Alchemie receives funding award from EIT-Climate-KIC

Alchemie is pleased to announce that it has been selected as a recipient of a funding award from EIT-Climate-KIC, who are supporting clean-tech ventures to recover from the impact of the COVID-19 crisis. Alchemie was selected from a field of over three hundred EU applicants to be one of only nine businesses benefitting from this award. 

Our breakthrough new manufacturing technologies for textile dyeing (Endeavour) and finishing (Novara) have the potential to make a significant impact on global carbon emissions.  Textile dyeing and finishing is responsible for approximately 35% of the carbon footprint of the textile industry, which is itself responsible for 10% of global carbon emissions and forecast to grow to 25% by 2050. 

Alchemie’s Endeavour and Novara clean-tech textile dyeing and finishing processes are designed to deliver low-carbon, environmentally sustainable, digital manufacturing solutions that address this significant contributor to man-made climate change. “At Alchemie, we are passionate about delivering a low carbon future for our planet” explained Dr Simon Kew, Managing Director “This award from EIT-Climate-KIC has provided our Company with valuable support to help us to deliver our mission to drastically reduce the carbon footprint of the textile industry. Our Endeavour and Novara solutions are able to reduce the carbon footprint of textile dyeing and finishing by over 85%, which represents a potential global reduction of around 3%.”   

“Our entrepreneurship community has been severely affected by the COVID-19 crisis, be it through last-minute investment cancellations, losing customers, global supply chains being interrupted or even just distraction from prioritising the climate emergency in the face of immediate economic crisis,” says CEO of EIT Climate-KIC, Kirsten Dunlop. “The volume and geographical spread of applications we received for this call shows how much support is needed across Europe, it also confirms that there is both an urgent need and an opportunity for the innovation community to focus on building capability for resilience and renewal. Our team has selected ventures that will significantly contribute to building back better – maximizing the opportunity to accelerate decarbonisation and introduce sustainable solutions – and ventures that can achieve significant milestones in crisis prevention and resilience given the likelihood of further shocks.” 

Alchemie is a Cambridge-based technology Company developing the next generation of advanced cleantech digital textile manufacturing solutions.

EIT Climate-KIC is a Knowledge and Innovation Community (KIC), working to accelerate the transition to a zero-carbon, climate-resilient society.

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