At One Ventures- San Francisco-based venture capital fund and H&M CO: LAB- H&M Group's investment arm invests in Alchemie Technology (Alchemie), a global disruptor of textile dyeing and finishing technology. The investment is done to support Alchemie's commercial roll-out which aims to accelerate the transformation of the sustainability profile of global textile manufacturing.
In the textile industry, the textile dyeing process is the largest single contributor to carbon dioxide emissions and the second-largest cause of water pollution in the world. In the present time, the textile industry contributes to 3% of global CO2 emission which is estimated to rise up to 10% by 2050. In the global textile supply chain, Alchemie addresses one of the largest sustainability challenges through its breakthrough clean-tech digital manufacturing solutions.
With the help of investment, Alchemie will accelerate the commercial roll-out of its disruptive digital manufacturing products in the global market i.e. Novara(TM) precision digital finishing, and Endeavour(TM) smart waterless dyeing. In comparison to traditional textile processing, Alchemie's industrial solutions will provide a lower cost, higher throughput, and radically more sustainable alternative. The company's software services digitalize the supply chain and enable it to transform into fully connected digital manufacturing. To reduce their environmental impact, fashion consumers are demanding more accountability from fashion brands and hence the solution is very timely for the industry.
Alchemie's Endeavour smart waterless dyeing technology eliminates the production of contaminated wastewater along with reducing the carbon footprint from dyeing. When compared to traditional technologies, this results in reducing lead times, enabling lower minimum order sizes, and saving 50% of the total cost. These features have grabbed the attention of textile manufacturers and fashion brands worldwide.
In comparison to traditional technologies, Alchemie's Novara precision digital finishing technology saves significant energy and materials resulting in reducing cost and the impact of fabric finishing on the environment. Both Endeavour and Novara technologies are currently available for implementation.
Managing Director of Alchemie Technology Dr. Simon Kew said that they felt pleased that at this pivotal point in the commercial roll-out of their sustainable dyeing and finishing solutions, At One Ventures and H&M CO: LAB has invested in Alchemie. With their Endeavour and Novara technologies, they are disrupting manufacturing processes in the textile industry which has a significant impact on the environment. Their solution has proven to be a compelling combination in the global textile industry as it helps in reducing the environmental impact along with reducing the cost for dyeing and finishing. With successful commercial trials of their fabrics, they are building on the momentum in the market and are planning to roll out the first global commercial installations by this year.
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