Carbios | July 07, 2022
Carbios a pioneer in the development of enzymatic solutions dedicated to the end-of-life of plastic and textile polymers, has signed an agreement with On, Patagonia, PUMA, and Salomon, to develop solutions that will enhance the recyclability and circularity of their products.
An important element of the two-year deal will be to speed up the introduction of Carbios’ unique biorecycling technology, which constitutes a breakthrough for the textile industry. Carbios and the four companies will also research how products can be recycled, develop solutions to take-back worn polyester items, including sorting and dismantling technologies, and gather data on fiber-to-fiber recycling as well as circularity models.
The challenge the four brands share, is that their ambitious sustainable development goals can only partially be met by conventional recycling technologies which mostly target bottle-to-fiber recycling. Future regulations will require more circularity in packaging and textile. Yet the market consensus is that there will soon be a shortage of PET bottles, as they will be used for circular production methods in the Food & Beverage Industry.
Carbios’ innovative process constitutes a real technological breakthrough for the recycling of polyester fibers, which are widely used in apparel, footwear and sportswear, on their own or together with other fibers. PET polyester is the most important fiber for the textile industry with 52 MT produced, even surpassing cotton at 23MT1. The biorecycling process uses an enzyme capable of selectively extracting the polyester, recovering it to recreate a virgin fiber. This revolutionary technology makes it possible to recover the PET polyester present in all textile waste that cannot be recycled using traditional technologies.
PET plastics and fibers are used to make everyday consumer goods such as bottles, packaging and textiles. Today, most PET is produced from fossil resources, then used and discarded according to a wasteful linear model. By creating a circular economy from used plastics and fibers, Carbios’ biorecycling technology offers a sustainable and more responsible solution.
“This Consortium model has proved to be very efficient based on the success of the milestones previously achieved in packaging. We are very pleased to partner with these prestigious brands, On, Patagonia, PUMA, and Salomon. Our common goal is to contribute to reducing the environmental impact of the textile industry by offering an industrial solution to recycle polyester fibers and help our partners to meet their sustainable development goals.”
Emmanuel Ladent, Chief Executive Officer of Carbios
Adrianne Gilbride, Senior Sustainability Manager at On, noted “On is committed to becoming fully circular before the end of the decade. Our partnership with Carbios and the other consortium members is an important step towards enabling the industry to game-changing circular technologies at scale. Fiber-to-fiber recycling is a key building block in closing the loop within the textile and footwear industry".
Natalie Banakis, Materials Innovation Engineer Patagonia, adds “At Patagonia we are actively using our business to “save the Home planet”. We are excited to partner with Carbios and the textile consortium to work collaboratively to reduce waste produced by textiles. The textile waste problem is bigger than one company or solution, and Patagonia is excited to be working in a new format to solve this problem.”
Howard Williams, Director Global Innovation Apparel and Accessories at PUMA adds, ”As part of our Forever Better sustainability strategy, we aim to use 75% recycled polyester in our Apparel and Accessories by 2025. The partnership with Carbios and their innovative biorecycling methods offer a promising approach to reach our goals and make our industry as a whole more circular.”
Olivier Mouzin, Footwear Sustainability Manager at Salomon, concludes, ”At Salomon, we provide advanced sports solutions for all the outdoor participants, from the elite to the enthusiasts. Therefore, it is a natural decision for us to join this consortium made up of clothing and footwear companies, as well as Carbios, to form a new organization for advancing textile recycling that will help create a sustainable future for all Outdoor players. Our goal in joining the consortium is to bring awareness to the end-of-life of textiles, with the ambition of establishing true circularity within the textile industry. The companies in the consortium aim to do this by discovering ways to recycle fibers from one product into another. Partnering with Carbios—a green chemistry leader offering a bio-recycling process that recycles apparel and footwear materials into thread for new products—better enables us to accomplish this goal.”
Established in 2011 by Truffle Capital, Carbios is a green chemistry company, developing biological and innovative processes. Through its unique approach of combining enzymes and plastics, Carbios aims to address new consumer expectations and the challenges of a broad ecological transition by taking up a major challenge of our time: plastic and textile pollution.
