Syntetica, an innovative nylon recycling startup helping to solve the pollution problem in the fashion industry, has successfully raised €4.2 million in a seed round led by EQT Ventures with participation from the family offices of Peugeot and ETAM, Volta Circle (Indorama Ventures’ shareholders family office), Better Angle, Pareto Holdings, Athletico Ventures, Bear Flag Capital and high-profile angels 2-time Formula-E champion Jean-Éric Vergne, IDEC Group CEO Patrice Lafargue, and former tennis player Paul-Henri Mathieu.
Syntetica will use the fresh capital to build out the team’s existing expertise with additional technical talent and begin producing the first fully recycled nylon materials for fashion and automotive clients with the aim of reaching a pre-industrial stage by mid-2026.
Marco Bertone, Co-Founder and Chief Executive Officer at Syntetica, commented: “We founded Syntetica to deliver a practical solution to permanently close the loop in nylon recycling, meaningfully reducing retailers’ carbon emissions and preventing millions of tonnes of garments being consigned to landfill.”
Nylon is amongst the most readily used textiles in the market, representing c.7% of new textiles manufactured each year, but the vast majority of it ends up in landfills or incineration plants. This is because virgin nylon is commonly blended with other fibres including cotton, elastane, and polyester – giving it additional qualities for widespread use in activewear, outdoor gear, hosiery, and high performance / automotive textiles, but making recycling it energy and cost intensive.
Syntetica’s unique depolymerisation technique has the potential to revolutionise nylon recycling and pioneer the shift to a circular economy for nylon garments. While other nylon recycling processes exist, high temperatures and pressure make them expensive and energy intensive, limiting widespread rollout and exacerbating the textile waste crisis that is plaguing the clothing industry in particular.
A suite of household fashion names are already in contract discussions with Syntetica, who’s innovative solution is primed to radically reshape their supply chains. Etam, the number one lingerie brand in France, is currently working with Syntetica to launch a capsule collection using material recycled via Syntetica’s process.
Thomas Poitrineau, Director at EQT Ventures, added: “From the early days of our partnership, Marco’s and Louis’ technical expertise and entrepreneurial flare immediately impressed me. So too did their ambition to solve one of the most pressing and complex challenges facing clothing retailers today – it was clear we had a similar methodology for approaching climate issues and the founder-investor fit was effortless from day one.”
Read the orginal article: https://www.eu-startups.com/2024/07/paris-based-syntetica-raises-e4-2-million-to-scale-nylon-recycling-for-the-global-clothing-market/
