Investor Insight: Rewin has a technolog with great potential.
The recycling industry is in focus, with increasing demands from policymakers, businesses, and consumers to extend the lifespan of products and materials. Rewin is at the forefront of this movement, continuing to strengthen its efforts to scale up its unique polyester recycling technology, with a particular focus on textile polyester.
A key figure in Rewin's operations is Henrik Selstam, serving as both a board member as well as a substantial investor in the company. Bringing extensive experience as the Chief Technology Officer at Wasterfront, Selstam contributes insights gained from various tech-focused industries, including renewable energy and energy supply chains.
− I have extensive experience in General Energy, Mergers and Acquisitions, as well as hands-on-business development”, Selstam states. “It’s crucial for me to play an active role beyond that of a passive investor, which is why I’m an active part of Rewin’s board.
Selstam’s involvement with Rewin isn’t his first venture into backing pioneering recycling innovations. Previously involved in ventures such as Quantafuel, focusing on chemical recycling of plastics, and tire recycling companies, Selstam isn't afraid to tackle the challenging or unexplored. For Rewin, venturing into a market that is still evolving, Selstam sees tremendous potential.
− The potential in textile and PET recycling is enormous. Today, recycled PET bottles are used mainly in textile production, but that puts us in a corner as it downcycles the material. As a society, we need efficient textile-to-textile recycling, and Rewin has a technology with great potential.
The need for textile recycling is significant worldwide, with the EU alone discarding nearly 15 kilograms of textiles per person per year on average. With such large volumes, the need for new technology is inevitable.
− I am passionate about adapting technology to waste problems and creating circular flows. If technology is given more space, there are more solutions than problems. Rewin is a clear example of this; I envision that our technology will be leading and able to pave the way for sustainable clothing management.
Ultimately, recycling is just one part of a larger picture. Achieving sustainable and circular textile management, whether on a global scale or within Europe, is crucial to take many parallel actions. Henrik Selstam highlights, for example, the need for a classification of textiles in a similar way as seen in other industries today, where carbon footprint is clearly presented.
− Generally, there's a need for increased awareness of how we manage our resources, based on relevant and research-based facts, so we don't find ourselves focusing on minor solutions to major problems.