German startup eeden secured €18 million in a Series A funding round to construct a plant in Munster to help recover pure cellulose and PET monomers from cotton-polyester textile waste, The company plans to also use these funds to establish commercial projects with key players across the textile industry.
Highlighting the potential of their solution, Steffen Gerlach, CEO and Co-founder, eeden states, over the past few years, the company has developed a proven solution with a potential to meet the industry’s long-term need for cost-efficient and high-performing circular materials.
Supported by both new and existing investors, the company plans to expand this technology to transform textile waste into valuable materials, he adds.
The funding round was led by Forbion, a prominent Dutch venture capital firm, through its BioEconomy Fund. New investors Henkel Ventures and NRW.Venture, the venture fund of North Rhine-Westphalia’s development bank, also participated. Notably, all existing investors chose to reinvest in this round, signaling strong confidence in eeden's capabilities.
Praising the pioneering solution, Alex Hoffmann, General Partner, Forbion, says, it promises to make large-scale textile recycling not only technologically feasible, but also commercially viable in the near future. He conveyed support to the eeden's team as they expand this breakthrough technology to an industrial level.
