All Renewcell articles
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ArticleBankrupt Renewcell sells pilot plant to manufacturer of non-oil absorption materials
Six weeks after Renewcell’s liquidator, Lars-Henrik Andersson, announced that several bids had been made for the business and assets of Swedish textile recycler Re:NewCell AB, Biosorbe, a Swedish company that produces a bio-based product for absorbing spilled oil, announced on Tuesday that it has acquired the bankrupt textile recycler’s pilot ...
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News briefsMultiple purchase bids to save Renewcell
The Renewcell bankruptcy trustee has confirmed that “multiple bids” have been made for the business and assets of Swedish textile recycler Re:NewCell AB (Renewcell). The deadline for receiving purchase offers was March 28. These offers will now undergo a review process, with final closing expected in mid-April. The Board ...
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ArticleSpinnova reports disappointing FY, announces new strategy and job cuts
Finnish sustainable fiber production specialist Spinnova, listed on Nasdaq First North Growth Market Finland, has closed its financial year 2023 with high losses and declining sales and has therefore announced a new strategic direction and a resulting reduction in staff. In 2023, Spinnova generated revenue of €10.6 million, which was ...
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ArticleRenewcell files for bankruptcy
After the Swedish textile recycler postponed its annual report for the second time for economic reasons, the Board of Directors decided on Feb. 25 to file for bankruptcy of Re:NewCell AB (Renewcell). The bankruptcy petition will be filed with the Stockholm District Court. The reason for the decision to file ...
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News briefsRenewcell expands its Circulose Supplier Setwork
Renewcell, the Swedish textile-to-textile recycler, has announced that 35 new members have joined its Circulose Supplier Network, now totaling 151 members, including spinners, weavers, textile mills, garment manufacturers and more. The latest cohort comprises suppliers with vertical operations (10), yarn spinners (16), garment manufacturers (4), and home and denim textile ...
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News briefsRenewcell to lay off 30 employees
In November 2023, the Swedish textile recycler Renewcell announced that it had been forced to conduct a strategic review due to financial strains and liquidity problems as a result of declining sales volumes. The company has now completed the restructuring, which has led to the dismissal of 30 employees, i.e., ...
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News briefsRenewcell ends 2023 with slight upward trend
After a rather difficult year overall, Swedish textile recycling company Renewcell reported better, albeit not outstanding, sales for last month (Dec. 1-31, 2023), although it continues to struggle with the lack of product demand. The company said it produced about 818 tons of prime-quality dissolving pulp. About 1,000 metric tons ...
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News briefsLawton takes over as CFO of Thule Group
Source: Thule Toby Lawton As already announced in July 2023, Toby Lawton took over the role of CFO of the Swedish Thule Group with the start of 2024. He succeeds Jonas Lindqvist. Lawton was most recently CFO at the Swedish textile recycling company Renewcell. At Renewcell, former ...
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News briefsRenewcell secures €9m capital injection for short-term liquidity
Swedish textile-to-textile recycling company Renewcell has entered into two short-term loans with its main shareholders, H&M Fashion AB and Girincubator AB, and – through waivers and amendments to the company’s existing financial agreements – with its existing lenders BNP Paribas, European Investment Bank (EIB), Nordea Bank Abp and AB Svensk ...
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News briefsRenewcell appoints interim CFO
Peter Schulz will join Swedish textile-to-textile recycling company Renewcell as Interim Chief Financial Officer from Jan. 1, 2024. He joins from a position as CFO at Pacific Basin Shipping in Hong Kong, which he has held for the past six years. Schulz has extensive experience as CFO of both listed ...
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News briefsRenewcell initiates strategic review
The Board of Directors of Swedish textile recycler Renewcell has initiated a strategic review regarding its capital structure and the evaluation of potential strategic alternatives to secure additional funding. The announcement comes less than a month after the appointment of Magnus Håkansson as acting CEO. The reason for the strategic ...
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ArticleRenewcell reports operating loss of €4.4m, believes in break-even
Swedish textile recycler Renewcell has reported an Ebitda result of -51 million Swedish kroner (€-4.4m) for Q3 of 2023, compared to SEK -59 million (€-5.0m) in the same period last year. Net sales amounted to SEK 84 million (€7.2m), in line with the same quarter last year. Cash flow from ...
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News briefsRenewcell with new acting CEO
The Board of Swedish textile recycler Renewcell has appointed Magnus Håkansson as the new acting CEO, effective immediately and replacing Patrik Lundström, who has led the company since 2019 and has been dismissed by the Board after the company’s sales growth has been lower than expected. Håkansson started his ...
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News briefsRenewcell expands Circulose supplier network
Swedish textile recycler Renewcell has announced the expansion of its Circulose supplier network to 116 members. Circulose is Renewcell’s 100 percent recycled textile pulp, generated from cotton-rich textile waste. Initially composed of 47 yarn and textile producers, the Circulose Supplier Network has now evolved to include a diverse range of ...
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News briefsRenewcell posted revenue surge in Q2, but still reported a net loss
Swedish textile-to-textile recycling innovator Renewcell increased net sales to 84.8 million Swedish kronor (€7.1m) in the second quarter, up from 29.7 million Swedish kronor (€2.5m) in the first quarter of 2023. The company still reported a net loss for the period, although this improved from 125.4 million Swedish kronor (€10.5m) ...
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News briefsThule Group brings in new CFO from Renewcell
Source: Thule Group Toby Lawton Toby Lawton has been appointed chief financial officer and member of the Group Management of Thule Group, based at the group’s headquarters in Malmö, Sweden. He succeeds Jonas Lindqvist, who announced his departure in May. Lindqvist had been the CFO of the ...
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News briefsRenewcell and CTA Green Fibre sign delivery agreement
Swedish textile-to-textile recycling innovator Renewcell has signed a memorandum of understanding with China Textile Academy (CTA) Green Fibre Co. Ltd, a Chinese lyocell fiber producer, for a long-term collaboration in the production of man-made cellulosic fibers. The agreement, signed by the two companies at the Intertextile Apparel show in Shanghai, ...
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News briefsFire at Renewcell 1 in Sundsvall, Sweden
A fire broke out at a facility of Swedish textile recycler Renewcell in Sundsvall, Sweden, on March 22. Nobody was injured. The fire occurred in the plant’s shredding area and was extinguished without spreading to the rest of the facility, the company said. The fire damaged one of the three ...
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News briefsRenewcell posts triple-digit sales growth in FY22
Renewcell, the Swedish dissolving pulp manufacturer, reported net sales of 12.6 million Swedish kronor (€1.1m) for the full year to Dec. 31, 2022, up from SEK 2.8 million (€253K) in the previous year. Through its patented process, the company produces a dissolving cellulose pulp known as Circulose from 100 percent ...
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News briefsThe nominees for Cellulose Fiber Innovation of the Year 2023
Six companies have been nominated for the “Cellulose Fibre Innovation of the Year 2023” award, which has reached its third edition. The award will be presented at the “Cellulose Fibers Conference 2023” on March 8-9, 2023, in Cologne, organized by the independent German research institute nova-Institute. The six nominees are ...
