COLOMBO – In a potentially ground-breaking deal, MAS Holdings, South Asia’s largest textile manufacturer, has agreed a US$2.5m investment in Swiss textile innovator HeiQ’s AeoniQ “climate-positive” cellulosic yarn. MAS has also agreed to order US$100m of the new yarn over a five-year period, subject to meeting certain conditions. This will include 3,000 tons in 2025 and then 5,000 tons per year each year 2026 to 2029 in a non-binding off-take agreement.
In Q4 2021, HeiQ’s launched the HeiQ AeoniQ technology which has been attracting the attention of major global players in the textile and clothing industries.
It includes a proprietary manufacturing method using a cellulosic filament yarn made from a wide range of non-valorized feedstock. This, it is claimed, is able to reproduce comparable performance features of polyester or nylon, while “being sustainable and endlessly circular.”
The HeiQ AeoniQ pilot plant in Austria has been manufacturing this continuous cellulosic filament yarn since Q3 2022, with a 100 tons capacity to be upscaled to 300 tons by the end of 2023.
The HeiQ AeoniQ production scale-up is planned to have a major boost by early 2026 with the construction of an entirely new giga-factory capable of a 30,000-ton output per year, in a US$250m investment.
Carlo Centonze, CEO of HeiQ Group, said: “Since the beginning, HeiQ has pioneered textile innovation, revolutionizing sustainable functionality and enhancing the lives of billions. Now, with the introduction of HeiQ AeoniQ, we solidify our unwavering commitment to disrupting the textile industry—a sector that has long held the dubious distinction of being the world’s second-largest polluter. MAS’ investment serves as resounding proof that leading textiles value chain players recognize HeiQ AeoniQ as the ultimate game-changer, placing their trust in its transformative power.”
Group chief executive officer of MAS Holdings, Suren Fernando adds: “MAS was built on the foundational belief of doing the right thing. As a global organisation nurturing over 100,000 individuals, we are convinced of our responsibility to drive positive change within the apparel industry through sustainable product solutions. We believe that this investment is an important step in our efforts to reshape our industry by driving innovation, collaboration, and scale. With HeiQ AeoniQ as a key catalyst, we are poised to pave the way for a more sustainable future.”
