Shanghai
Sateri has
announced that it will continue its collaboration with Infinited Fiber Company.
Other than Sateri, the group has attracted other investors including BESTSELLER
and Adidas. According to Allen Zhang,
President, Sateri, the company had started its collaboration in 2019 as a
significant investor in the previous funding round. The company is excited to
continue its collaboration with Infinited Fiber Company as part of its Sateri
Vision 2030. This is a major milestone in the career of both companies as the
companies decide to scale up their next-generation fibre solutions.
As per Petri Alava, Co-Founder and CEO, Infinited Fiber Company, the
company is excited to welcome its member as new investors and is grateful for
the support extended by its previous investors. He also said that the company
is looking forward to its collaboration with Sateri and is expecting to offer
good technology to major textile fibre producers.
This new funding round was followed by Infinited Fiber Company’s
plan to build a flagship factory in Finland as there has been strong growth in
demand from global textile and fashion brands for textile fibre Infinna. It is
expected that the company will use textile waste as raw material and will
target to raise its production capacity to 30,000 metric tons.
As per reports, Sateri has produced and developed a diverse range
of circular and sustainable products which includes FINEX and Lyocell, which
are made from recycled textile waste. As a part of RGE’s $200 million
investment commitment to advance next-generation textile fibre innovation and
technology, the company has initiated in-house R&D efforts and investment
in Infinited Fiber Company.
Source – Press Release of
“Sateri”
Also Read:
https://indiantextilejournal.com/spin-wind/sateri-s-breakthrough-in-viscose-production-using-waste