Alchemie Technology Teams Up With At One Ventures And H&M Group To...

Alchemie Technology Teams Up With At One Ventures And H&M Group To Deliver Sustainability Breakthrough

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Alchemie Technology Teams Up with At One Ventures and
H&M Group to Deliver Sustainability Breakthrough in
Textile Dyeing and Finishing

Cambridge, UK, Feb 26,
2021 – (ACN Newswire) – Alchemie Technology (Alchemie), a
global disruptor of textile dyeing and finishing technology,
is pleased to announce an investment from At One Ventures
and H&M CO:LAB, H&M Group’s investment arm. The
investment will support Alchemie’s commercial roll-out,
aiming to accelerate the transformation of the
sustainability profile of textile manufacturing worldwide.
Textile dyeing is the second largest cause of water
pollution globally and is the largest single contributor to
carbon dioxide emissions from the textile industry. Today,
it is responsible for over 3% of global CO2 emissions and
forecast to increase to 10% by 2050. Alchemie is therefore
addressing one of the largest sustainability challenges in
the global textile supply chain today with its breakthrough
clean-tech digital manufacturing solutions.

The
investment will enable Alchemie to accelerate the commercial
roll-out of its disruptive digital manufacturing products in
the global market: Endeavour(TM) smart waterless dyeing and
Novara(TM) precision digital finishing. Alchemie’s
industrial solutions provide a unique value proposition to
textile manufacturers, with a lower cost, higher throughput,
and radically more sustainable alternative to traditional
textile processing. With the addition of software services
to digitalise the supply chain, it is also enabling the move
to fully connected digital manufacturing. The solution is
very timely for the industry, as fashion consumers are
demanding more accountability from fashion brands to reduce
their environmental impact.

Alchemie’s Endeavour(TM)
smart waterless dyeing technology allows garment
manufacturers to eliminate the production of contaminated
wastewater and dramatically reduce the carbon footprint from
dyeing. Demonstrated to radically reduce lead times and
enable lower minimum order sizes, alongside a 50% cost
saving compared to traditional technologies, the
Endeavour(TM) solution has been well received by textile
manufacturers and fashion brands worldwide.

Alchemie
has also seen a surge in market demand for its Novara(TM)
precision digital finishing technology. This technology
enables significant energy and materials savings compared to
traditional technologies, which radically reduces the impact
of fabric finishing on the environment and reduces cost.
Both Endeavour(TM) and Novara(TM) are currently available
for implementation, and there is a pipeline of additional
sustainable fabric finishing innovations progressing to
market based on the Novara(TM) technology including
technologies that deliver eco-friendly, fluorine-free water
repellents and advanced bio-based functional
finishes.

Alchemie’s market opportunity continues to
grow, with the increasing pressure in the textile industry
to reduce its environmental impact and governments
legislating to reduce or eliminate traditional textile
manufacturing. Textile manufacturing is an industry that
urgently needs new technologies that reduce environmental
impact, lower cost and enable end-to-end supply chain
digitalisation. Alchemie is uniquely positioned to address
this underserved market and transform the sustainability
profile of the textile industry.

The funding round was
led by At One Ventures, a San Francisco-based venture
capital fund focused on disruptive technologies that combat
climate change, and H&M CO:LAB, the investment arm of
H&M Group.

Dr. Simon Kew, Managing Director of
Alchemie Technology: “We are very pleased that At One
Ventures and H&M CO:LAB have invested in Alchemie at
this pivotal point in the commercial roll-out of our
sustainable dyeing and finishing solutions. The textile
manufacturing industry has a significant impact on the
environment, and with our Endeavour and Novara technologies,
we are disrupting manufacturing processes that are
responsible for over 3% of global CO2 emissions and 20% of
global water pollution. Our solutions both dramatically
reduce the environmental impact and radically reduce cost
for dyeing and finishing, which has proven to be a
compelling combination in the global textile industry. We
are building on the momentum we have generated in the market
with successful commercial trials of our fabrics and are
looking forward to rolling out the first global commercial
installations this year.”

Dr. Alan Hudd, Chairman of
Alchemie Technology: “This investment reflects the
significant acceleration of interest in the modernisation
and digitalisation of global textile manufacturing, a
combination of government, consumer, and brand pressure has
delivered an unstoppable impetus for change in the textile
industry. We are uniquely poised to deliver the next
generation of digital clean-tech textile manufacturing
solutions and the market is truly supercharged for change.
The pandemic has only accelerated the velocity of
digitalisation, as retail is replaced by direct-to-consumer
e-commerce platforms and consumers demand visibility and
sustainability in the supply chain.”

Helen Lin,
Principal at At One Ventures: “With their innovative
first-in-market technology, Alchemie has the potential to
transform textile manufacturing, effectively leapfrogging
over one of the largest water pollution problems in the
world today. We believe that outsized environmental returns
can only be achieved when driven by commercial scale and are
delighted to be supporting Alchemie to deliver this vision
in the textile industry.”

Nanna Andersen, Head of
H&M CO:LAB, H&M Group: “Alchemie Technology is
pioneering a truly breakthrough and cost-effective approach
to solving a longstanding sustainability issue in the supply
chain for textile products. We are excited to partner with
Alchemie and support innovation that addresses some of the
largest carbon footprint contributors of the textile
industry: dyeing and finishing. The commercial
implementation of their game-changing technology not only
aligns perfectly with the H&M group’s vision to become
fully circular, but also has the potential to benefit the
entire textile industry.”

About Alchemie
Technology

We are cleaning up textile manufacturing.
Alchemie Technology develops clean-tech textile
manufacturing processes using advanced digital technology.
Textile dyeing and finishing processes are some of the most
polluting manufacturing processes on the planet and are
responsible for over 3% of global CO2 emissions and over 20%
of global water pollution. We are delivering breakthrough
digital dyeing and finishing technologies Endeavour(TM) and
Novara(TM), which deliver a dramatic reduction in energy
consumption and eliminate contaminated wastewater emissions.
Our mission is to transform the textile industry with
clean-tech digital manufacturing solutions that
significantly reduce environmental impact and enable digital
transformation in textile supply chains.

About At One
Ventures

At One Ventures finds, funds, and grows teams
to catalyze a world where humanity is a net positive to
nature. We back early-stage (Seed, Series A) companies using
disruptive deep tech to upend the unit economics of
established industries while dramatically reducing their
planetary footprint. We also look for companies that are
pioneering new industries that are actively regenerative to
planetary health. Lastly, we look for companies that have
significant potential to be healthy, scalable businesses
because the positive impacts we invest in only last as long
as the businesses that carry them.

About H&M
CO:LAB

H&M CO:LAB is the investment arm of H&M
Group. Its mission is to drive and promote entrepreneurship,
and to contribute in a meaningful way to the long-term
growth of H&M Group through investments in innovative
companies. H&M CO:LAB invests across three focus areas:
Sustainable Fashion, New Retail and Enablers. For more
information about H&M Group, please visit
hmgroup.com.

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