Successful business ventures Matterr, a German firm specializing in recycled polyester, receives funding from a top-selling entity.
Bestseller, the Danish fashion giant behind popular brands like Jack&Jones, Vero Moda, and Name it, has made a significant stride towards sustainability in the fashion industry. The company has announced investments in Matterr, a young German polyester recycling company, as part of its commitment to advancing textile recycling.
The exact amount invested by Bestseller in Matterr has not been disclosed, but the company has allocated up to 240 million Danish crowns (32.1 million euros) for recycling and next-generation material initiatives. This investment is in addition to the 32 million euros Bestseller has already invested in similar initiatives.
Matterr, the recipient of a 30 million euro grant from the European Union, is poised to launch its first processing plant. The plant, set to open by 2026, will operate with a small-scale capacity initially. Matterr's polyester recycling process is unique in that it recovers up to 95% of the recycled residue, offering a higher quality residue compared to mechanical recycling.
Dorte Rye Olsen, Bestseller's sustainability director, expressed her enthusiasm for Matterr's solution, stating that these investments align with the fashion industry's goal of turning garments into new raw materials. She further emphasised the importance of the fashion industry taking responsibility and continuously reusing discarded materials.
The first processing plant by Matterr is expected to have a long-term impact on the fashion industry, according to Dorte Rye. She considers Matterr's solution to be beneficial for the entire industry, as chemical recycling technologies, like Matterr's, are often limited by volume.
It's worth noting that the name of the founder or CEO of Matterr is not found in the provided search results. Nonetheless, the investments were carried out through Invest FDW, Bestseller's innovation and investment platform.
These investments by Bestseller are part of its ongoing efforts towards sustainability in the fashion industry. Bestseller continues its efforts towards sustainability in the fashion industry through investments in recycling and next-generation material initiatives. With the launch of Matterr's first processing plant, the future of textile recycling is looking promising.
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