H&M invests in CO2-derived polyester start-up
French start-up Fairbrics has raised €6.5 million in a Pre-Series A fundraising to produce one of the main constituents of polyester, ethylene glycol, from CO2, green hydrogen and renewable energy.
Investors include venture capital firm AP Ventures and H&M CO:LAB, H&M Group’s investment arm.
Proceeds will be used to construct a pilot plant capable of manufacturing over 30 tonnes of polyester a year.
The company, which was founded 2019 by Tawfiq Nasr Allah and Benoît Illy, is partnering brands to incorporate its polyester into marketable fabrics, under the name Airwear.
In its process, CO2 is captured from industrial sources, reacted with a catalyst and solvent to generate chemicals that are used for polyester synthesis. These chemicals are polymerized to create polyester pellets which are then spun into yarn and then into fabric.
