“I am proud that the Renewcell team has been able to put together a project that meets the high standards of trusted financial institutions such as Nordea, SEK and Finnvera. They know the pulp industry through and through and will now play an invaluable role in ensuring the successful scale up of our innovation. I am confident that more lenders will now follow their lead in financing the Industrial Evolution to circularity and sustainability globally.” comments Patrik Lundström, CEO of Renewcell.

This loan facility, together with the equity raised in the recent IPO, will enable Renewcell to execute its plans to build and commission a 60,000 tonne capacity textile recycling plant in Sundsvall, Sweden. The plant will be built on SCA’s industrial site Ortviken, Sundsvall, in a building currently housing a publication paper machine undergoing decommissioning. Following construction throughout 2021, Renewcell plans to begin ramping up production of its 100% recycled and branded Circulose® dissolving pulp at the new plant in the first half of 2022. Vinge acted as Renewcell’s legal advisor for the loan facility agreement.