London-based sustainable textile brand Ananas Anam has received an investment of €250,000 EUR, which it states will help employ more people and thus scale the company.
Ananas Anam’s flagship product, PIÑATEX, repurposes pineapple leaves to form a leather substitute. The process in which PIÑATEX is made is actually more beneficial for the planet, as it not only sources from biodegradable and organic material, but also releases less CO2 than burning or letting the leaves rot would.
Ananas Anam has worked with large brands, such as Nike, H&M, and Hugo Boss. It is now turning its focus to expanding PIÑATEX’s application to accessories, homewares, and upholstery. The hope is that these product extensions will spur more prestigious names to join its portfolio of partners.
The funding comes from the Greater London Investment Fund (GLIF), which was provided by the FSE group and insured by the Recovery Loan Scheme (RLS). GLIF is a €100 million EUR initiative to help promote small and medium entrepreneurships, as well as sustainable projects. FSE Group investment manager David Booth laid out that tapping into the “commercial traction” was an instrumental aspect that FSE saw as “impressive and [therefore] confident that [Ananas Anam has] a bright future ahead.”
Melanie Broyé-Engelkes, CEO at Ananas Anam, added, “We are grateful for the support from The FSE Group which will enable Ananas Anam to further expand our team and operations; continuing to build PIÑATEX globally and make even greater progress in realizing the company vision of a more sustainable future.”
Maggie Rodriguez-Piza, CEO at Funding London, ended on a positive note, stating that “Ananas Anam is proof that much needed sustainable alternatives can be successfully developed to replace products with negative environmental impact. We are truly impressed by the versatility of this innovative product, its positive social and economic impact, and the calibre of brands the company already counts as clients.”
In other material news, GORE-TEX just unveiled a thinner, lighter and more sustainable membrane for apparel.
Source: The FSE Group