In its latest financing round, circular fashion and textile technology group Infinited Fiber Company secured €30 million (approx. $35M). The company’s investors included sportswear company adidas and Invest FWD A/S, Danish fashion group Bestseller’s investment arm for sustainable fashion. The capital raised will go towards boosting regenerated fibers production at its pilot facilities.

Infinited Fiber uses its patented technology to convert materials rich in cellulose, like textile waste, discarded cardboard, and wood into high-quality natural fibres. The company claims that these fibres match the qualities found in virgin fibres. Its Infinna fiber looks and feels like cotton.

These can then be easily dyed, used individually, or be blended with other fibres to produce new items. They can be many times, as the biodegradable fibres don’t contain any plastic elements or impurities. The company has plans to open a flagship factory in Finland, especially since brands like H&M, PVH Corp, the parent company of Tommy Hilfiger and Calvin Klein, Wrangler, and Patagonia have shown interest in its regenerated textile fiber Infinna.

The factory will use household textile waste as raw material. It is estimated to begin operations in 2024 with an annual production capacity of 30,000 metric tons. The new capital will go towards setting up this factory and ramp up production at its pilot facilities in the years leading to 2024.