They join previous investors H&M Group, investment company Nidoco, and China-based viscose producer Sateri.

This securement of new funding follows Infinited Fiber Company’s April announcement of plans to build a flagship factory in Finland in response to demand from brands for its regenerated textile fibre Infinna.

Infinna is made from cellulose-rich waste that would otherwise be landfilled or burned - including old textiles, crop residues like rice or wheat straw and cardboard – broken down to polymer level, forming a new cellulose carbamate 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. 

Infinited Fiber Company co-founder and CEO Petri Alava, said: “These new investments enable us to proceed at full speed with the pre-engineering, environmental permits and the recruitment of the skilled professionals needed to take our flagship project forward. We can now also boost production at our pilot facilities so that we can better serve our existing customers and grow our customer-base in preparation for both our flagship factory and for the future licensees of our technology.”