Lenzing Partners with TreeToTextile to Advance Sustainable Fiber Production in the Textile Industry

Lenzing Partners with TreeToTextile to Advance Sustainable Fiber Production in the Textile Industry

(IN BRIEF) The Lenzing Group, a leading provider of regenerated cellulose fibers, has announced its acquisition of a minority stake in the Swedish company TreeToTextile AB. This collaboration, which includes existing shareholders such as H&M Group, Inter IKEA Group, Stora Enso, and LSCS Invest, aims to revolutionize the textile industry through sustainably produced fibers. Lenzing’s CEO, Rohit Aggarwal, expressed excitement about TreeToTextile’s innovative technology, which aligns with Lenzing’s commitment to sustainability and innovation. TreeToTextile, established in 2014, focuses on developing sustainable processes for cellulosic fiber production and is preparing to scale up production for market availability. The transaction is expected to be finalized by the first half of 2025, pending regulatory approvals.

(PRESS RELEASE) LENZING, 8-Oct-2024 — /EuropaWire/ — The Lenzing Group, a prominent player in the production of regenerated cellulose fibers for textile and nonwovens sectors, has announced its acquisition of a minority stake in Swedish company TreeToTextile AB. This partnership includes other notable investors such as H&M Group, Inter IKEA Group, Stora Enso, and LSCS Invest, all of whom share a commitment to revolutionizing the textile industry through sustainably produced fibers.

With over 85 years of experience in creating environmentally friendly regenerated cellulosic fibers and dissolving wood pulp, Lenzing is recognized for its TENCEL™, LENZING™ ECOVERO™, and VEOCEL™ brands. Rohit Aggarwal, CEO of Lenzing Group, expressed enthusiasm for TreeToTextile’s innovative technology and production methods, which promise to further minimize environmental impact and align seamlessly with Lenzing’s sustainability strategy. “This partnership marks a significant investment for us and highlights our unwavering dedication to innovation. We are eager to share our expertise with TreeToTextile as they strive toward their ambitious goals,” he stated.

Dr. Roxana Barbieru, CEO of TreeToTextile, emphasized the advantages of joining forces with Lenzing, noting that their shared expertise in sustainability will accelerate their market readiness and strengthen their position in the textile industry.

Founded in 2014, TreeToTextile was established with the mission of creating a more sustainable approach to cellulosic fiber production. Since the initiation of pilot lines in 2015 and the launch of a demonstration plant in 2021, the company is now poised to scale its production capabilities and make its innovative fibers commercially available.

The completion of this transaction is contingent on regulatory approvals and is anticipated to be finalized in the first half of 2025.

Media Contact:

Dominic Köfner
Vice President Corporate Communications & Public Affairs
Tel: +43 7672 701 2743
media@lenzing.com

SOURCE: LENZING AG