Fairbrics
(Source: Fairbrics)
A total amount of €22 million has been raised by Faribrics, a sustainable chemical company developing a technology that converts carbon emissions into high value polyester through a circular manufacturing approach, to bring its innovative solution to market. The company has raised €17 million from the European Union’s Horizon 2020 Research & Innovation Program and €5 million from Partners to the Technology Upscaling Project.
The EU’s grant was awarded to a consortium coordinated by Fairbrics, Paris/France, that brings together 13 partners from 7 countries throughout Europe, ranging from upstream and process development experts (i.e. engineering design, carbon capture, chemical reuse, electrolyzer) to final product specialists (e.g. for automotive and textile). To prompt societal impact, the project also includes a strong educational component and, together with academic partners, it will develop learning and training resources on CO2 valorization.
The combined funds will be used to upscale Fairbrics’ technology, first in a pilot line of 100 kg/day by 2024 and later, by 2026, in a 1 ton/day demo plant. The primary aim is to fight climate change and accelerate energy intensive industries’ decarbonation by replacing fossil-based polyester with carbon-based polyester, using a circular approach that recycles carbon waste fumes from chemical plants into high value textile products. The company targets sectors employing polyester as a main material: clothing but also sports equipment, automotive and packaging.
Today, polyester accounts for 60% of all textiles produced worldwide and a third of the fashion industry’s greenhouse gas emission. By replacing fossil fuel sources by CO2-based sources, Fairbrics provides a sustainable and scalable solution to energy intensive industries. The company will initially address the fashion industry and has already secured strategic partnerships with major brands. It intends to progressively diversify its technology platform with solutions addressing other sectors such as sports equipment, packaging and automotive.
The EU’s grant was awarded to a consortium coordinated by Fairbrics, Paris/France, that brings together 13 partners from 7 countries throughout Europe, ranging from upstream and process development experts (i.e. engineering design, carbon capture, chemical reuse, electrolyzer) to final product specialists (e.g. for automotive and textile). To prompt societal impact, the project also includes a strong educational component and, together with academic partners, it will develop learning and training resources on CO2 valorization.
The combined funds will be used to upscale Fairbrics’ technology, first in a pilot line of 100 kg/day by 2024 and later, by 2026, in a 1 ton/day demo plant. The primary aim is to fight climate change and accelerate energy intensive industries’ decarbonation by replacing fossil-based polyester with carbon-based polyester, using a circular approach that recycles carbon waste fumes from chemical plants into high value textile products. The company targets sectors employing polyester as a main material: clothing but also sports equipment, automotive and packaging.
Today, polyester accounts for 60% of all textiles produced worldwide and a third of the fashion industry’s greenhouse gas emission. By replacing fossil fuel sources by CO2-based sources, Fairbrics provides a sustainable and scalable solution to energy intensive industries. The company will initially address the fashion industry and has already secured strategic partnerships with major brands. It intends to progressively diversify its technology platform with solutions addressing other sectors such as sports equipment, packaging and automotive.
