Tyton BioSciences, which develops recycling technology for the fashion industry, has secured US$8m in a Series A funding round led by Tin Shed Ventures, the investment arm of outdoor apparel brand Patagonia.
Based in Danville, Virginia, Tyton recycles raw materials, including cotton pulp and polyester, that are recovered from discarded clothing and fashion manufacturing waste to create new fabrics that are otherwise made from natural resources like oil, trees, and cotton.
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It uses hydrothermal processes (using water as a solvent combined with heat and pressure) make “our tech one of the cleanest in the recycling industry and cost competitive with virgin materials,” the company says. Solutions include a high-grade pulp that can be made into viscose and Lyocell type fabrics; and recycling polyester or poly-cotton blends into polyester monomers (terephthalic acid and ethylene glycol), the building blocks of virgin-grade polyester.
“Tyton is solving fashion’s greatest business and environmental challenge by turning high-volume waste streams into valuable new products. This $1.5 trillion a year industry is hungry for a recycling technology that works and delivers great economics – we can do that. Our investment partners recognise our ability to grow a successful business while also being responsible global citizens. We are delighted to have their support, expertise, and assistance to deploy our technology globally,” says CEO Peter Majeranowski.
The Series A funding will be used to scale Tyton’s solution and help commercialise its technology globally in partnership with fashion industry manufacturers and retailers.
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“Tin Shed Ventures and Patagonia are committed to using our business to save our home planet. We invest in solutions we believe can dramatically clean up our industry, and we are excited to support Tyton in bringing this much-needed recycling innovation to market,” adds Greg Curtis, Tyton board member and general counsel at Tin Shed Ventures.
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By GlobalDataIn addition, as part of its growth strategy, Tyton has expanded its leadership team to include former Nike’s former Coatings Programme director, Dr Julie Willoughby, as its chief scientific officer.
