Rester, Finnish global forerunner in building textile recovery value chains, has secured EUR six million in growth funding. The company will use the funds to scale up and internationalise. The recycled fiber processed by Rester can be used, for example, in the textile industry to produce fabrics or technical textiles, and in the construction industry for the production of insulation and composite materials and acoustic panels.
The round was led by Lindström Group, becoming a significant minority owner. Other new owners include family-owned investment company Besodos Investors Oy and Taaleri Sijoitus Oy. Tesi (Finnish Industry Investment) also made an initial investment in the company.
”The textile industry is a major source of greenhouse emissions in the global economy and consumes vast amounts of water. Still, recycling and reuse of textiles, which would decrease the environment load, is far from optimal. Our investment in Rester has a concrete impact and promotes sustainable business as the company scales up and expands globally,” comments Mikael Niemi, Investment Director at Tesi.
Tesi invested in Rester from its circular economy programme with which Tesi promotes material efficiency and carbon neutrality. The programme that invests in both funds and growth companies kickstarted in 2018, sized at EUR 75 million.
”We are putting strong emphasis on growth and internationalisation, and by doing so, work on green transition in the textile industry. For us, Tesi is an important partner in our growth path where value chains become increasingly built up around global players in the industry. Having got Tesi on board meant that the funding round was as optimal as it could have been,” says gladly Outi Luukko, CEO of Rester.
Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, hand-in-hand with co-investors, to create the world’s new success stories. Our investments under management total 2.1 billion euros. www.tesi.fi | @TesiFII
Rester is a leading global forerunner in building textile recovery value chains. Located in Southwest Finland, the company offers textile recycling solutions that can be used to process end-of-life textiles and by-products of manufacturing into recycled fibers and quality raw materials. During the process, the textiles are opened mechanically back into fibers. Rester recovered fiber can be used by a great diversity of sectors to replace virgin raw material. Our customer base consists of businesses that supply us with end-of-life textiles that they no longer need and businesses that use recycled Rester fiber in their production or for their products. Founded in 2019, Rester began its operations in November 2021. Rester’s principal owner is Touchpoint Oy, a manufacturer of ecological workwear. www.rester.fi