Infinited Fiber Company raised $4.2M from H&M, Fortum and Virala

Infinited Fiber Company, an Espoo, Finland-based company behind a technology that can turn textile, cardboard and agricultural waste to new and better cotton, announced completing a EUR 3.7M ($4.2M) capital investment round.

The money was provided by Swedish retiler H&M through H&M Co:lab and Finnish investors Virala and Fortum.

Infinited Fiber Company Ltd. (IFC), led by CEO Petri Alava, was founded in 2018 as a spinoff from VTT, the Technical Research Institute of Finland. The company has developed an innovative technology that offers carbon neutral fiber regeneration technology for textile and non-woven industries.

That means that the technology can turn textile, cardboard and agricultural waste to new and better cotton through a three-stage process: 1. Fiber separation, 2. Turning material into liquid, 3. Turning liquid into fiber.

Infinited Fiber Company makes money by licensing its technology to global fibre producers and is currently running its 50-ton pilot plant in Espoo,  with plans to increase the capacity up to 500 tons by 2020. IFC employs 11 people and its turnover in 2018 was 1.5 million euros.