ComWest invests in organic dye & fiber technology
ComWest Enterprise Corp. is pleased to announce that it has made an initial equity investment of US$1 million in a private corporation, based in Raleigh, North Carolina, operating under the trade name Ploughboy Organicstm.
Ploughboy is the owner of a patent pending technology developed by its founder and CEO, Suzanne DeVall, which can convert the tobacco plant into dyes, fibers, textiles and other products with minimal environmental impact.
The Ploughboy technology opens up an opportunity for the tobacco plant, which has never before been used to produce fiber or dyes, to become a new global and renewable raw material resource.
The textile industry is in need of alternative sources of dyes and fibers which are sustainable, organic and non-toxic. Eco-friendly products continue to be a key growth driver for the dye and textile industry, highlighted in many reports and by research groups internationally.
Analysts, Inc. has said the global market for textile dyes alone is projected to reach US$5.5 billion by the year 2015, driven in part by innovative eco-friendly dyes and chemicals, and resurgence in post-recession demands. Cotton is still the fiber of choice, with global sales of "organic" cotton apparel and home textile products reaching an estimated US$4.3 billion in 2009 - a 35% increase over 2008.
Environmentally conscious consumers, businesses and governments want innovative textile and apparel products that meet their expectations for fashion and performance from sustainable, natural, eco-friendly "green" materials. The unique properties of the tobacco plant and its ability to be grown in a certified organic manner, allows the plant to be used in its entirety to produce fiber and dyes with minimal environmental impact and waste.
Additionally, it is naturally antimicrobial and produces natural, beautiful organic dyes creating the opportunity to develop truly certified organic clothing that encompasses both the dying as well as the production of fibers that can be blended with cotton, wool, silk and cashmere.
With the assistance of research performed at North Carolina State University, the Ploughboy technology has achieved the proof of concept stage with respect to the production capability for organic dyes and fibers.
Pre-commercial production of dye concentrate is expected to be in place by this summer, allowing Ploughboy to produce sample dye orders to major retail brands and textile manufacturers and be in a position to expand its reach and capacity through license agreements with major dye houses in North America and abroad.
The World Bank estimates that 17-20 percent of industrial water pollution comes from textile coloration and treatment.
The Ploughboy innovation could have a positive impact on this worldwide environmental problem since the tobacco plant can be grown in most agricultural regions of the world as a fiber and dye resource with the potential to support and revive depressed agricultural communities and bring processing and manufacturing jobs to the region.
ComWest is a profitable dividend paying corporation that has operated in the garment industry since its acquisition of Peerless Garments LP in August 2010.
ComWest Enterprise Corp