GOTHENBERG – Infinited Fiber Company (IFC) has signed a major deal with one of Europe’s leading fashion brands, Lindex. The multi-year offtake agreement is for Infinna fibre, which is produced from post-consumer textile waste.
IFC is building a €220m factory in Finland which is set to produce up to 30,000 metric tonnes of its patented Infinna fibre per year.
“Infinited Fiber has the technology and opportunity to close the loop and turn post-consumer textile waste into new high-quality cotton-like raw material. This is a great opportunity, not only for Lindex but for the entire textile industry. Together we can drive positive change in the textile industry all while continuing our circular journey and minimising our environmental impact,” said Annette Tenstam, strategic lead circularity & environmental sustainability, at Lindex.
“We are proud to partner with forward-looking brands like Lindex, who make commercially binding commitments to buying Infinna from our future factories. Trailblazers like them have shifted their thinking and purchasing behavior to enable the transformation of fashion. Following their lead, each link in the textile value chain should turn their mindset from linear towards circular. We warmly welcome Lindex into our growing ecosystem of gamechangers,” said Kirsi Roine, key account director at Infinited Fiber Company.
This is an extract of our analysis of IFC taken from the Textile Recycling Guide: “There is a lot to like about Infinited Fiber Company from an investment perspective. When we spoke to the company, they were very open and forthcoming in answering our questions and candid about the challenges faced by novel recycling technologies looking to scale.
“People we reached out to when writing this report spoke very highly of the company, its leadership team and, perhaps most importantly, its product.
“The obvious strengths of the business are its progress in terms of the impending development of a commercial factory. Key here is that it has major purchasing agreements in place with some of the world’s leading fashion brands and these give Infinited Fiber Company some financial breathing space. They are a huge vote of confidence in Infinna, the company’s flagship product.
“The company told us it now has what it terms “uptake agreements” for 60 per cent of its Infinna output covering its first five years of commercial operation.”