But the only thing investors wanted to hear about when the company’s third quarter results landed on Tuesday was how it planned to tackle an unexpected challenge: a lack of demand.
The company, which has developed technology to recycle used cotton textiles into a feedstock for yarns like viscose and lyocell, is among a cohort of material innovators in the process of moving from pilot to commercial scale production.
It’s a significant development for the industry, which is relying on the evolution of emerging recycling technologies, bio-fabricated materials and a shift to greener agricultural practices to help meet incoming government sustainability regulations and brands’ own climate commitments.
But last month, Renewcell provided an unsettling update: while production was continuing to ramp up, the anticipated demand wasn’t there; just 129 tonnes of Circulose — the branded cellulose pulp it produces (pictured) — was delivered in October, a sharp drop off from 1,500 tonnes in September.
To read more on how the company’s first commercial volumes of recycled cellulose pulp has sent the company’s stock price plummeting and highlighted broader hurdles, head to our #linkinbio.
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? Renewcell
