The ocean is a resource that has been overlooked in the fashion industry. Too often it is a place used to dispose of unwanted things. We see the ocean as a massive opportunity. Kelp grows in coastal waters all over the world at an incredible speed, translating into millions of kilos grown annually. Because it grows so fast, it also absorbs CO2 up to five times faster than land plants. It’s accessible, it’s abundant, and it doesn’t require any land to grow. Pretty cool huh?
AlgiKnit, a world leader in biomaterials and maker of eco-conscious yarns derived from mostly seaweed is located in North Carolina, which had its launch in the early period of this year 2022. During the past four years, AlgiKnit has spent a significant amount of time studying and developing brand new technologies to produce yarns on a commercial scale to meet the growing demand for carbon-neutral, toxic-free textiles. With the technology in place, the facility houses the company's R&D, manufacturing, and business development teams under one roof and allows the company to scale quickly to help the global fashion industry decrease its carbon emissions by half. To mark this milestone, AlgiKnit released a first look at its kelp-based yarn.
According to a 2021 report from the World Economic Forum identified fashion, and its supply chain, as the planet's third largest polluter—around two-thirds of a garment's carbon footprint comes from the production of synthetic fibers such as polyester and nylon. These non-renewable fibers are primarily derived from fossil fuels—namely crude oil. In fact, roughly 342 million barrels of oil are used each year in the production of synthetic fibers.
AlgiKnit is transforming the fashion ecosystem by creating yarns derived mostly from kelp, one of the most renewable and regenerative organisms on the planet. The company's yarns are built with function and accessibility in mind to provide a scalable and sustainable alternative for designers, manufacturers and consumers looking for materials with a significantly lower environmental footprint than conventional textiles. AlgiKnit's versatile yarns can be used across the industry to create footwear, accessories, and garments.
North Carolina's Research Triangle area is becoming a hub for big tech and life sciences, and we look forward to collaborating with other companies focused on scientific innovation and disruption," said Aleksandra Gosiewski, co-founder and COO of AlgiKnit. "We're also excited for the opportunity to tap into the deep and diverse pool of talent and knowledge in the area to strengthen our scientific and engineering divisions."
AlgiKnit co-founder and CEO, Tessa Callaghan adds, "Our expansion in North Carolina marks an important next step for AlgiKnit's growth, and will help foster a carbon-neutral, toxin-free future that delivers value for our partners and the planet, all the while creating a safe, diverse, and dynamic environment for our team."
In March, AlgiKnit raised $2.1 million to help scale the company’s bio-yarns, building on previous investments from SOSV and Horizon Ventures. Globally, the ethical fashion market is expected to be worth $8.25 billion by 2023.
Discover more on the company's website: https://www.algiknit.com/