TEXTILES.ORG
Circ® announced it has closed a $25 million investment round led by Taranis through its Carbon Ventures fund, with continued support from existing investors, including Inditex and Avery Dennison. Circ is based in Danville, Va.
This latest funding builds on the company’s technical and commercial progress over the past 18 months and will help the company to scale its recycling technology, advancing its mission to transform waste from the fashion industry into a circular solution.
Circ has had successful public collaborations with several companies, including Zara, Mara Hoffman, United Arrows, Chrisitan Siriano, among others.
As the company moves toward launching its first industrial-scale blended textile recycling plant, Taranis, owned by the Perenco Group, will aid in developing and operating large industrial projects.
“This chapter of Circ’s journey—scaling textile recycling to an industrial level—requires that we build on our proven technology with world-class engineering, operations and strategic investment from mission-aligned partners,” says Peter Majeranowski, CEO of Circ. “Taranis brings exactly that. Their industrial expertise, paired with our innovation, positions Circ to accelerate the transition to a circular fashion economy.”
“Circ has developed and demonstrated a breakthrough solution for circularity in fashion, and we believe our industrial expertise can help take it to the next level,” says Emmanuel Colombel, CEO of Taranis. “Our goal is to support scalable, pragmatic technologies that reduce waste and emissions. Circ’s vision aligns perfectly with that mission, and we’re excited to support Circ in its journey toward a more circular and responsible fashion industry.”