Green Theme Technologies (GTT), a specialist in creating sustainable solutions for the textile and fashion industries, announced the first close of its Series B financing, hitting its goal of $3.5 million.
The funding will be used to grow the company’s sustainable and performance-driven platform technologies, including the water-free Empel textile finishing process, as well as hiring new employees and supporting licensing partners.
“We are pleased with our fundraising performance and will use the Series B funding to further develop and commercialize our platform technologies, including a durable water repellent (DWR) finish and our water-free dye (WFD) product,” said Jordan Clancy, chief financial officer at GTT. “Within the next six months, we will double our headcount in New Mexico, expanding our team to support commercialization, licensees and accelerate revenue growth.”
Notable investors in the Series B round included Phoenix Venture Partners and Safer Made, both of which invest in sustainably focused inventions, platforms and companies taking an active role in creating a green future for the planet.
GTT noted that the textile and fashion industries are the second biggest water polluters on earth and Green Theme’s business model intends to change that. By replacing traditional water-based wet finishing processes currently used to apply water repellents and dyes with the clean, efficient and water-free Empel process, GTT and its licensing partners are directly reducing the amount of water pollution in the world to create cleaner, better performing, and more sustainable textile products.
The Empel process takes simple monomers and bonds them together as performance-enhancing polymer chains to encapsulate each fiber of the fabric. The process uses thermal curing to create a molecular covalent bond between monomers and the fibers in the fabrics treated with GTT’s patented “Clean Chemistry.” Thermal curing is accomplished by passing Empel treated fabric through a heated zone, causing molecular bonding and polymerization to occur.
Empel is powering new levels of performance and sustainability for brands in the sport, outdoor, and fashion industries. Green Theme Technologies’ mission is to create products that outperform existing technologies while eliminating water usage and pollution.