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Rester raises EUR 6 million in funding

YarnsandFibers News Bureau 2022-07-04 10:22:49 – Finland

Rester, Finnish global forerunner in building textile recovery value chains, has raised EUR 6 million in expansion capital. The company will be using the fund to help the firm grow and internationalize. Rester's recycled fiber can be used in the textile sector to make fabrics or technical textiles, as well as in the building industry to make insulation, composite materials, and acoustic panels.

Lindström Group led the round, becoming a significant minority owner. Taaleri Sijoitus Oy and the family-owned investment firm Besodos Investors Oy are among the new owners. Tesi (Finnish Industry Investment) made an early investment in the firm as well.

Mikael Niemi, Investment Director at Tesi, said that the textile sector contributes significantly to global greenhouse gas emissions and consumes large amounts of water. However, recycling and reusing textiles to reduce environmental impact is far from ideal. As the firm builds up and expands abroad, its investment in Rester has a tangible influence and encourages a sustainable business.

Tesi funded Rester through its circular economy initiative, which emphasizes material efficiency and carbon neutrality. The program, worth EUR 75 million, began in 2018.

Outi Luukko, CEO of Rester, said that they’re putting a major emphasis on expansion and internationalization while also working on green transition in the textile business. Tesi is an essential partner in their growth path, where value chains are progressively being established around global industry leaders. Having Tesi on board ensured that the investment round was as ideal as it could have been.

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