Polymer recycling exponent Worn Again Technologies has raised £27.6 million to support the construction of an innovative textile recycling demonstration plant in Winterthur, Switzerland.
- This represents a milestone in the commercialisation of circular strategies for hard-to-recycle fabric blends. Worn Again counts industrial stalwarts Sulzer and Oerlikon as well as fashion retailer H&M as key strategic investors.
The investments: This latest investment round brings Worn Again Technologies’ total raised funding to £42.9 million, representing the start-up’s most successful funding tranche since its founding.
- This round came from some existing partners and main stakeholders.
The technology: As an innovator in chemical recycling, Worn Again Technologies aims to drive a paradigm shift in the textiles and fashion industries.
The company is focused on enabling the creation of a more sustainable, conscious, and resilient value chain based on zero-waste, circular strategies.
- The secured funding is dedicated to a largescale demo plant that will leverage ground-breaking polymer processing technologies to upcycle 1,000 tonnes of textiles per year.
- The investment will help drive the expansion of the company and its setup, contributing to the commercialisation of a highly effective solution to reduce textile waste.
What they said:
We are extremely happy with the results of this funding round, which was our most successful so far. As such, it demonstrates the strength and growing interest in our textile recycling framework. We are well-positioned to enter the next phase of our business growth, as we can get closer to offering large-scale commercial facilities for blended polycotton materials.
— Erik Koep
Chief Executive Officer
Worn Again Technologies
We strongly believe in Worn Again Technologies’ mission and are firmly committed to ensuring its success. This is why we have provided support through investments as well as with our leading polymer processing expertise and infrastructures. Even more, we have a close connection to the demonstration plant, which is being built near to our headquarters in Winterthur, and we are keen to see it operating as soon as possible.
— Torsten Wintergerste
Division President / Chairman
Sulzer Chemtech / Worn Again Technologies
The time for circular strategies and their enabling technologies is now. This is why cutting-edge projects, such as Worn Again Technologies’ demonstration plant, are so valuable and are advancing at pace alongside current market trends and demands. We are excited to support this start-up in its next steps, driving the creation of a collaborative, circular economy for textiles.
— Georg Stausberg
Chief Executive Officer
Oerlikon Polymer Processing Solutions
