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Fibres/​Yarns/​Fabrics

Evrnu raises £15 million for NuCycl

Platform depolymerizes textile waste and repolymerizes it into fibres that are on par or higher quality than the inputs and can be recycled multiple times.

2nd November 2021

Innovation in Textiles
 |  Seattle, WA, USA

Clothing/​Footwear

Evrnu, based in Seattle, Washington, has raised $15 million in Series B financing to scale and meet the surging demand for its fibre regeneration platform, NuCycl.

The round was led by FullCycle Climate Partners, which will also serve as a significant project financing partner. Globally diversified supply chain partners and brands are also joining the round as co-investors including Hansae, Bestseller and PDS Venture.

“Over the last few years, we have fine-tuned NuCycl technologies to meet and exceed the quality and performance demands of the luxury industry,” says Stacy Flynn, CEO and co-founder of Evrnu. “We are now proving these technologies at scale, with short-term plans for global expansion.”

All the gold that’s ever been sourced is still in circulation – it gets melted and casted over and over again. That’s Evrnu’s goal for textile fibres

The strategic financing will be used to expand Evrnu’s facilities and operations in South Carolina and service high volumes of NuCycl fibres to the fashion industry. It will also enable key, strategic hires in growth functions and technical roles as Evrnu expedites global deployment of NuCycl to meet the scale required to help alleviate dependency on virgin resources and create material emissions reductions throughout the fashion value chain.

“Brands know that they need to materially address their emissions and that their customers are watching and demanding that they do better,” says Kyle Adkins, partner at FullCycle. “FullCycle is excited to partner with Evrnu to build and deploy true molecular circularity with the capacity and scale to meet the demands of even the largest participants in this global industry.”

Evrnu’s NuCycl platform depolymerizes textile waste and repolymerizes it fibres that are on par or higher quality than the inputs and can be recycled multiple times.

Having developed the technologies to address the recycling of 90%+ of all apparel, with one patent granted and several others pending, Evrnu says it is on course to deploy technologies that allow for all textiles to be successfully recycled by 2030.

“All the gold that’s ever been sourced is still in circulation – it gets melted and casted over and over again,” says Christopher Stanev, CTO of Evrnu. “That’s Evrnu’s goal for textile fibres – our technologies enable them to stay in circulation, while maintaining their performance attributes.”

Evrnu has advanced R&D contracts under way in fashion, as well as in new markets, such as home furnishings and automotive.

FullCycle is a growth equity fund accelerating the commercial deployment of climate-critical technologies by providing growth capital to both the companies and their pipeline of early infrastructure projects.

www.evrnu.com 

www.fullcycle.com

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