The world generates more than 100 million tons of textile waste each year, making textiles and fashion among the most polluting industries. UK-based Evoralis spun-out of the University of Cambridge to develop a process for breaking down synthetic materials like polyester, nylon and polyurethane into base components that can be reused. Evoralis claims over 80% of textiles could be recycled using its enzymatic technology.
The opportunity to “displace the use of virgin materials in the textiles industry cannot be emphasized strongly enough,” said Claire Shrewsbury of the climate-focused NGO Waste and Resources Action Programme, or WRAP.
Evoralis’s $2.8 million funding round was backed by WRAP’s Circular Plastics Accelerator and partner Archipelago Ventures, alongside Cambridge Enterprise Ventures and Parkwalk Advisors, Backbone Ventures. Italy-based deep tech venture capital firm LIFTT led the round. The Center for Process Innovation, which invested in June, converted its loan to equity.
Circular fashion
Much of the global textile waste was previously deemed unrecyclable. US-based Circ is working to transform discarded clothing back to their original fibers. Refiberd has developed AI-based textile waste sorting technology to make sure more materials make it to recycling facilities in the first place. Evernu is converting cotton waste into a new material that is better able to withstand reuse.
