textile waste which is actually recycleable again. CIRCULOSE(R) can create new fibers which are equal in quality while reducing textile waste going to landfills," says Patrik Lundstrom, Renewcell Chief Executive Officer. "Our new facility in Sundsvall, Sweden, is helping move us towards our goal of recycling the equivalent of more than 1.4 billion T-shirts per year. But we also need a trusted and transparent supply chain to ensure the authenticity of products made from CIRCULOSE® from our facilities all the way to the retail consumer. That is what TextileGenesis brings to the table."
"Traceability is fast becoming a key prerequisite to sustainable product offerings. Our partnership with Renewcell will create unprecedented supply chain traceability for CIRCULOSE® pulp towards retail brands. It moves forward the sustainable fibers industry to create end-to-end traceability," says Amit Gautum, TextileGenesis Founder and Chief Executive Officer. "Renewcell has engineered a truly circular process to make CIRCULOSE®. TextileGenesis helps Renewcell verify every step of the supply chain and carry that authentic and transparent message all the way to their brand and retail partners."
Contacts
Patrik Lundström
CEO
patrik.lundstrom@renewcell.com
+46 76 183 47 17
Toby Lawton
Chief Financial Officer
investors@renewcell.com
+46?70 242 29 47
About Renewcell
Re:NewCell AB (publ) ("Renewcell") developed a patented process that enables the recycling of cellulosic textile waste, such as worn-out cotton clothes and production scraps, transforming it into a pristine new material called CIRCULOSE®. Founded by innovators from Stockholm's KTH Royal Institute of Technology in 2012, the award-winning, Sweden-based sustaintech company's vision is to make fashion circular.
Through its patented process, Renewcell is able to recycle cellulosic textile waste, such as worn-out cotton clothes and production scraps, transforming it into a pristine new material called CIRCULOSE®. Fast Company named Renewcell one of the World's Most Innovative Companies in 2021, as well as World Changing Idea in 2023. CIRCULOSE® was also included on TIME Magazine's list of the 100 Best Inventions 2020.
Renewcell is a publicly listed company with shares traded on Nasdaq First North Premier Growth Market with the ticker name RENEW and ISIN code SE0014960431. FNCA Sweden AB is Certified Adviser, +46(0)8-528 00 399, info@fnca.se.
Image Attachments
CIRCULOSE-« Tour April 23 Photo By Sadia Rafique
CIRCULOSE-« Tour April 23 Production Photo By Sadia Rafique
Attachments
Renewcell Partners With TextileGenesis for Circulose® Pulp-to-Retail Transparency
SOURCE: Re:NewCell AB (publ)
View source version on accesswire.com:https://www.accesswire.com/753919/Renewcell-Partners-With-TextileGenesisTM-for-Circulose-Pulp-to-Retail-Transparency