Patagonia is a Certified Benefit Corporation based in Ventura, CA that is recognized internationally for product quality and environmental activism. Patagonia has contributed more than $145 million in grants and in-kind donations to date to grassroots nonprofits working to protect people and the planet.
PUMA is one of the world’s leading sports brands, designing, developing, selling and marketing footwear, apparel and accessories. For more than 70 years, PUMA has relentlessly pushed sport and culture forward by creating fast products for the world’s fastest athletes. PUMA offers performance and sport-inspired lifestyle products in categories such as Football, Running and Training, Basketball, Golf, and Motorsports. It collaborates with renowned designers and brands to bring sport influences into street culture and fashion. The PUMA Group owns the brands PUMA, Cobra Golf and stichd. The company distributes its products in more than 120 countries, employs about 16,000 people worldwide, and is headquartered in Herzogenaurach/Germany.
Born in the French Alps in 1947, Salomon is committed to pushing the boundaries of mountain sports through the creation of innovative equipment that allows people to play, progress and challenge themselves in their chosen outdoor sports. The company produces and sells premium footwear, winter sports and mountaineering equipment, hiking equipment, and apparel specifically designed for all those disciplines. Products are developed in the company’s Annecy Design Center, where engineers, designers and athletes collaborate to create innovative solutions that continually improve the outdoor experiences of those who see nature as a vast playground.
Novoloop | June 03, 2022
Advanced upcycling startup Novoloop expands its Series A to $21 million through an oversubscribed extension led by Mistletoe Singapore and Hanwha Solutions. This nearly doubles the company's raise of $11 million announced in February, which sparked additional investor interest.
"This round brings together mission-driven financial investors and industry strategics who believe in our vision of a circular economy for plastics. We're thrilled to make that vision a reality by leveraging their access to resources and markets around the world."
CEO Miranda Wang
The round's investors are decarbonizing energy, textiles, construction, and other industries across Europe, Asia, and the US. Valo Ventures' anchor LP Fortum is a hundred-year-old, publicly-listed clean energy and resource efficiency solution provider headquartered in Finland; SOSV is the world's leader in climate tech investing; Drive Catalyst is the corporate venture arm of the Far Eastern Group, a global player in the polyester and textile industries and PET recycling headquartered in Taiwan; and Alante Capital and S CAP are climate investors focused on deep tech.
"Leading this round was obvious," said Taizo Son, founder of Mistletoe. "After seeing Novoloop emerge from R&D with a product that solves real world problems, Mistletoe is a firm believer in the financial and environmental impact the company will create. We're already looking at ways to amplify this impact in places that really need it like Asian countries where the economy is fast-growing and the waste problem is serious."
Novoloop uses its proprietary ATOD™ technology to make high-performance chemicals and materials from polyethylene, which is the most commonly used yet least recycled plastic. Their first product, Oistre™ (pronounced OYST-rah), is the world's only thermoplastic polyurethane (TPU) made from post-consumer waste that matches the performance of TPUs derived from petrochemicals.
With a carbon footprint up to 46% smaller than conventional TPUs, Oistre won the Plastics Industry Association's 2022 People's Choice award for Sustainable Plastic Innovation. It also put Novoloop in the World Economic Forum's 100 most promising Technology Pioneers of 2022.
"Hanwha has done an extensive assessment of the advanced plastic recycling landscape. Novoloop's technology is solid and unique," said Hanwha Solutions' spokesman. "We look forward to collaborating with Novoloop on upcycling carbon content in waste for the circular economy."
Novoloop will use the capital to begin developing industrial capabilities. Key initiatives include scaling up pilot production to make Oistre more readily available for customers in footwear, apparel, sporting goods, automotive, and electronics. It will also set up a feedstock pretreatment unit to assess the quality of post-consumer plastic waste from material recovery sources.
Other Series A investors announced earlier this year include Envisioning Partners, Bemis Associates, and TIME Ventures.
Novoloop was founded in 2015 to deliver quality chemicals and materials made from plastic waste through ATOD™, their patented, low-carbon upcycling technology. By transforming hard-to-recycle plastic waste into virgin-quality materials, Novoloop offers superior sustainability and performance at competitive pricing. With their upcycled product Oistre™, Novoloop provides thermoplastic polyurethane solutions for footwear, sporting goods, automotive and more. To learn more, visit novoloop.com and oistre.com.
