Latest news with #Taranis
Yahoo
11-03-2025
- Business
- Yahoo
Pact Group and BlockTexx Partner on Fashion Recycling in Australia
Plastic recycler and packaging manufacturer Pact Group has teamed with textile recycling technology company BlockTexx to develop garment recycling operations for fashion brands and retailers in Australia. The two Australia-based companies signed a memorandum of understanding to determine the feasibility of creating an end-to-end solution for discarded polyester and cotton-blend clothing. The operation would include collection, sorting and pre-processing used garments, then recycling poly-cotton, polyester and cotton pieces into raw materials. Those materials could then be converted into yarn for new clothing, non-food-grade plastic packaging or other applications. More from Sourcing Journal Circ Raises $25M in Oversubscribed Round led by Taranis 'This Isn't About Competition': Why Textile-to-Textile Recyclers Are Teaming Up Aussie Designer Rebecca Vallance Launches Denim Collection According to Seamless, an Australian clothing stewardship initiative, the country's garment industry manufactures and imports around 1.4 billion items of new clothing each year. Most of those items are made with non-renewable materials, and more than half of those garments end up in landfills, accounting for 200,000 metric tons of waste annually. Pact and BlockTexx each bring specialized expertise in recycling to the collaboration. Through its Retail Accessories division, Pact collects and redistributes used plastic hangers from retail stores to garment and accessory suppliers for reuse or recycling. 'Pact's existing presence in the global fashion supply chain through our Retail Accessories business enables us to expand our expertise across the garment supply chain beyond just hangers,' said Sanjay Dayal, CEO of Pact. 'This initiative with BlockTexx demonstrates our commitment to leading the circular economy through partnerships and collaboration to offer sustainable solutions for our customers.' Polyester recycling has proved difficult for the fashion industry to take on for several reasons, one being that most clothing containing the material is blended with other fibers such as cotton, making it harder to separate the polyester for recycling. Often, polyester goes through chemical treatments and finishes that can also interfere with recycling. BlocTexx developed a chemical recycling process for hard-to-recycle polyester and cotton blends, and currently recycles textiles at its facility near Brisbane for use in new clothing and agricultural applications, among other uses. Through this partnership, the two companies will conduct a feasibility study to assess Australia's garment collection supply chain, the technical requirements necessary to meet BlockTexx's recycling process and the suitability of using the resulting recycled raw materials in Pact's packaging products and other applications. Pact and BlockTexx said they hope to complete that study this year. 'This project aims to accelerate the fashion industry's shift toward more sustainable products by combining Pact's capabilities in sustainable retail supply chains with BlockTexx's textile recycling innovations,' said Adrian Jones, co-founder of BlockTexx. 'This could enable businesses in the fashion and textiles sector to transition to more sustainable and circular practices and assist in the reduction of CO-2 emissions and prevent unwearable textiles from going to landfill, both here and overseas.'
Yahoo
10-03-2025
- Business
- Yahoo
Circ Raises $25M in Oversubscribed Round led by Taranis
Circ just closed its latest investment round. The textile-to-textile recycler raised a cool $25 million in oversubscribed funding, led by asset management company Taranis and its Carbon Ventures fund, with continued support from existing strategic investors, including Inditex and global materials science firm Avery Dennison. More from Sourcing Journal 'This Isn't About Competition': Why Textile-to-Textile Recyclers Are Teaming Up WRAP Wants to Set the Industry Standard for Calculating Displacement Rates Swap Secures $40M Series B Funding The Fiber Club creator had secured $25 million two years ago during its 2023 Series B extension funding round, with participation from Taranis as well as the Zara parent brand, among others. In 2022, Circ raised more than $30 million in Series B funding in a round led by Breakthrough Energy Ventures, while the 2020 Series A round—which raised $8 million—was led by Patagonia's investment arm, Tin Shed Ventures. This latest funding, Circ said, will build on the 'major technical commercial progress' the polycotton textile waste pulp producer made over the past 18 months, as the additional funds will help 'fuel' the Mara Hoffman partner's push to scale its recycling technology as the startup works to 'transform' the industry's waste problem. For context, Circ's technology tackles blended textiles. Its hydrothermal process liquefies polyester before heat and pressure separate the liquid polymer from the solid cotton to reclaim the cellulosic and synthetic materials. The recycled cotton becomes fluffy flakes before its final form as a cellulosic pulp to use in lieu of the wood pulp traditionally used to make lyocell. The PET portion, meanwhile, can be pelletized and extruded into new fibers. 'This chapter of Circ's journey—scaling textile recycling to an industrial level—requires that we build on our proven technology with world-class engineering, operations, and strategic investment from mission-aligned partners,' said Peter Majeranowski, CEO of Circ. 'Taranis brings exactly that. Their industrial expertise, paired with our innovation, positions Circ to accelerate the transition to a circular fashion economy.' The self-proclaimed single demonstrator of successfully recycling polycotton to recover both fractions for textiles said its partnership with the Perenco Group-owned firm brings more than money to the table. Taranis will leverage its experience in developing and operating large industrial projects—including engineering high-volume processes—to help Circ launch its first industrial-scale blended textile recycling plant. Dedicated to 'sustainable industrial solutions,' Taranis views Circ's model as a crucial element in the industry's effort to make its supply chains less resource-intensive and environmentally-exhaustive. To that end, the carbon circularity company will give the Pyratex partner's processes 'direct technical validation' to fast-track the transition from demonstration-scale to industrial-scale production. 'Circ has developed and demonstrated a breakthrough solution for circularity in fashion, and we believe our industrial expertise can help take it to the next level,' said Emmanuel Colombel, CEO of Taranis. 'Our goal is to support scalable, pragmatic technologies that reduce waste and emissions. Circ's vision aligns perfectly with that mission, and we're excited to support Circ in its journey toward a more circular and responsible fashion industry.' Sign in to access your portfolio
