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Renewcell and fiber producer Daiwabo sign Letter of Intent for circular textile fiber collaboration

Renewcell and fiber producer Daiwabo sign Letter of Intent for circular textile fiber collaborationThe Swedish textile-to-textile recycling innovator Renewcell has signed a Letter of Intent with Daiwabo Rayon Co. Ltd., a leading Japanese cellulosic fiber producer, concerning a long-term commercial collaboration around man-made cellulosic fiber production. The agreement affirms the two companies’ intent to work together to supply textile fibers made using Circulose®, Renewcell’s 100% recycled textile raw material, to global fashion brands in the coming years. The agreement has been facilitated by Ekman Group, Renewcell’s exclusive global trading partner.

”I am excited to announce an agreement with such a highly regarded company as Daiwabo. Daiwabo is a true leader in viscose fiber production that has excellent long-standing relations with the biggest brands in Asia and the world. It reflects very well on the work done by our team to ensure the quality and maximize the potential of Circulose® as a feedstock for circular textile fibers.” comments Patrik Lundström, CEO of Renewcell.

”Our announcement of an agreement with Renewcell, the most advanced textile recycling innovator in the world, marks the first step in jointly producing our functional regenerated cellulose fiber and products using the recycled textile raw material Circulose®. We are very excited about our partnership and feel the weight of our responsibility to supply products that are kind to people and the earth.” comments Mr. Fukushima, President of Daiwabo Rayon.

The Letter of Intent signed between Renewcell and Daiwabo provides the framework for an upcoming offtake agreement between the parties. The future legally binding offtake agreement will set out commercial terms for the delivery of certain volumes of Circulose® dissolving pulp to Daiwabo over a number of years. Daiwabo intends to use Circulose® as feedstock in the production of man-made cellulosic fibers to be supplied to textile manufacturers and fashion brands worldwide.

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