The technology start-up in Münster has secured 18 million euros from new and existing investors as part of a Series A financing round.
Eeden wants to use the additional funds to build a demonstration system
The additional funds enabled “the construction of a demonstration system in Münster, the optimization of large -scale processing and the implementation of commercial projects with key players in the textile industry,” said the company on Tuesday. With these steps, Eeden now wants to build on “the successful validation of technology on a pilot scale with industrial partners”.
According to its own statements, the company, founded in 2019, has “developed a chemical recycling technology that gains pure cellulose and PET modules (monomers) from cotton-polyester mixture”. The raw materials prepared in this way can therefore be used “to produce new lyocell, viscose and polyester fibers and thus offer a resource-saving alternative to conventional fibers as well as access to new circular value chains”.
CEO Gerlach is “proud” of the trust of the investors
According to a announcement by the Dutch Fund Forbion, Henkel Ventures and NRW.VENTURE, the latest financing round as the new donor. In addition, the existing investors were Techvision Fonds (TVF), High-Tech Founder Fund (HTGF) and D11Z. Ventures again.
Steffen Gerlach, the CEO and co -founder of Eeden, was pleased with the trust of donors in the young company. “In the past few years we have developed a proven solution that has the potential to cover the long -term needs of the industry according to powerful, cost -effective and circular materials,” he said in a statement. “We are proud that our new and existing investors believe in our approach and share our vision. With their support, we are ready to scale our technology and to transform textile waste into materials that the industry really needs.”