In Germany, fashion brand Hugo Boss has partnered with HeiQ AeoniQ LLC to advance its cellulosic filament yarn. HeiQ AeoniQ LLC, a fully owned subsidiary of Swiss innovator HeiQ Plc, says the fiber can replace petroleum-based incumbents like polyester and nylon and binds carbon from the atmosphere.
Hugo Boss also made a $5 million equity investment HeiQ AeoniQ LLC with exclusive “partnership arrangements” of up to $4 million if certain performance milestones are met.
Hugo Boss aims to increase the proportion of sustainable materials within its BOSS and HUGO collections over the coming years and achieve climate neutrality “within its own area of responsibility” by 2030 and throughout its entire value chain by 2045.
“In light of the natural limitation of resources, we have to fundamentally rethink and reconsider the way we source materials,” Daniel Grieder, CEO of Hugo Boss, says in a press statement.
HeiQ AeoniQ LLC plans to build its first commercial facility in Central Europe in 2024, and is currently building a pilot facility for startup this year.