Australian fashion technology firm BlockTexx is to join forces with New Zealand textile research company The Formary to tackle textile waste.

Announced to coincide with New Zealand's first circular economy conference, the partnership will see BlockTexx work with The Formary to develop new strategies and workflow models for recycling and repurposing of textile waste.

BlockTexx founders, Adrian Jones and Graham Ross are in Auckland this week to attend the Circular Economy Summit, a collaboration between the Sustainable Business Network's Circular Economy Accelerator and WasteMINZ.

"Australia and New Zealand, like the rest of the world, face enormous challenges to address the textile waste created by fast fashion," says Ross. "The Formary is a leader in this space and we believe our focus at BlockTexx on using technology to unlock the immense value in textile waste along the entire supply chain strongly complements The Formary's expertise."

Ross joins a line-up of world-leading experts and practitioners presenting at this week's summit, and will demonstrate the value the blockchain technology can bring to the circular economy.

"On 1 August the world had consumed a year's worth of resources in just seven months. It is now crucial that we move away from the current linear clothing model that churns out 100bn units a year, to a system where we draw fewer natural resources and capture far greater value from the clothing we currently discard," says Bernadette Casey, creative director The Formary.

Peter Thompson, CEO The Formary, adds the only way to solve the "massive challenges" of global warming and resource scarcity is through collaboration.

"We are excited to be joining forces with the team at BlockTexx, combining textile, technology and market place expertise to advance the clothing industry to a resource respectful, financially valuable circular system."