20 June 2022
Infinited Fiber picks site for its planned EUR 400 million textile fibre factory investment
Fashion and textile technology company, Infinited Fiber Company, plans to build a commercial-scale factory to produce regenerated textile fibre for the world’s leading apparel companies at the site of renewable materials company Stora Enso’s closed Veitsiluoto paper mill in Kemi, a Finnish city on the northern shore of the Baltic Sea. The size of the investment is estimated at EUR 400 million, and it is expected to create around 270 jobs in the area. The annual fibre production capacity of the planned factory is expected to be 30,000 metric tons, equivalent to about 100 million T-shirts.
Infinited Fiber Company’s technology enables cotton-rich textile waste to be transformed into a versatile, high-quality regenerated textile fibre called Infinna™, which looks and feels like cotton. Major international fashion and apparel companies – including Zara’s parent company Inditex, PVH Europe, which is known for the Tommy Hilfiger brand, Patagonia, PANGAIA, H&M Group and BESTSELLER – have already committed to Infinna purchases through multi-year agreements as they look for materials that enable the industry to shift towards circularity.
Norwegian government to provide another NOK 528 million for green change
48 research and innovation projects will, among other things, develop new environmentally friendly energy, and streamline and cut CO2 emissions in the oil and gas sector. Of these, 35 projects are broadly within green energy, receiving a total of NOK 388 million in funding from the Research Council, and 13 projects within oil and gas receive NOK 140 million.
Many of the projects that receive funding in environmentally friendly energy are offshore wind and hydrogen, often redeploying knowledge and technology from the oil and gas sector to drive the renewable investment. Five new projects will contribute to the development of a sustainable Norwegian offshore wind industry on the Norwegian shelf. Two will look at the consequences of large-scale offshore wind development for migratory birds. Aker Solutions will develop prefabrication processes that make it cheaper to build foundations for floating wind turbines.
Volvo presents its' first hydrogen truck - aiming for a range of 1,000km
Volvo Trucks has built a prototype electric truck powering by fuel cells using hydrogen. According to Jessica Sandström, who has global responsibility for Volvo Trucks' product range, they are a complement to battery-powered electric vehicles, which have a limited range at present. Trucks that run on hydrogen in fuel cells, on the other hand, are expected to be able to drive up to 1,000 km, before refuelling.
Denmark will share offshore wind experiences on a new virtual platform
The Danish Energy Agency and the Ministry of Foreign Affairs are launching a portal to share Danish experiences with offshore wind and accelerate offshore wind globally.
Metsä Group joins the Ellen MacArthur Foundation's circular economy network
Metsä Group has joined the worldwide Ellen MacArthur Foundation's circular economy network as a member. The network brings together companies, innovators, universities and opinion leaders to promote a circular economy. This new cooperation project supports Metsä's goal of being a pioneer in a fossil-free circular economy. 100% utilization of production by-products, fossil-free mills and 25% more efficient use of process water are examples of Metsä's strategic 2030 sustainability goals.
Vattenfall invests in two offshore wind power projects outside Gothenburg
Vattenfall buys the majority share in two offshore wind power projects off the coast of Gothenburg from the wind power company Zephyr. The two wind power projects - Vidar and Poseidon - are located between 25 and 27 kilometres off the west coast,. Fully developed, the projects are expected to produce 10.5 TWh of fossil-free electricity annually (around 7% of Sweden’s current demand).
About Nordic Green News
The Nordic countries are some of the most dynamic and successful economies in the world. They are also leaders in sustainability, from renewable energy, biofuels, carbon capture and storage and the hydrogen economy, circular economy business models and battery development, the Nordics are pioneers in policy design, technology development and consumer uptake. Mundus Nordic Green News is covering this transition for the international community. Every day we curate the stories of most relevance to international businesspeople and policy experts from the flow of news. Mundus Nordic Green Indices summarise the meta-data from our daily coverage to enable easy tracking of trends. We supplement these with our own opinion pieces and commentary.
Powered by Notified