Fashion and textile technology company, Infinited Fiber Company, plans to build a commercial-scale facility to produce regenerated textile fiber for the world's largest garment businesses on the site of renewable materials company Stora Enso's shuttered Veitsiluoto paper mill in Kemi, Finland, on the Baltic Sea's northern shore.
The investment is believed to be worth EUR 400 million, and it is expected to generate 270 new employment in the area. The projected factory's yearly fiber production capacity is estimated to be 30,000 metric tons, which is equivalent to the fiber needed for about 100 million T-shirts.
Infinited Fiber Company's technology converts cotton-rich textile waste into Infinna™, a versatile, high-quality regenerated textile fiber that looks and feels like cotton. Major international fashion and apparel companies, including Zara's parent company Inditex, PVH Europe, which is known for the Tommy Hilfiger brand, Patagonia, PANGAIA, H&M Group, and BESTSELLER, have already committed to InfinnaTM purchases through multi-year agreements as they seek materials that will enable the industry to transition to circularity. Infinited Fiber Company aims to export the majority of its proposed factory's output. As a result, Kemi is a great site since the city's port provides efficient connectivity to the rest of the globe.
Infinited Fiber Company plans to transform a facility that once housed a discontinued paper production line into an Infinna™ fiber mill. Factory engineering and project execution, as well as related financial talks, began at the start of the year and are moving well. Infinited Fiber Business has also reached an agreement with utility infrastructure company Nevel to provide energy and water-related services.
Once operational, the factory is planned to employ around 220 people directly and another 50 indirectly through on-site support operations such as services, maintenance, and logistics. It is expected that the extra indirect employment effect will be roughly 800 jobs. The building and installation phases are estimated to generate 120 person-years of employment. The factory is expected to operate at full capacity in 2025.
Petri Alava, CEO and co-founder of Infinited Fiber Company, said that circularity is important to their business. They strive to utilize existing resources in all they do, which makes the old Veitsiluoto industrial site an excellent fit for them. At the same time, they will be developing new export goods and jobs. Finland has strong bioeconomy expertise and is a strong supporter of circular economy developments. They regard them as significant assets that will help Finland to become a leader in the development of a new, circular economy-based textile sector value chain.
After considering hundreds of prospective locations around Finland, Infinited Fiber Company chose the Veitsiluoto industrial site. The site's strong existing infrastructure, the availability of fresh water, renewable electricity and energy, efficient port services, and local skilled labor were all important factors in the selection.
Stora Enso Chief Financial Officer and Finland Country Manager Seppo Parvi., said that they’re glad to see a portion of the Veitsiluoto property being used, and they are excited about the investments and employment that Infinited Fiber Company plans to bring there.
Thomas Luther, CEO of Nevel, said that it is critical for them to support the transition to a climate-positive future via long-term collaboration. They’re thrilled to be Infinited Fiber Company's utility infrastructure partner as it prepares to develop its factory in Veitsiluoto, and they hope that this partnership will also offer new prospects in the area.
A weekly report covering market and price information on the entire chain of polyester along with online access to daily polyester chain prices.
One-time reports that are issued annually cover the demand and supply trends in individual products including polyester, nylon, acrylic, viscose, and cotton.
One-time reports that are issued annually cover the demand and supply trends in the individual country's natural and manmade fiber/filament industries.
Countries Served Worldwide