Home / Knowledge / News / Textiles / Nanollose raises Au$5 mn to develop sustainable fibre
Nanollose raises Au$5 mn to develop sustainable fibre
11
Oct '17
Courtesy: Nanollose
Courtesy: Nanollose
Australian company Nanollose Ltd has raised Au$5,000,000 from investors, with ambitions to commercialise its sustainable fibre technology after an IPO on the Australian Securities Exchange expected for October 18. The amount would be used to advance fibre development, with the vision of contributing a positive change in the global textile and fashion markets.
 
Nanollose is developing a world-first plant-free fibre that is set to become a sustainable alternative to commonly used fibres such as cotton.
  
"Today, we use plants and trees for fibres to make clothes and textiles, with manufacturers having limited alterative eco-friendly options available to them,” says Alfie Germano, chief executive officer of Nanollose. “We don’t have to cut down trees and plants to create our plant-free cellulose fibre, and it can be used in the same way as other fibres to make clothing and textiles but with a dramatically reduced environmental footprint.”
 
Nanollose’s plant-free cellulose fibre is created using microbes that convert biomass waste products from the beer, wine and liquid food industries into cellulose, in a process that requires very little land, water or energy. A production cycle is just 18 days, compared to the eight months seen in the cotton industry.
 
“We are the only company we know of looking to produce plant-free cellulose fibres, and I truly believe that Nanollose success will be a success for the global textile industry,” says Germano.
 
The newly-raised funds will be used to accelerate the development of the company’s fibre technologies and build production supply chains with key partners, who will license and grow the fibre. “The funds will accelerate our development and get us to a point where we could offer our fibre as a sustainable alternative to that of fibres derived from cotton and wood,” adds Germano who has held several positions at some of the largest global apparel brands including Gap.
 
“We are a technology company, not a production company, and the funds we are raising will go towards creating an end-to-end supply chain with key partners,” he said. “The goal is to then feed our sustainable alternative into the global industries with little to no retrofitting to existing machinery or processes.” (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

'Sportswear is much more mainstream than earlier'

Fashion | On 20th Jul 2018

'Sportswear is much more mainstream than earlier'

The business of sportswear has evolved at a fast pace over the years. ...

Courtesy: YKK

Textiles | On 20th Jul 2018

Japanese firm YKK explores opening office in Uzbekistan

Japanese company YKK recently discussed with the Uztuqimachiliksanoat ...

HFPA alerts member firms on latest US tariff announcement

Textiles | On 20th Jul 2018

HFPA alerts member firms on latest US tariff announcement

The US Home Fashion Products Association (HFPA) has alerted its...

Interviews View All

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search