Renewcell net sales up 185% in Q2
Sweden’s Renewcell, the developer behind Circulose-branded dissolving cellulose pulp made from 100% cotton-rich textile waste, has announced net sales growth of 185.5% for the second quarter (Q2), rising to $7.8 million or 84.8 million Swedish krona versus $2.7 million (29.7 million krona) during the comparative period.
Chief executive, Patrick Lundström, relayed how process improvements, such as reduced dust in the shredding area, had led to capacity utilisation of 60% by July, up from 45% in June and 32% in April.
The company notably established its Circulose Supplier Network earlier this summer, with participating partners spanning the globe, from Italy to Bangladesh, Pakistan, China, Mexico and beyond.
It also announced plans to roll out TextileGenesis’ traceability technology across its full supply chain in the spring.
Image credit: Alexander Donka.
