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PARIS – Faibrics, a French chemical company which is developing technology that converts CO2 emissions captured from industrial processes into polyester, has raised €22m to scale its work. €17m of this is from the European Union’s Horizon 2020 Research & Innovation programme and the remainder is from the Partners to the Technology Upscaling Project.

Faibrics is using CO2, hydrogen and electricity to produce ethylene glycol – one of the two chemicals (the other being terephthalic acid) used to produce polyester. It is claimed the CO2-based polyester allows a reduction in carbon footprint of 70 per cent compared to fossil-based polyester.

The polyester produced is identical to virgin polyester from fossil fuels, a spokesperson from Faibrics told Apparel Insider, and once scaled they forecast their polyester will be price-competitive with virgin polyester from oil.

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