ImpactAlpha, July 13 — Only around 12% of the materials used to make clothing ends up being recycled. A raft of textile-recycling startups, including Evrnu and Ambercycle, are working to bring the fashion industry into the circular economy.
The latest: Danville, Va.-based Circ, which returns old clothes to the raw materials from which they were made, such as cotton and polyester, and works with clothing brands, retailers and manufacturers to reuse the materials.
“We’ve secured suppliers, purchasers, and major financial stakeholders to establish a much cleaner fashion future,” said Circ’s Peter Majeranowski. The company is aiming to recycle 10 billion garments by 2030. Textile production alone is responsible for 1.2 billion metric tons of greenhouse gas released into the atmosphere each year.
Breakthrough Energy Ventures led Circ’s Series B round. Circ’s ability to recycle blended textiles is “a significant breakthrough that can help us to achieve our global carbon goals by reducing the carbon intensity of textile raw materials,” said BEV’s Carmichael Roberts. Participating partners include 8090 Partners, Alante Capital, Circulate Capital, Envisioning Partners and several large fashion brands.