The recycled cotton producer secures funding from STORY3 Capital to further expand and innovate on its 70 years’ experience aiming to close the loop on the textile industry.
Recover™, the material sciences business produces premium recycled cotton fibre and cotton fibre blends. With the investment for STORY3 Capital, Recover™, a family-owned business seeks to meet the surging worldwide demand for cotton with its sustainably recycled alternative.
Cotton is one of the most climate-intensive crops on the planet due to the large volumes of water, pesticides and land required. One t-shirt uses 2,700 litres of water – an equivalent of three years of water consumption for the average person.
The textile industry causes a major environmental impact, detrimental to climate action commitments and sustainable development goals. Recover™ are at the forefront of combatting this reality with credible solutions.
Recover™ alleviates the need to cultivate cotton due to its ability to recycle industrial and consumer cotton waste. The sustainable cotton producer also reduces its need for dyes by utilising its ColorBlend technology.
The Higg Material Sustainability Index records Recover’s recycled cotton fibre to have the lowest environmental impact in the world. Its high-performance recycled cotton fibres are applicable for both rotor and ring spinning.
By 2025, Recover™ will increase its production of recycled cotton fibre to 200,000 metric tons, saving nearly three trillion litres of water per year. This will result in 500,000 acres of land being made available to redirect away from cotton production.
“My family has been innovating for generations to perfect the Recover™ process, which is primed to be fashion industry’s biggest resource in meeting its sustainability goals,” said Alfredo Ferre, CEO of Recover™. “We’re proud to offer potential partners the highest quality and lowest-impact fibre available in today’s market, and we look forward to increasing our sustainability footprint thanks to our partnership with STORY3 Capital.”
Peter Comisar, Founder and CEO of STORY3 Capital and former Partner at Goldman Sachs & Co. said, “Recover™ is uniquely positioned to be the global sustainability leader in cotton recycling by acting as an agent of change within the industry, and quickly becoming the gold standard in closing the loop on fashion.” Ben Malka, Operating Partner at STORY3 Capital and Executive Chairman of Recover™ stated, “We immediately saw the potential to impact the pent-up demand for recycled cotton by scaling production and working with the industry to innovate and migrate to Recover™ Fibres.”
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