WINTERTHUR – Textile recycling innovator Worn Again Technologies has secured £27.6 million (US$30.8m) in funding, which will be used to support the construction of its demonstration plant in Winterthur, Switzerland.
The financing, provided by existing partners and its main stakeholders, marks the start-ups most successful funding tranche and is expected to accelerate efforts to increase its capacities.
Worn Again’s CEO, Erik Koep, commented: "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 poly-cotton materials.”
