CA-RECOVER
10.12.2020 14:02:12 CET | Business Wire | Press release
Recover™ , a leading material sciences company and producer of sustainable, premium recycled cotton fiber and cotton fiber blends, through a strategic partnership with STORY3 Capital, is expanding to meet the surging demand from the global fashion industry. This strategic partnership will accelerate Recover’s efforts to transform the fashion industry by solving one of the world’s biggest environmental issues. STORY3 Capital brings significant investment, resources, and best-in-class operators to achieve Recover’s growth initiatives.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201210005187/en/
The adverse environmental impact of the fashion industry is staggering, and the industry is lagging behind its climate action commitments and Sustainable Development Goals (SDGs). Cotton is one of the most damaging crops grown on earth, requiring large amounts of water, pesticides, and land. As an example, one t-shirt requires 2,700 liters of water, equivalent to what an average person drinks in three years(1) .
Recover recycles industrial and pre- and post-consumer cotton waste, replacing the need to cultivate cotton, limiting the use of dyes through its ColorBlend system, and reducing textile landfill waste. Through its proprietary technology using a combination of art and science, Recover provides cost competitive, maximum performance fibers for both rotor and ring spinning applications. Per the Higg Material Sustainability Index, Recover’s recycled cotton fiber has the lowest environmental impact score in the world.
As a result of the investment, Recover will increase its production to 200,000 metric tons of recycled cotton fiber per year by 2025. This will save nearly three trillion liters of water each year, equivalent to the drinking water consumed by 3 billion people on an annual basis, and allow 500,000 acres of land to be directed away from cotton cultivation for other uses.
Peter Comisar, Founder and CEO of STORY3 Capital and former Partner at Goldman Sachs & Co. said, “Recover is uniquely positioned to be the global sustainability leader in cotton recycling by acting as an agent of change within the industry, and quickly becoming the gold standard in closing the loop on fashion.” Ben Malka, Operating Partner at STORY3 Capital and Executive Chairman of Recover stated, “We immediately saw the potential to impact the pent-up demand for recycled cotton by scaling production and working with the industry to innovate and migrate to Recover Fibers.”
Recover is part of a fourth-generation family-owned company with a 70-year long history in textile recycling technology. Under the leadership of the Ferre family, Recover has specialized in creating premium recycled cotton fiber from textile waste using proprietary technology and innovative mechanical recycling machinery. The fiber is ultimately spun into yarn by supply chain partners and transformed into finished apparel garments and home textiles. Recover has supplied its recycled cotton and cotton blend fibers to illustrious brands such as Wrangler, H&M Group, Tommy Hilfiger, G-Star, The Northface, Billabong and Bonobo among many others during its rich history.
“My family has been innovating for generations to perfect the Recover process, which is primed to be fashion industry’s biggest resource in meeting its sustainability goals,” said Alfredo Ferre, CEO of Recover. “We’re proud to offer potential partners the highest quality and lowest-impact fiber available in today’s market, and we look forward to increasing our sustainability footprint thanks to our partnership with STORY3 Capital.”
For more information and to stay updated on Recover, visit www.Recovertex.com , or email hello@Recovertex.com .
About Recover:
Recover is a leading material sciences company and global producer of low-impact, high-performance recycled cotton fiber and cotton fiber blends. Its premium environmentally friendly, cost-competitive products are created in partnership with the supply chain for global retailers and brands, offering a sustainable solution to close the loop on fashion. As a fourth-generation, family-owned company with a 70-year long history in the textile industry, Recover is on a mission to scale its proprietary technology to make a lasting positive impact on the environment and partner with brands/retailers and other change makers to meet the industry’s sustainability targets. For more information, visit www.Recovertex.com and follow Recover on LinkedIn .
About STORY3:
STORY3 Capital is a leading alternative investment manager with deep experience in creating value within the consumer sector. STORY3 employs a flexible investment strategy and seeks to invest across the consumer value chain to deliver innovative investment solutions across market cycles. Paramount to its investment lens is a focus on companies at the nexus of consumer, commerce and content, where STORY3 believes its capital, skillset, and relationships can substantially impact value creation and investment returns. For more information, please visit www.story3capital.com .