About Hanwha Solutions
Hanwha Solutions aims to deliver sustainable solutions for the planet through smart energy solutions and customer-focused materials. The Company operates its business through five divisions: Qcells, Chemical, Advanced Materials, Galleria and City Development. The Qcells Division offers total energy solutions from photovoltaic module manufacturing, power plant operation to electricity retailing service. The Chemical Division, the first in Korea to produce polyvinyl chloride (PVC), manufactures various chemical products and eco-friendly plasticizers. The Advanced Materials Division produces high-tech materials for automotive, photovoltaic and electronic devices. The Galleria Division, an operator of premium department store chain, provides premium fashion and food services. The City Development Division is a leading real estate developer specializing in industrial complexes. With its innovative technologies for sustainable growth, Hanwha Solutions strives to become a global leader in bringing a better future for humanity.
Founded by Taizo Son, Mistletoe is a Collective Impact Community based in Japan and Singapore with a mission to create a sustainable human-centered future using deep technologies. Their international community comprises more than 400 entrepreneurs, investors, researchers, and visionaries who are at the forefront of the global startup movement. They are building an environment for various talents to come together and discover solutions to societal challenges that are impossible for single companies to solve alone.
RISK AND COMPLIANCE
Umicore | June 23, 2022
Umicore and Idemitsu Kosan Co., Ltd have agreed to jointly develop high-performance catholyte materials for solid-state batteries, combining their respective expertise in cathode active materials and solid electrolytes, and aiming to provide the technological breakthrough to extend the driving range and thereby propel e-mobility.
Umicore brings its world-leading expertise in a variety of cathode active materials for lithium-ion batteries, while Idemitsu Kosan brings its know-how in solid electrolytes as a key material for all-solid-state lithium-ion batteries. Umicore has been working on solid-state CAM chemistries since 2017 and holds multiple key patents in this technology field. Idemitsu Kosan has an established method for manufacturing high-purity lithium sulfide, which it developed in its petrochemical business, and holds many patents for sulfide solid electrolytes that use lithium sulfide as their raw material.
“Umicore laid its foundations in battery materials almost 30 years ago and thanks to our own research and strong global open innovation footprint, we are at the forefront of various lithium-ion battery technologies that help decarbonize transport. Our partnership with Idemitsu enhances our innovation and technology leadership to support our customers in their clean mobility transformation through solid-state battery power,”
Mathias Miedreich, CEO of Umicore
“Based on more than 20 years of experience, Idemitsu has developed the technology of sulfide solid electrolytes and holds many patents related to sulfide solid electrolytes. Solid electrolytes will contribute as a key material for the “electrified society”, through ASSB. The joint development between Umicore and Idemitsu will play an important role in the acceleration of activities in this field,” said Hajime Nakamoto, Managing Executive officer of Idemitsu.
Catholytes combine cathode active materials and solid electrolytes. The more intimate contact between these two components would enable the solid-state battery to achieve better performance. Solid-state batteries are the next-generation batteries with performance improvements on several fronts. In cars, for example, their higher energy density will increase the driving range and allow for faster charging. The replacement of today’s liquid electrolyte with a solid one will enhance the safety and lifespan of batteries, reduce their size, weight and ultimately, cost.
Umicore is the circular materials technology company. It focuses on application areas where its expertise in materials science, chemistry and metallurgy makes a real difference. Its activities are organised in three business groups: Catalysis, Energy & Surface Technologies and Recycling. Each business group is divided into market-focused business units offering materials and solutions that are at the cutting edge of new technological developments and essential to everyday life.
Umicore generates the majority of its revenues and dedicates most of its R&D efforts to clean mobility materials and recycling. Umicore’s overriding goal of sustainable value creation is based on an ambition to develop, produce and recycle materials in a way that fulfils its mission: materials for a better life.
Umicore’s industrial and commercial operations as well as R&D activities are located across the world to best serve its global customer base. The Group generated revenues and employed 11,050 people in 2021.
Idemitsu is one of Japan’s leading producers and suppliers of energy and materials. Our global operations, spanning 67 business bases across 20 countries and regions outside of Japan, encompass Petroleum, Basic Chemicals, Functional Materials, Power & Renewable Energy, and Resources.
