Paris-based Faibrics, which is developing a technology to convert CO2 emissions into high value polyester through a circular manufacturing approach, has raised €17 million from the European Union’s Horizon 2020 Research and Innovation Programme and a further €5 million from partners involved in its technology upscaling project.

The EU’s grant was awarded to a consortium coordinated by Fairbrics that brings together 13 partners from seven countries throughout Europe, ranging from upstream and process development experts in engineering design, CO2 capture, chemical reuse and electrolyzers to final product specialists including Faurecia for automotive and Les Tissages de Charlieu for textiles.

To prompt societal impact, the project also includes a strong educational component and together with academic partners will develop learning and training resources on CO2 valorisation for young professionals, university students and lifelong learners.

The combined funds will be used to upscale Fairbrics’ technology, first in a pilot line of 100 kg per day by 2024 and later, by 2026, in a one ton-per-day demonstration plant.

“By using CO2 emissions instead of fossil resources to manufacture polyester, Fairbrics addresses one of the greatest global challenges –greenhouse gas emissions,” said Benoît Illy, co-founder and CEO of Fairbrics. “This funding comes as a strong recognition of what we have accomplished so far, the quality of the consortium we have brought together and the extraordinary potential of our technology to provide highly polluting industries like textiles with an alternate environment-friendly and economically viable solution.”

Fairbrics will initially address the fashion industry and has already secured strategic partnerships with major brands such as H&M, On-Running and Aigle. It intends to progressively diversify its technology platform with solutions addressing other sectors such as sports equipment, packaging and automotive.

Fairbrics partners in the technology upscaling project are the University of Antwerp (Belgium), Tecnalia (Spain), Lappeenrannan Lahden (Finland), Aimplas (Spain), CiaoTech (Italy), DITF Denkendorf (Germany), Lappeenranta Villmanstrand (Finland), Digiotouch (Estonia), Faurecia (France), Naldeo (France), SurePure (Belgium) and  Les Tissages de Charlieu (France).

www.fairbrics.co