Marubeni : Additional Investment in Circ, Inc., a Company with Revolutionary Textile Product Recycling Technology
July 13, 2022 at 10:14 pm EDT
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Jul. 14. 2022
Marubeni Corporation
Marubeni Corporation (hereinafter, "Marubeni"), through Marubeni America Corporation, has made additional investment in Circ, Inc (formerly, TYTON BioSciences LLC; hereinafter, "Circ"), a company that has invented prominent technology for recycling products with any blend of cotton/polyester into cellulose and polyester materials.
Marubeni initially invested in Circ in August 2019 to solve social and environmental issues such as textile waste disposal. Since then,Circ has steadily worked to verify the quality of recycled products at a pilot plant. As demand for capital to construct mass-production plants has been increasing, Marubeni participated in this recent round of capitalization, along with Inditex, one of the world's largest fashion retailers, and Milliken & Company, a leading American textile manufacturer and materials company.
Marubeni will focus on accelerating the reduction of waste and the materialization of a circular economy* by establishing a domestic and pan Asian supply chain, from waste collection to selling recycled products, utilizing Marubeni's global network and Circ's technology.
Marubeni released its Mid-Term Management Strategy "GC2024" in February 2022, which focuses on becoming a "Forerunner in Green Business" by "Expanding Green Business" and "Creating New Green Business." Marubeni will continue to deliver products and services in accordance with consumer and customer demands and requirements in the environmental field, contributing to solving social and environmental issues for sustainable growth in the textile industry by establishing a circular supply chain through recycling textile products and fully integrating them into the garment supply chain.
*Circular Economy:
A business model in which products, components, and resources are fully utilized and can be cyclically recycled or reused, rather than a one-way economic system which is based on extracting and then discarding resources.
Overview of Circ
Company name:
Circ, Inc.
Head Office:
Virginia, U.S.A.
Establishment:
November 2011
Representative:
Peter Majeranowski
Business Area:
Manufacture and sale of recycled textile materials
Marubeni Corporation published this content on 14 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 July 2022 02:13:05 UTC.
Marubeni Corporation is a diversified group organized primarily around 12 business segments:
- sale of agricultural products and related services (47% of net sales): sale of agricultural inputs (crop protection products, fertilizers, seeds, etc.), precision farming services, formulation of crop protection products, export of cereals and oilseeds, etc.;
- sale of food products (17.6%);
- production and distribution of oil, gas, alternative energy and electricity (10.4%);
- production of chemicals and petrochemicals (6.4%);
- production of metals and mineral resources (4.9%);
- sale and financing of industrial and construction machinery and equipment (4.6%). The group also develops car sales and tire distribution activities;
- sales of consumer electronics (4.3%). In addition, the group develops real estate development and management activities;
- sale of forest products (2.3%): wood chips and biomass fuel, pulp and waste paper, paper, paperboard, hygiene products, building & construction materials and wood products;
- sale of apparel, accessories, textile and lifestyle products (1.1%);
- management and operation of aircraft and ships (1%);
- development of energy production units and industrial installations (0.3%);
- finance and leasing (0.1%): auto finance, aircraft leasing, aircraft engine leasing, leasing and renting of refrigerated trailers, commercial vehicles and commercial freight railcars, etc.
Net sales are distributed geographically as follows: Japan (37.2%), the United States (42.5%)
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