Twelve | July 04, 2022
Twelve, the carbon transformation company, is announcing $130 million in Series B and additional funding to scale the engineering, manufacturing, and deployment of its industrial-scale carbon transformation technology for the creation of a wide range of products with a lower carbon footprint.
Twelve’s carbon transformation technology converts captured CO2 into products historically made from fossil fuels. According to research from Columbia’s SIPA Center on Global Energy Policy, replacing fossil feedstocks in the production of chemicals, materials, and fuels with renewable carbon from point source or direct air capture could avoid nearly 10 percent of global greenhouse gas emissions. Twelve is currently transforming emissions into products for the automotive, household and apparel industries, as well as for government entities and global technology companies, by replacing petrochemicals and fossil-based transportation fuels with CO2Made® materials and carbon-neutral fuels like E-JetⓇ.
“Companies and governments no longer need to rely on fossil fuels for the carbon that goes into everything from apparel and cleaning products to electronics and jet fuel. This fresh funding ensures we can reach industrial scale to help new and existing partners achieve rapid emissions-reduction.”
Twelve Co-Founder and CEO Nicholas Flanders
Twelve’s partners include Mercedes-Benz, Procter & Gamble, Shopify, the U.S. National Aeronautics and Space Administrationand the U.S. Air Force, all of which use Twelve’s breakthrough carbon transformation technology to reduce emissions and create CO2Made products.
“As more companies and organizations adopt carbon-neutrality targets, they urgently need technologies like Twelve’s to rapidly green supply chains and corporate travel to reduce emissions at scale,” said Zachary Bogue, Managing Partner, DCVC. “Since leading Twelve’s seed round in 2018, we’ve only become more confident that their technology offers businesses a critical solution for not just offsetting emissions, but eliminating them.”
The new funding follows Twelve’s first commercial products, a line of CO2Made sunglasses with sustainable fashion brand PANGAIA, and carbon-neutral sustainable aviation fuel (SAF), E-Jet. Twelve was recently recognized by Fast Company as the world’s #1 most innovative energy company of 2022 and as a BloombergNEF Pioneer in the Decarbonizing Aviation category.
“Delivering low-carbon sustainable products consumers desire will require scaling innovative solutions such as Twelve’s carbon transformation technology.” said Todd Cline, Senior Director of Sustainability, for Procter & Gamble Fabric Care. “We’re glad to see Twelve given the opportunity to expand their opportunity to impact a broad variety of sustainable consumer products enabled by their technology.”
“Twelve has the potential to disrupt petrochemical supply chains by creating a wide range of materials from carbon emissions instead of fossil fuels,” said Udo Gayer, Manager of New Business in Production Planning at Mercedes-Benz Cars. “The potential impact of their technology is immense, and I’m glad to see them receive the funding to continue scaling their technology.”
DCVC led Twelve’s Series B financing, with participation from Series A lead investors Capricorn Technology Impact Fund and Carbon Direct Capital Management. Breakout Ventures, Munich Re Ventures, Elementum Ventures, and Microsoft Climate Innovation Fund also participated. In addition, Twelve secured a Series B and strategic program investment from the Chan Zuckerberg Initiative (CZI).
“Carbon transformation has the potential to turn CO2 from a harmful waste stream into useful products for the global economy,” said Jonathan Goldberg, CEO of Carbon Direct. "With the costs of carbon capture, renewables and electrolyzers continuing to fall, Twelve’s technology stands to play a crucial role in decarbonizing some of the hardest-to-abate industries.”
To help drive Twelve’s industrial scaleup, the company just announced additions of key industry veterans to its leadership team: Anne Roby, Independent Board Director and former Linde executive; David Frank, Chief Productization Officer and former Cummins director; and Ram Ramprasad, Chief Commercial Officer and former Linde executive.
Twelve is the carbon transformation company, a new kind of chemical company built for the climate era. We make essential products from air, not oil. Our groundbreaking technology eliminates emissions by transforming CO2 into critical chemicals, materials and fuels that today are made from fossil fuels. We call it carbon transformation, and it fundamentally changes how we can address climate change, reduce emissions and reverse the carbon imbalance. Reinventing what it means to be a chemical company, we’re on a mission to create a climate positive world and a fossil free future through the power of chemistry.