SHANGHAI – Sateri, the world’s largest viscose producer, is continuing its collaboration with Finnish technology group Infinited Fiber Company and participated in its latest €30 million funding round completed on 30 June 2021. In addition to existing investors like Sateri and H&M, Infinited has attracted new investors including adidas and Bestseller.
“We started our collaboration in 2019 as a significant investor in the previous funding round and we are excited to continue our collaboration with Infinited as part of our Sateri Vision 2030 commitment towards closed-loop, circular and climate-positive cellulosic fibres,” said Allen Zhang, President of Sateri. “This financing round marks a major milestone for both companies as we seek to scale up next-generation fibre solutions.”
“We are really happy to welcome our new investors, and grateful for the continued support from our existing investors,” added Petri Alava, Infinited co-founder and CEO. “We see significant promise in our technology for major fibre producers, and we look forward to the continued collaboration with Sateri.”
The funding follows Infinited’s April announcement of plans to build a flagship factory in Finland in response to the strong growth in demand from global fashion and textile brands for its regenerated fibre Infinna fibre. The factory, which will use household textile waste as raw material, is expected to be operational in 2024 and to have an annual production capacity of 30,000 metric tons.
The new funding enables Infinited to carry out the work needed to prepare for the factory and to increase production at its pilot facilities in the years leading to 2024. The engineering progress supported by the additional funds also accelerates ongoing collaboration and potential technology licensing with Sateri.
Sateri has developed and produced a diverse range of circular and sustainable products including Lyocell and Finex, which is made from recycled textile waste. The in-house R&D efforts and the investment in Infinited are part of owner RGE’s $200 million investment commitment to advance next-generation fibre innovation and technology.
Sateri is the world’s largest producer of viscose fibre for textiles, baby wipes and personal hygiene products. Its five mills in China collectively produce about 1.5 million tons of viscose fibre annually, along with textile yarns, spunlaced nonwoven fabrics and Lyocell fibre.