Altor acquires the remaining assets of Renewcell, creating new company  

Altor has acquired the remaining assets of Renewcell, creating the new company Circulose. Photo: Simon Matthis

Renewcell is a Swedish textile recycling company that was founded by innovators from Stockholm’s KTH Royal Institute of Technology in 2012. In February 2023, the company filed for bankruptcy and has since then looked for a new owner to safeguard and advance the patented process developed by Renewcell to produce circulose pulp from 100% textile waste. Altor now acquires the remaining assets of Renewcell, creating the new company Circulose.

Circulose is globally the only material that has been produced at scale from 100% textile waste, based on a closed-loop, chemical recycling process. The patented process to produce Circulose pulp from 100% textile waste is unique and has the potential to make the textile and fashion industry circular and enable a shift to a low carbon economy.

Today, the material is produced in a strategically located factory in Ortviken, a region with historically significant know-how from the pulp and paper industry. The Circulose pulp is used to spin fibers, these fibers are turned into fabrics and used for new high-quality textile products. Altor invests to safeguard this important innovation and build on Circulose as the first puzzle piece to create a global champion for next gen materials to replace virgin cotton and MMCF fibers.

“We don’t shy away from a challenge and this one is worth taking, both for the uniqueness of the patented technology and the urgency of scaling circular solutions for the entire textile and fashion industry, particularly to replace virgin cotton and MMCF. We are determined to partner with key stakeholders across the value chain to together unlock the potential of the Circulose.” Clara Zverina, Principal at Altor.