SINGAPORE – Infinited Fiber, a spin out from the VTT Technical Research Centre of Finland which turns cellulosic waste into new textile fibres using a chemical process, has received new funding from RGE Pte Ltd – a company which also owns Asian viscose supplier Sateri, Asia Pacific Rayon and energy firm Pacific Oil & Gas.
RGE joins a group of other investors including H&M Group, Virala and Fortum in a bid to scale up its technology and a ‘strategic co-operation agreement’ has also been signed between RGE and Infinited Fiber.
“This new financing will enable us to finalise the scaling of the technology and to extend our fibre production capacity to enable global leading brands to bring capsule collections to the markets in 2020,” said Petri Alava, CEO of Infinited Fiber.
Details of the size of the investment were not disclosed, although in total Infinited Fibers says it has raised €8 million of funds this year, including €1.96 million recently awarded by the European Innovation Council (EIC).
