Latest news with #ChangeNowSummit
Yahoo
29-05-2025
- Business
- Yahoo
Bio-Inspired Sparxell Ready to Glitter Bomb the Market
If all that glitters cannot be gold, must it be plastic? Sparxell thinks not. Now, a grant from the European Commission will help the bio-inspired startup find out. The Cambridge spin-out secured roughly a $2.15 million grant (1.9 million euros) from the European Innovation Council (EIC) as the sustainable colorant technologist works to overcome the 'critical technical barriers' with scaling production. More from Sourcing Journal Material World: Celebrate Biological Diversity Day With Carp Couture Chemical Textile Recycler Eeden Closes $20M Funding Round Material World: Still Burning Bras? You Can Bury Balena's The funding—awarded to 'disruptive innovations addressing global challenges,' per Horizon Europe—adds to Sparxell's previous investments and will help secure the startup's foothold in the $48 billion global colorant market. According to Precedence Research, the whitespace in the market sits around a 'healthy compound annual growth rate of up to 12.22 percent. The timing's right, too, as Sparxell reported 'This European Innovation Council funding is transformative for Sparxell, allowing us to accelerate our manufacturing scale-up and overcome key technical challenges much earlier in our development pathway,' Benjamin Droguet, founder and CEO of Sparxell, said. 'With our plant-based technology, we're offering industries a fundamentally different approach to color that works with nature rather than against it while meeting the highest performance standards.' Sparxell was founded in 2022 after scientists discovered a way to replicate vibrant hues found in nature using plant-based cellulose—a renewable, biodegradable resource extracted from waste streams. Sparxell's pigments use the same material that plants and animals use, the company said, to produce its fade-resistant colorants. Thus, its products are toxin-free pigments that allegedly last longer than the incumbent options on the market. Since 'spinning out' in 2023, Sparxell said it has commercially validated 25 fully-funded pilot projects. Since joining LVMH's La Maison des Startups accelerator program last September, Sparxell said it's befriended the luxury market, connecting with a handful of the house's heritage brands, like Loewe and Givenchy. Previously, the color platform technology company was acknowledged by the Biomimicry Institute's Ray of Hope Prize back in November 2023 (with $100,000) before taking home the $250,000 Sustainable Collaborative Prize from Morgan Stanley that December. Last month, Sparxell was named 'Best Sustainability Venture' by the Falling Walls Foundation. Last week in Paris, the eco tech developer took home two more awards from the ChangeNow Summit (including the Coups de Cœur jury-decreed honor) at its annual ESG showcase. This year's summit had 15 major partners (like Kering and Moët Hennessy) and 12 ecosystem partners (like B Lab and Clean Tech Open). In addition to LVMH's La Maison des Startups, Sparxell is also part of the Respond Accelerator by the BMW Foundation Herbert Quandt, the automotive group's independent corporate foundation that was named for the Nazi-affiliated industrialist for reportedly rescuing the car czar from bankruptcy (and/or Daimler-Benz) back in 1959. Sparxell joined the six-month program's fifth cohort, last April. In operation with the European startup hub UnternehmerTUM, the program has, since launching in 2020, supported over 50 startups solving for net-zero. Currently, Sparxell said, the team is focused on fundraising to accelerate market adoption across various industrial verticals. Sign in to access your portfolio
Fashion United
28-04-2025
- Business
- Fashion United
Plant-based colourant manufacturer Sparxell wins ChangeNow ‘Coups de Cœur'
Sparxell, an LVMH-backed, plant-based colourant tech firm, has won ChangeNow's 'Coups de Cœur' recognition award in the fashion category, and has further been named among the organisation's Change100 winners for 2025. The list, a round up of the top sustainability startups to watch this year, evaluates solutions based on their positive impact addressing the UN's Sustainable Development Goals, while the award then intends to highlight the firm's 'game-changing potential to transform the fashion industry'. The honours were announced at the ChangeNow Summit in Paris on April 25, where results were revealed on the basis of decisions made by a panel of experts. In a statement, founder and CEO of Sparxell, Benjamin Droguet, said the recognitions validated the company's 'mission to revolutionise how industries approach colour'. Droguet continued: "This comes at a pivotal moment as we scale our technology to transform how the entire fashion industry approaches colour. Through this innovation, we're not just creating sustainable products—we're helping shape a world where beautiful, high-performance materials work in harmony with nature rather than against it." Sparxell has been growing rapidly since its founding in 2022, aligning with increased demand for more eco-friendly solutions in colourants. The company, which recently secured a 1.9 million euro grant from the European Innovation Council, already works with the likes of LVMH on strategic partnerships with luxury brands.
Leaders
28-01-2025
- Business
- Leaders
Saudi Fashion Pioneers Honored at Kering Awards for Sustainability
Saudi Arabia celebrated its sustainability champions at the inaugural Middle East Kering Generation Award ceremony in Riyadh on Monday. The event, co-hosted by French luxury giant Kering and the Saudi Fashion Commission, recognized AMUSED, Darah, and Asteri for their innovative contributions to eco-conscious fashion. Award-Winning Innovations AMUSED, a preowned luxury marketplace, connects buyers and sellers to combat fashion's environmental footprint through a circular economy model. Darah, an upcycling startup, transforms damaged clothing into unique pieces, while Asteri offers desert-proof vegan makeup with refillable packaging certified by B Lab. The awards stem from a 2024 MoU between Kering and the Saudi Fashion Commission to elevate sustainable practices. This alliance focuses on circular economy solutions, water protection, and customer engagement, aligning with Saudi's Vision 2030 goals. Winners will visit Paris for mentorship with Kering's sustainability teams and showcase innovations at April's ChangeNow Summit. Localized Solutions Meet Global Standards Burak Cakmak, CEO of the Fashion Commission, emphasized the winners' alignment with Saudi culture and their introduction of novel regional concepts. Darah's CEO Rawan Alderaibi highlighted her shift from corporate life to addressing Saudi's untapped secondhand market, now expanding into a recycling factory. Saudi Arabia's push for sustainable fashion includes initiatives like the GFX Fashion Swap and KAUST's eco-textile research. These efforts reduce waste and water use, critical in a nation prioritizing resource efficiency. AMUSED co-founder Sara Teymoor noted the award's role in boosting confidence and fostering a 'green field' for Saudi fashion. Future Prospects: From Riyadh to Global Stages The winners' Paris trip underscores Saudi's growing influence in global sustainable fashion. Cakmak added that the Kingdom offers unparalleled growth opportunities, driven by local talent and strategic partnerships. With Vision 2030 as a blueprint, Saudi Arabia continues to redefine luxury through innovation and environmental stewardship. Short link : Post Views: 17
