Nanollose Limited takes their world first sustainable fibre technology to the ASX, with ambitions to shake up the clothing and textile industries.
Founder Gary Cass working with early stage ‘Plant Free’ Cellulose fibres that could have a positive effect on the textile and fashion industries.
Wednesday 18th October 2017: Australian company Nanollose Ltd has raised AU$5,000,000 from investors, and today will list on the Australian Securities Exchange under the code ASX: NC6.
The Company plans to continue its development in fibre production over the next 8-12 months, and work towards a Plant-Free fibre that could become a sustainable alternative to commonly used but environmentally damaging fibres such as cotton. If successful, this would mark a significant breakthrough for the global fibre industry.
Managing Director Alfie Germano says the company’s listing marks an exciting time for Nanollose;
With increasing environmental concerns associated with the production of fibres from cotton and other plant based sources, Nanollose MD Alfie Germano, wants to be an ambassador for industry betterment with a new sustainable fibre.
“Today, we use plants and trees to make fibres for textiles. With the funds raised under the IPO we hope to significantly advance and commercialise our fibre technology to a point where it can be used to make clothing and textiles, without the environmentally damaging footprint.”
The current procurement of raw materials like cotton and wood to make clothing and textiles is highly resource intensive, with crops like cotton requiring large amounts of water, land and pesticides. And every year millions of trees are cut, chipped and then treated with chemicals to make the clothing.
By contrast, Nanollose uses microbes that ferment biomass waste products from the food and beverage industries into cellulose fibres, in a process that requires very little land, water or energy.
Fibre materials produced by Nanollose technology.
A production cycle is also dramatically faster at just 18 days, compared to the eight months seen in the cotton industry.
Mr Germono’s first target is the US$500 billion global clothing and textile industry, and says there is increasing urgency from brands, retailers and manufacturers to seek and cultivate alternative fibre resources.
“Progressive brands and companies are starting to facilitate this new shift by involving themselves deeper in the supply chain and searching for feasible, sustainable long-term alternatives, and we want to be part of the solution” Mr Germano said.
This urgency for cleaner alternatives recently saw retail juggernaut H&M release a sustainability report in April, highlighting their commitment to use 100% sustainably sourced materials by 2030. And Zara joined the movement with the launch of their new sustainable line ‘Join Life’ modelled by Sasha Pivovrova.
Nanollose issued 25,000,000 shares at $0.20 each under its IPO giving it a market capitalisation of $14.9m. MacEquity Partners acted as lead broker and View Street Partners acted as Corporate Advisor for the IPO.
Nanollose is an Australian company that uses a low cost and eco-friendly fermentation process to grow fibres that could become a sustainable alternative.
The company’s process, which uses streams from various large-scale industries like sugar, wine and food, has the ability to produce ‘Plant-Free’ Cellulose.
Cellulose is the hidden building block polymer most consumers no nothing about, but forms a huge part of items used in their everyday life such as paper, clothing and hygiene products.