3 Scandinavian innovative companies changing the fashions scene (and you might be able to invest in)
It is clear that the fashion industry needs to change in so many areas and for so many reasons. Investments are needed to be able to make the transition. The report “Investor brief: Sustainability in textiles and fashion” summerises four key areas where investments are necessary; new business models that extend the lifespan of garments, new resource efficient and innovative production techniques, new technology for recycling materials and technology that supports information sharing for transparency.
Most of the carbon emissions from textiles clothing happens during production, 80 %, so the best way to reduce emissions is to avoid producing new clothes in the first place. In Sweden we are buying 13-14 kg of textiles per person and year, where these items are only used for a few years. Of the clothes we stop using, only a few kg goes to second hand or being recycled. Change in business models and consumers behaviour is essential.
We have listed three companies who are on the front line to make some change with new innovative recycled materials and colouring. Some of them are available for investments (for Swedes you can check out Nordent or Avanza to purchase stocks). However, this should not be seen as investment advice, rather a reminder that we can also make the world a more sustainable place through the investments and savings we choose to make.
Re:NewCell
Renewcell is a fast growing Swedish sustaintech company. The founders have researched a new way to produce bioethanol by finding new ways to decompose cellulose. They found that the cellulose in cotton and viscose could be decomposed. The company was founded in 2012 and in 2014 the first item (a yellow dress) walked on the runway (made from denim jeans). The patent material is called Circulose and the company is currently scaling up by building a huge factory in Sundsvall, Sweden.
We aRe Spin Dye
Founded by Martin Berling in 2014, this company is focusing on a new technology for colouring where the recycled polyester material gets colours before it is spun into a yarn. By melting color pigments and recycled polyester mass together, homogeneously coloured yarns are created, without the use of water. The method decreased the use of water by 75% in the whole production chain. The recycled polyester can be used water bottles or wasted clothes
Infinited Fiber Company
This textile-to-fibre company was founded in 2016 in Finland. Infinite Fiber takes cellulose rich waste and turns into Infinna, which feels and looks like cotton but has the scientific name of cellulose carbamate fiber. The company has won several awards such as WWF Climate Sovler, Cleantech Global 100 and has partnered brands such as H&M Group, Patagonia and Adidas.
The future looks bright and soon we might find ourselves in a world where no textiles go to waste.