Altor, a Swedish investment firm, acquired the remaining assets of Renewcell, a bankrupt Swedish cotton textile recycling company.
Renewcell is now renamed Circulose. This acquisition ensures financial support for Circulose's pioneering cotton recycling technology, CIRCULOSE® pulp, which turns textile waste into a dissolving pulp for viscose production.
Circulose has enough CIRCULOSE® pulp and fiber to meet current market demands and a reliable supplier network to ensure uninterrupted supply. The company is committed to maintaining high quality standards throughout this transition.
Previously known as Renewcell, the company was founded in 2012. Altor sees promise in Circulose's patented textile recycling process and its potential to revolutionize the textile industry by making it circular and low-carbon. Circulose's CIRCULOSE® pulp is currently produced in a factory in Ortviken, Sweden.
Altor views Circulose as a key player in replacing virgin cotton and MMCF fibers with next-generation materials. The investment firm is committed to partnering with stakeholders to maximize the impact of Circulose's technology.
