The co-founders of BlockTexx, Graham Ross and Adrian Jones announced that the company has closed its second investment round. Private investment and government funding contributed to the AUD $5.5M capital raise in recognition of BlockTexx’s S.O.F.T. (separation of fibre technology) process as a solution to the textile waste problem in Australia and across the world.
The federal government held a first national roundtable on textile waste on Wednesday – recognition of a piling-up problem that results in Australians discarding an estimated 780,000 tonnes of textile waste each year, according to a 2020 national waste report.
Blocktexx has developed its process with researchers at the Queensland University of Technology. The company hopes it can help “close the loop” by diverting textiles from landfill, and at the same time replacing virgin material.
BlockTexx is now underway to build and commission its world-first, commercial-scale, resource recovery facility.
To date, investment in innovation in this space has been lacking, BlockTexx is excited to bring our world leading resource recovery technology to the market.
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