Spearheaded by Taranis via its Carbon Ventures fund, Circ’s investment round saw participation from existing backers such as Zara owner Inditex, and material science company Avery Dennison.
The infusion of new capital marks a significant milestone for Circ, building upon 18 months of substantial technical advancements and commercial strides.
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The funds will be instrumental in scaling up Circ’s recycling technology, driving forward its goal to convert the fashion industry’s waste challenge into a sustainable, circular economy model.
Circ is capable of recycling blended polycotton fabrics and reclaiming both components for reuse in textiles.
The company has already forged successful public partnerships with major brands including Zara, Mara Hoffman, United Arrows, and Christian Siriano.
With plans to inaugurate its first large-scale facility dedicated to recycling blended textiles, Circ’s collaboration with Taranis extends beyond financial support.
Taranis, an investment and asset management company owned by Perenco Group, will lend expertise in large-scale industrial project development and operations. Its proficiency in engineering high-capacity processes is expected to be crucial for the global commercialisation of Circ’s technology.
Circ CEO Peter Majeranowski said: “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.
“Taranis brings exactly that. Its industrial expertise, paired with our innovation, positions Circ to accelerate the transition to a circular fashion economy.”
Taranis views Circ’s business model as pivotal in diminishing the environmental footprint of global supply chains.
The company plans to validate Circ’s processes technically to expedite the shift from pilot to full-scale production.
Taranis CEO Emmanuel Colombel said: “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.
“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.”
In January this year, Circ unveiled a new initiative that seeks to assist companies in integrating recycled materials into their products.
