STOCKHOLM, Oct. 7, 2024 /PRNewswire/ -- Austrian Lenzing Group invests in Swedish fiber company TreeToTextile to accelerate development of a new renewable and resource efficient cellulose fiber for textile and nonwoven applications. The fiber aims to replace part of the cotton fiber market and help the industry reduce its environmental footprint significantly1.
- We are both proud and excited to have the leading global cellulose fiber producer join us on our journey to produce renewable and resource-efficient fibers with low environmental impact. Scaling innovation requires time and knowledge, and we are fortunate to have the strong support from our current owners H&M Group, Inter IKEA Group, Stora Enso and LSCS Invest. Now with the additional expertise and sustainability leadership of our new shareholder Lenzing Group, our speed to market will increase significantly, to reach our ambitious goals and become an important player in the textile industry, comments Dr. Roxana Barbieru, CEO of TreeToTextile.
Ever since TreeToTextile AB was established in 2014 by the Swedish entrepreneur Lars Stigsson, TreeToTextile's mission has been to develop and commercialize a new, renewable and resource efficient cellulose fiber, that not only minimizes environmental impact by reducing chemical use and conserving water and energy, but also stands out in the market with its cost-effectiveness and enhanced fiber properties. The development of the fiber has been supported by its owners and strategic partners, H&M Group, Inter IKEA Group, Stora Enso and LSCS Invest. To accelerate the next phase of the company, Lenzing Group is joining with more than 85 years of experience in scaling new fiber technologies.
The Lenzing Group has a revenue of 2.52 bn EUR, approximately 8,000 employees and production sites and sales representation in more than ten countries. Their nominal fiber production capacity is 1,110,000 tons and are behind the well-known trademarks of TENCEL, LENZING ECOVERO, VEOCEL and REFIBRA.
- We are excited about TreeToTextile's award-winning technology and production process, which further reduces environmental impact, promotes the transition to a more sustainable future and is fully in line with our corporate strategy, says Rohit Aggarwal, CEO of the Lenzing Group. This partnership is a significant investment and a sign of Lenzing's relentless commitment to innovation by combining the power of its own innovation engine with a strong strategic cooperation approach. We look forward to contributing our expertise to TreeToTextile's mission, he concludes.
TreeToTextile was established in 2014 by Swedish entrepreneur Lars Stigsson, H&M Group and Inter IKEA Group, with the objective to develop and commercialize a more sustainable process for man-made cellulosic fiber. In 2016, the first fiber-volumes were produced and in 2017 an initial proof of concept was developed. Stora Enso joined in 2019, and in 2021, the announcement of the establishment of a Demo plant at Stora Enso's former premises in Nymölla, was communicated. The investment has been supported by the Swedish Energy Agency and the Demo plant was inaugurated in 2023. In June 2024, the first bale of fiber was produced in the Demo plant, followed by continuous strong development in the different process steps.
The agreement is pending merger control and regulatory approval from relevant authorities.
Contact for public relations TreeToTextile:
Nina Ekstrand, Head of Marketing & Communication, +46-76 110 67 12, nina.ekstrand@treetotextile.com, www.treetotextile.com
Contact for public relations Lenzing Group:
Dominic Köfner, Vice President Corporate Communications & Public Affairs, +43 7672 701 2743, media@lenzing.com, www.lenzing.com
About TreeToTextile AB
Swedish-based TreeToTextile is driving positive change in the textile industry, by providing better fibers to all for a resilient planet. Supported by the strong owners H&M Group, Inter IKEA Group, Stora Enso, and LSCS Invest, TreeToTextile develops a new innovative cellulose fiber technology, to provide a renewable and resource efficient fiber with a low environmental impact. The fiber has the potential to complement or replace part of the cotton, viscose and polyester markets.
Key facts & figures TreeToTextile
Year of establishment: 2014
Current owners: H&M Group, Inter IKEA Group, Stora Enso, LSCS Invest
Number of employees: 46
Current facilities: HQ in Stockholm, Demo plant in Nymölla, Sweden, R&D Center in Mölndal, Gothenburg, Registered brand names: TreeToTextile (with symbol), Nyense (for textile applications), Nyvado (for nonwoven applications)
About the Lenzing Group
The Lenzing Group stands for eco-responsible production of specialty fibers based on cellulose and recycled material. As an innovation leader, Lenzing is a partner of global textile and nonwoven manufacturers and drives many new technological developments. The Lenzing Group's high-quality fibers form the basis for a variety of textile applications ranging from functional, comfortable and fashionable clothing to durable and sustainable home textiles. Due to their special properties and their botanical origin, the TÜV certified biodegradable and compostable Lenzing fibers are also highly suitable for everyday hygiene products.
The business model of the Lenzing Group goes far beyond that of a traditional fiber producer. Together with its customers and partners, Lenzing develops innovative products along the value chain, creating added value for consumers. The Lenzing Group strives for the efficient utilization and processing of all raw materials and offers solutions to help transform the textile industry from the current linear economic system towards a circular economy. In order to reduce the speed of global warming and thus also support the targets of the Paris Agreement and the EU Commission's "Green Deal", Lenzing has developed a clear science-based climate action plan that aims to significantly reduce greenhouse gas emissions by 2030 and a net-zero goal (scope 1, 2 and 3) by 2050.
Key Facts & Figures Lenzing Group 2023
Revenue: EUR 2.52 bn
Nominal capacity: 1,110,000 tons
Employees (FTE): 7,917
TENCEL, LENZING ECOVERO, VEOCEL and REFIBRA are trademarks of Lenzing AG.
1 The TreeToTextile fiber is renewable and has low CO2 emissions: 0.6 kg CO2 eq/kg fiber*, contributing to the saving of CO2 emissions of the textile industry. (*Based on LCA report (2020), 3rd party verified (2021), simulated from lab scale, factory to factory gate of staple fibers)
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/treetotextile-ab/r/treetotextile-and-lenzing-join-forces-for-next-generation-cellulose-fibers,c4047325
The following files are available for download:
https://mb.cision.com/Main/20319/4047325/3039487.pdf | Press release (PDF) |
https://news.cision.com/treetotextile-ab/i/treetotextile-fibers,c3340019 | TreeToTextile fibers |
https://news.cision.com/treetotextile-ab/i/ceo-dr--roxana-barbieru,c3340021 | CEO Dr. Roxana Barbieru |
https://news.cision.com/treetotextile-ab/i/lenzing-ceo-rohit-aggarwal-10,c3340020 | Lenzing CEO Rohit Aggarwal 10 |
View original content:https://www.prnewswire.co.uk/news-releases/treetotextile-and-lenzing-join-forces-for-next-generation-cellulose-fibers-302268657.html
