Boss and Lycra Invest in Heiq AeoniQ Yarns

“The financial commitments by such prestigious companies as Hugo Boss and The Lycra Company are strong endorsements of HeiQ AeoniQ's game-changing potential. This also demonstrates our ability to commercialize our HeiQ AeoniQ IP, now with an implied valuation of US$200M. HeiQ AeoniQ yarn is a versatile alternative to polyester and nylon and its climate positive qualities create a very exciting market opportunity for HeiQ, as fashion brands and retailers come under increasing pressure to do their part in decarbonising their products and reduce their environmental footprints,” commented Carlo Centonze, co-founder & Group CEO of HeiQ.

HeiQ AeoniQ yarns are made from cellulosic biopolymers that during growth bind carbon from the atmosphere. HeiQ AeoniQ yarn is designed to substitute existing oil-based filament yarns, such as environmentally persistent polyester and nylon, which constitute over 60% of global annual textile output of 111 M metric tons. The global polyester and nylon fibre market is worth an estimated US$135 billion USD with a CAGR of >3.5% over the next decade (Statista). For every ton of polyester and nylon substituted by HeiQ AeoniQ, potentially up to 5 tons of CO2 can be reduced, HeiQ says.

When compared to conventional polyester, nylon, cotton and conventional regenerated cellulosic products, the production of HeiQ AeoniQ yarns has the potential to transform the environmental impact of fibre production, as it is designed to be circular, uses 100% renewable energy for manufacturing, features a closed-loop recycling of more than 99.5% of productive factors, uses no toxic chemicals, and does not draw on arable land, pesticides or fertilizers for its feedstock.