Shortly after Stockholm-based Renewcell filed for bankruptcy and announced it was looking for a new owner to protect its patented process for CIRCULOSE® pulp, it was reported that Sweden-based investment firm Altor had acquired assets of the company. Moving forward, the company will operate under the name Circulose. Renewcell technology uses a closed-loop, chemical recycling process to create recycled cotton dissolving pulp from 100-percent textile waste. The pulp is used by man-made cellulosic fiber (MMCF) producers. The investment by Altor ensures the company has the resources and network needed to scale Circulose pulp production.
“We extend our deepest gratitude to our customers, partners, and stakeholders for their unwavering support and collaboration during this journey,”said Magnus Lundmark, CEO at Circulose. “Together, we will continue to drive positive change, leveraging Altor’s expertise and resources to enhance our capabilities and secure a confident future for Circulose and the broader textile community.”
“We don’t shy away from a challenge and this one is worth taking, both for the uniqueness of the patented technology and the urgency of scaling circular solutions for the entire textile and fashion industry, particularly to replace virgin cotton and MMCF,” said Clara Zverina, Altor principal.
2024 Quarterly Volume III
