Fairbrics raises over EUR6.5m to develop carbon-neutral fabrics for the fashion industry
Summary
Proceeds from the raise will be used to construct a pilot plant capable of manufacturing over 30 tonnes of polyester a year, using the companys proprietary technology to produce a key raw material from CO2 and green hydrogen. The Company is partnering with key consumer brands to incorporate its polyester into marketable fabrics, under the name Airwear.The fashion industry presents a major challenge on the journey to net zero, currently accounting for around 5% of global anthropogenic carbon dioxide emissions. Thank you to AP Ventures, H&M Group, Sake Bosch and all our earlier seed investors for their help to fight climate change and create a sustainable future for this industry! Today, the company consists of a passionate team of scientists, engineers, and business-minded people with vast expertise within molecular chemistry, large-scale materials manufacturing and bringing new products to market. By capturing and utilising carbon dioxide emissions, Fairbrics is developing a synthetic fibre of tomorrow to help tackle climate change.For further information, please contact: Beno\xeet Illy, Co-Founder and CEO, benoit.illy@fairbrics.coAP Ventures is headquartered in London and manages venture capital funds with a global mandate to invest in pioneering new technologies and businesses which aim to solve global challenges such as renewable energy integration, resource scarcity and a growing population.