Renewcell has sold one of its manufacturing sites to Biosorbe.

Biosorbe will use Renewcell’s 10,000 square metre factory to expand production of its oil-absorbing materials.

Renewcell previously used textile waste to create new textile fibres at the site. The company also owns a scaled plant in Sundsvall, Sweden.

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The company filed for bankruptcy in February 2024, citing a lack of funding and reduced interest in recycled fibres from the fashion industry.

The site also includes 2,000 square metres of process space as well as space for stock management, conference rooms and changing rooms.

Biosorbe said it expects to start production at the Kristinehamn site in May 2024 and plans to use the new factory to package its absorbent materials in a new way, making it easier to ship the product abroad.

“Right now we are in the process of moving into the premises and preparing for the start of production,” explained Biosorbe’s CEO Kajsa Fougner. “The acquisition of the Kristinehamn factory will also mean that Biosorbe’s headquarters will move from Karlstad to Kristinehamn in the near future, as part of the ongoing development. Biosorbe is developing on many levels.”

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In March, Renewcell’s bankruptcy trustees announced that “multiple bids” had been submitted for the business and its assets with a final closing expected in the middle of April.

The maker of the recycled fibre circulose said its decision to file for bankruptcy followed advanced negotiations with its two largest shareholders Swedish fashion brand H&M and biotech company Girindus, as well as its existing lenders, potential new investors and other stakeholders.

Non-profit Canopy’s founder and executive director Nicole Rycroft previously called on the fashion industry to rescue Renewcell’s recycled fibre operations.