The Finnish fashion and textile technology company Infinited Fiber Company plans to set up a factory to produce regenerated textile fiber from textile waste in the Veisiluoto industrial area in Kemi, Lapland. The factory will be set up inside a shut paper plant leased to the company by Stora Ensos. The company will invest approximately €400 million in the project that is expected to create an estimated 270 jobs.
The factory will begin operating at full capacity in 2025 with the annual fiber production capacity totaling 30,000 metric tons. Most fibers produced in the factory will be exported. Infinited Fiber Company is a Finnish biotech founded in 2016 to commercialize a breakthrough recycling technology that can turn cellulose-rich raw materials – like cotton-rich textile waste, used cardboard, or wheat or rice straw – into high-quality textile fibers with the look and feel of cotton. The patented technology has been validated by leading brands and is ready to be scaled.