(1) World Water Day – Call to action to address the global water scarcity problem
View source version on businesswire.com: https://www.businesswire.com/news/home/20201210005187/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
FDA Issues Modified Risk Tobacco Product Orders for 20 ZYN Nicotine Pouch Products30.6.2026 18:19:00 CEST | Press release
FDA’s decision makes ZYN the first nicotine pouch product to receive MRTP orders authorizing reduced-risk claims versus cigarettes Philip Morris International Inc. (PMI) (NYSE: PM) today announced that the U.S. Food and Drug Administration (FDA) issued Modified Risk Tobacco Product (MRTP) orders for 20 variants of ZYN nicotine pouch products. These are the first MRTP orders granted for nicotine pouches, allowing PMI U.S. to market the following claim for the authorized ZYN products: “Using ZYN instead of cigarettes puts you at a lower risk of mouth cancer, heart disease, lung cancer, stroke, emphysema, and chronic bronchitis.” “FDA’s decision is an important moment for the more than 45 million legal-age nicotine consumers in America,” saidStacey Kennedy, PMI U.S. CEO. “Today’s news ensures these adultshave access to accurate, science-based information, including FDA-authorized evidence that switching from cigarettes to ZYN reduces the risk of smoking-related diseases like heart disease
Caidya Announces Strategic Combination with Simbec-Orion Bridging Early Scientific Insight and Global Clinical Execution30.6.2026 17:00:00 CEST | Press release
Caidya today announced a strategic combination with Simbec-Orion designed to close the divide between early scientific insight and global clinical execution. The combination of Caidya and Simbec-Orion creates a differentiated specialty clinical CRO platform that enables programs to scale, maintaining focus, speed, and accountability. The strategic combination brings together complementary strengths to create a more complete development partner for innovative biopharma companies. With established operations across Europe, the Americas, APAC, and China, the combined organization provides meaningful expertise and execution capabilities in the regions that matter most. Simbec-Orion brings early-phase clinical pharmacology capabilities alongside deep therapeutic expertise for later stage complex oncology and rare disease trials, helping sponsors shape critical decisions early in the development lifecycle. Together, the organizations strengthen their ability to support complex, cross-border
Archer® Proves Purpose-Built AI Beats General-Purpose LLMs on Regulatory Change Management: 95% Verified Accuracy, 80x Faster, 92% Lower Cost30.6.2026 16:13:00 CEST | Press release
In a head-to-head benchmark, a leading general-purpose LLM was confidently wrong 35% of the time on regulatory dates. Archer Evolv™ shipped zero errors. For enterprises deploying AI in compliance, a wrong date is a missed deadline. The more dangerous failure is a wrong answer the model returns with high confidence, one that flows silently into a compliance calendar and is only discovered after the window has passed. Archer® today released results showing purpose-built AI beats a general-purpose large language model (LLM) on regulatory work, and it’s not close. This head-to-head test compared Archer’s purpose-built, vertical-specific AI and proprietary data sets against a leading general-purpose LLM, on a core compliance task: determining the publication, effective and comment-close dates of regulatory documents across six jurisdictions. General-purpose models are a genuine breakthrough, and this is no referendum on their quality. The question Archer set out to answer is narrower and mo
Altasciences Supports Key Development Milestone for Steel Therapeutics’ Lead Therapeutic Candidate, Fizurex™30.6.2026 16:08:00 CEST | Press release
Altasciences, a leading drug development organization, today announced a significant milestone in the development of Steel Therapeutics, Inc.’s pivotal toxicology study for its lead product candidate, Fizurex™, for the treatment of anal fissures. The successful completion of the study plays a significant role in the advancement of Fizurex™ toward first-in-human trials. The GLP-compliant study demonstrated a favorable safety profile, which has advanced Steel Therapeutics' plans to submit an Investigational New Drug (IND) application for Fizurex™ to the FDA in Q3 2026. Fizurex™, a patent-pending, single-use topical wipe, was designed to provide a standardized, accessible treatment option for a painful and often undertreated medical condition. The product builds on years of use through compounding pharmacy prescriptions and is now advancing toward clinical development and regulatory review. "We are proud to have supported Steel Therapeutics with the generation of the high-quality safety d
Interactive Brokers Expands Access to Korean Equities with Launch of Nextrade ATS30.6.2026 16:00:00 CEST | Press release
IB SmartRouting℠ Routes Orders to the Best Available Price Between KRX and Nextrade Interactive Brokers (Nasdaq: IBKR), an automated global broker, today announced the launch of select Korean equities through Nextrade, South Korea's first Alternative Trading System (ATS). The addition of Nextrade builds on Interactive Brokers' earlier launch of the Korea Exchange (KRX), through which it became the first major US-based broker to provide global investors with direct access to Korean equities. Clients trading on Nextrade benefit from significantly extended trading hours and access to additional liquidity. Interactive Brokers has enabled IB SmartRouting℠ across both the Korea Exchange (KRX) and Nextrade, automatically routing orders to the venue offering the best price. This helps clients achieve best execution while providing greater flexibility and more opportunities to participate in one of Asia's most dynamic equity markets. Korea's equity market ranks among the top global exchanges by
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom