Nanollose Limited, a leading bio-materials company focused on commercializing scalable technology to create fibers and fabrics with low environmental impact, is pleased to announce that it has entered into a collaboration agreement with innovative vegan leather and materials company, von Holzhausen Inc. (“von Holzhausen”)
von Holzhausen is a material innovation business on the goal to eliminate leather by developing next-generation materials made of plants and recyclable materials. The group's vegan leather goods mimic the essence of leather while providing higher performance and a significantly smaller carbon footprint.
Based in California, the firm has facilities in the United States and Italy that use its alternative materials, such as Banb Leather and Technik–Leather, which are made from plants and recycled fibers and are meant to biodegrade in a landfill. The firm has a high reputation for the sustainability and luxury of its goods, and it has been featured in world-renowned magazines such as Forbes1, FastCompany, and Vogue.
Von Holzhausen will receive samples of treated and processed microbial cellulose in various forms for testing as viable replacements for leather or other materials, either in their initial state or after additional processing by von Holzhausen. As part of the cooperation agreement, each party agrees to collaborate closely, interacting on a frequent basis to exchange information and important specifications in order to promote the partnership.
The agreement's term is one year from the date of execution until the conclusion of the development period, whichever comes first. This duration can be extended by both parties' written consent. Either party may terminate the agreement with at least three months' written notice. If the partnership succeeds in generating commercially viable project materials, Nanollose and von Holzhausen will cooperate in good faith to reach an agreement on a supply agreement or other appropriate commercial arrangement to jointly commercialize the project materials.
The vegan leather market is a big business potential that has grown rapidly in recent years. Increasing public knowledge of the ethical and environmental concerns about the impact of traditional leather production is a major motivator for people to adopt a vegan lifestyle and goods. The market is predicted to continue its rapid expansion and reach $89.6 billion by 20253. A successful partnership with von Holzhausen will allow Nanollose to establish a presence in this significant market potential with an established and trustworthy partner.
The vegan leather initiative is separate from Nanollose's work with Birla Cellulose because, unlike its Nullarbor™ technology, it does not necessitate the manufacture of fiber. As a result, the initiative provides Nanollose with important technology as well as commercial diversification.
The agreement adds toNanollose's strong network of collaborators, which has grown significantly since the completion of the Company's first pilot spin of Nullarbor-20™ forest-friendly lyocell fiber with Birla Cellulose. Each agreement was negotiated with a partner that meets the Company's requirements for being a market leader in key sectors of the fashion and textile industries. The Company, in collaboration with fashion consultant Carla Woidt, is working through a huge number of inbound inquiries and is in talks with other potential partners including several leading global fashion and textile brands.
Dr Wayne Best, Executive Chairman, said that they're thrilled to be partnering with von Holzhausen to produce vegan leather. Microbial cellulose is not only vegan but also natural and biodegradable, making it a suitable component for vegan products that are long-lasting. This is an intriguing possibility because of Nanollose's expertise in microbial cellulose and von Holzhausen's knowledge and track record in producing and commercializing vegan leathers. He is looking forward to updating our shareholders on this and other developing Nanollose potential in the near future."
von Holzhausen CEO, Vicki von Holzhausen, said that their exciting relationship with Nanollose furthers their dedication to tackling the important issue of climate change by converting waste materials into premium ones that can be used across numerous sector. They believe that collaborating with Nanollose's bacterial cellulose technology will help them get closer to their aim of eradicating leather.
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