Nanollose has signed another key collaboration agreement as interest continues to grow in its eco-friendly microbial cellulose-based technology.
Australian-based biomaterial technology company Nanollose (ASX: NC6) has entered into a collaboration agreement with Paradise Textiles, which is working to reinvent the fabric of fashion.
Paradise brings to market consciously crafted fabrics and is the technology first, material science, innovation hub of award-winning apparel manufacturer Alpine Group.
Alpine Group is set to be the first apparel manufacturing group to take on the Future Fit Benchmark, a science-based strategic management tool that aligns with the UN Sustainable Development Goals.
The company was founded in 1981 in Taiwan, and has gone on to establish operations in the US, Singapore, Egypt, Jordan, Dubai, Taiwan and China, becoming a trusted partner to some of the biggest brand names in apparel, including The North Face, Sweaty Betty and Abercrombie and Fitch in the process.
Working to incorporate Nanollose’s Nullarbor fibres
Nanollose and Paradise are aiming to work closely together to develop and manufacture yarns and textiles incorporating Nanollose’s Nullarbor fibres.
Nanollose will provide an initial 135kg of Nullabor-20 to Paradise, who will then convert the fibre into a variety of yarns and textiles, which will then be provided to selected apparel makers and fashion brands with whom Nanollose is finalising agreements.
If all goes well, Nanollose is set to provide ongoing supply of Nullarbor fibres to Paradise for their use in commercial manufacture of yarns and/or textiles.
Shares in Nanollose are up ~2.44% on the news to ~8.4 cents
Shared vision and goals for sustainable fashion
Executive Chairman Dr Wayne Best said the collaboration lets Nanollose partner again with an organisation that shares its vision for creating a more sustainable fashion industry.
“Paradise’s innovation capabilities and expertise will enable us to generate innovative, sustainable, and high-quality materials in keeping with the fibre itself,” Best said.
“The collaboration will also generate the quantity and variety of samples required by brand partners.”
“We are delighted to be partnering with Nanollose,” Co-Founder and Chairman of Paradise Textiles and the Alpine Group Ashok Mahtani said, adding that sustainability has been a core value of the group for 40 years.
“As we work to realise our vision of making fashion fit for the future, collaborations like our latest partnership with Nanollose are important in helping us collectively change fashion’s broken business model,” he said.
“Sustainable material innovation and reducing the impact of the industry on the environment is vital to the future of our planet and we look forward to bringing the results of our partnership to fruition.”
Key collaborations and partnerships
Nanollose has entered several key collaborations and partnerships as it moves to get its forest-friendly Nullarbor fibres to market.
In February the company announced it had completed the first pilot scale spin of its forest-friendly, sustainable Nullarbor-20 lyocell fibre with its strategic partner, Birla Cellulose – a global leader in man-made cellulosic fibre manufacturing and part of the Aditya Birla Group.
The first collaboration agreement secured by the company was with Orta Anadolu Ticaret Ve Sanayi İşletmesi T.A.Ş, a global leader in the development, manufacture and supply of sustainable denim.
And earlier this month, the company announced it had entered a collaboration agreement with US vegan leather and materials company von Holzhausen.
Its tree-free rayon fibres have also featured in Canopy Planet’s “Next Generation Solutions” campaign, with legendary British-American model and environmental activist Arizona Muse modelling its first-generation viscose sweater.
This article was developed in collaboration with Nanollose, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.