SHANGHAI – NTX, a global textile technology business, has announced the completion of a US$200m funding round led by Centurium Capital. Additional funding was provided by existing shareholder NRL Capital. The funds will be used to fund operational needs to meet the rising demand of an expanding customer base.
NTX specialises in textile digital transfer printing and dyeing technology, and has more than 70 domestic and global inventions and application patents. The company has introduced a waterless dyeing and printing system that delivers up to 90 per cent in water savings, alongside reduction in energy usage and virtual elimination of water waste. NTX has also established a Southeast Asia-based ecosystem of textile processing plants which, the business claims, will, “become the next generation sustainable eco- friendly supply chain partner for some of the world’s biggest fashion and apparel brands.”
The funding was secured after the company successfully became a preferred supplier to global international brands such as Adidas.
Gary Liu, managing director of Centurium Capital, said: “Through its proprietary dyeing technology, NTX brought about revolutionary innovation to the global textile supply chain, effectively solving the long-standing pain points of traditional textile manufacturing of high water and energy consumption and pollution. In addition, NTX adds significant value to the industry by helping improve their production efficiency and service capabilities. With ESG as an integral part of our ‘invest to transform’ investment thesis, we look forward to a long-term partnership with NTX to make positive contributions to the sustainable development of the global textile supply chain. “
Kalvin Chung, chairman and co-founder of NTX, commented: “We welcome the latest round of funding and we’re excited about the future of NTX. Over the years we’ve seen NTX Cooltrans mature into a solution that satisfies and exceeds the requirements of some of the most demanding global brands in the marketplace. Just as important, has been the development of our business models that today give us a clear path to scale up NTX into a global supply chain solution provider.”
NTX hopes to support a host of initiatives which have arisen in South East Asian countries in the past few years, exemplified by Vietnam Textile and Apparel Association (VITAS) setting a 2030 goal of reducing energy consumption by 15 per cent and water consumption by 20 per cent.
In South-East Asia, the most recent joint venture of NTX was with Luen Thai under the name Luentech Textiles Solutions (LTS). The pair have set up a new state-of-the-art NTX Cooltrans facility in Cambodia to expand production capacity and satisfy growing demand for more sustainable textile supply chain partners. The facility is the first of its kind to be designed entirely around the newest iteration of its waterless coloration technology.