ALBUQUERQUE, New Mexico — October 7, 2022 — Green Theme Technologies Inc (GTT), the global supplier of water-free and PFAS-free textile finishing, is proud to announce $5.4 million dollars raised in its series B2 financing.
This influx of capital will be used to grow GTT’s revolutionary water-free EMPEL™ performance technologies, which now include the best durable water repellent (DWR) finish in the market, stain protection, a new technology to keep footwear dry, and the ongoing joint development of water-free dye (WFD) with market leading mill and brand partners. The unique technology uniformly fuses PFAS-free chemistries to each fiber in a fabric. EMPEL™ treated fabrics far exceed the performance of other competitive C0 and C6 products in the market.
“We are very pleased with the engaged support from a knowledgeable investment team like Cottonwood Technology Fund that understands GTT technology and wants to create solutions for the growing environmental pollution created by textile manufacturing,” said Martin Flora, VP of Business Development with GTT. “Legislation like the recent California Bill (AB 1817) signed into law last month banning PFAS chemistries in textiles by 2025 are driving mills and brands to adopt the GTT EMPEL™ solution more rapidly. In addition to legislative pressure, textile manufacturers and apparel brands are starting to realize that inefficient traditional water-based textile dyeing and finishing methods are extremely wasteful in energy, create huge amounts of water pollution, remediation costs and deliver inferior performance compared to GTT’s EMPEL ™ water-free processes.”
The lead investor in the series B2 round; Cottonwood Technology Fund focuses on disruptive science-based inventions. “Cottonwood invests in hard science and deep tech start-ups that are poised to disrupt large markets,” said David Blivin, Managing Partner with Cottonwood. “We see real opportunity with Green Theme to become the new global industry standard for high performance, low impact textile finishing, which is why we are proud to invest in them.”
GTT also has the support from other expert investment groups like Phoenix Venture Partners that targets advanced material science technologies and Safer Made focused on cleaner chemistry technologies to bring safer products to the market.
The fast-growing textile and fashion industries are currently the second largest water polluters on Earth and Green Theme’s business model intends to change that. By replacing traditional water-based wet textile finishing processes with efficient and water-free and PFAS -free EMPEL technology, GTT and their licensing partners are directly reducing the amount of water pollution in the world. The result is cleaner, better performing, and more sustainable textile products.
Posted: October 7, 2022
Source: Green Theme Technologies, Inc.
