Green Theme Technologies Inc (GTT), a maker of water-free and PFAS-free textile finishing, said it has raised $5.4 million in its series B2 financing.
This influx of capital will be used to grow GTT’s water-free Empel performance technologies, which now includes a durable water repellent (DWR) finish, stain protection, a new technology to keep footwear dry and the ongoing joint development of water-free dye (WFD) with mill and brand partners. The technology uniformly fuses PFAS-free chemistries to each fiber in a fabric.
“We are very pleased with the engaged support from a knowledgeable investment team like Cottonwood Technology Fund that understands GTT technology and wants to create solutions for the growing environmental pollution created by textile manufacturing,” said Martin Flora, vice president of business development with GTT.
“Legislation like the recent California Bill signed into law last month banning PFAS chemistries in textiles by 2025 are driving mills and brands to adopt the GTT Empel solution more rapidly,” Flora continued. “In addition to legislative pressure, textile manufacturers and apparel brands are starting to realize that inefficient traditional water-based textile dyeing and finishing methods are extremely wasteful in energy, create huge amounts of water pollution, remediation costs and deliver inferior performance compared to GTT’s Empel water-free processes.”
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The lead investor in the series B2 round, Cottonwood Technology Fund focuses on disruptive science-based inventions.
“Cottonwood invests in hard science and deep tech start-ups that are poised to disrupt large markets,” said David Blivin, managing partner with Cottonwood. “We see real opportunity with Green Theme to become the new global industry standard for high performance, low impact textile finishing, which is why we are proud to invest in them.”
GTT also has the support from investment groups like Phoenix Venture Partners, which targets advanced material science technologies, and Safer Made, focused on cleaner chemistry technologies to bring safer products to the market.
By replacing traditional water-based wet textile finishing processes with efficient and water-free and PFAS -free Empel technology, GTT and its licensing partners are directly reducing global water pollution.
GTT is a textile innovation company with the mission to create products that out-perform existing technologies, while eliminating toxic chemicals, water usage and pollution.