Bestseller invests in European cleantech startup

Bestseller is expanding its commitment to the development of future materials with an investment in German cleantech startup matterr. The company has developed a technology for the chemical recycling of polyester (PET) from used textiles and packaging.

“matterr is a young company with an exciting solution that aims to be implemented on a large scale to benefit the entire fashion industry. We believe in both the scalability of their technology and the commercial potential of the company. In the long run, this can ensure the right impact,” says Bestsellers Sustainability Manager Dorte Rye Olsen in a press release.

The investment from Bestseller is made through the company’s innovation and investment platform Invest FWD and follows an extensive grant from the EU’s ERDF/JTF program in North Rhine-Westphalia, where matterr has received 30 million euros. The funding and new capital will enable the company to establish its first factory, which is expected to be ready in 2026.

Recycled polyester is an important component

The factory is designed to produce up to 10,000 tons of recycled polyester per year. The goal is to create a scalable alternative to polyester based on fossil raw materials and thus contribute to the transition of the fashion industry.

“Bestseller has clear ambitions to reduce the use of fossil fuels, and using recycled polyester, for example, is an important component,” says Dorte Rye Olsen.

For Bestseller, the investment is part of a longer-term strategy. The group has already invested over DKK 240 million in companies working with recycling technologies and the development of new materials. According to Bestseller, the goal is not only to secure raw materials for its own production, but also to support solutions that can take the entire fashion industry in a more sustainable direction.

“Our investments in innovative recycling technologies speak to the fashion industry’s desire for consumers’ discarded textiles to be recycled to form our raw material for new clothes in the future. With the amount of textiles consumed globally today, it is essential that we take responsibility and utilize existing resources such as polyester again and again.”

Indlægget Bestseller invests in European cleantech startup blev først udgivet på TechSavvy.