Worn Again secures 27.6 million pounds to fund new recycling plant

Worn Again Technologies, a chemical recycling innovator, has raised 27.6 million pounds to support the construction of a textile recycling demonstration plant in Switzerland.

The funding, which saw contribution from the likes of H&M and Sulzer, will build on the firm’s mission to commercialise circular strategies for hard-to-recycle fabric blends.

It brings its total funding to around 42.9 million pounds, boosting the realisation of its large-scale plant, where it will concentrate on polymer processing technologies that it said could upcycle 1,000 tonnes of textiles a year.

Additionally, the investment will also help to drive the expansion of the company and its setup.

Speaking on the funding round, Erik Koep, CEO of Worn Again, stated that the support displayed the strength and growing interest in its recycling framework.

Koep added: “We are well-positioned to enter the next phase of our business growth, as we can get closer to offering large-scale commercial facilities for blended polycotton materials.”

The project will also see further support from contributing investor Sulzer Chemtech, which will be providing its polymer processing expertise and infrastructures.

Georg Stausber, the CEO of another investor, Oerlikon Polymer Processing Solutions Division, also expressed backing for the project, stating: “The time for circular strategies and their enabling technologies is now.

“This is why cutting-edge projects, such as Worn Again Technologies’ demonstration plant, are so valuable and are advancing at a pace alongside current market trends and demands.”