STOCKHOLM, SE / ACCESSWIRE / November 01, 2023 / Re:NewCell AB (publ) (FRA:6QP)(STO:RENEW) For the period 1 October to 31 October, Renewcell 1 produced 1,161 metric tons of prime quality dissolving pulp. Total production output at Renewcell 1 was 2,043 metric tons and 129 metric tonnes were delivered to customers, of which 129 metric tonnes directly to fiber producers and 0 metric tonnes to the trading house*.
Due to the lower sales volumes in October the monthly production volume was lower than the production capacity, in order not to affect cash flow negatively. It is expected that the production volume for November will also be below the production capacity, also due to lower sales volumes.
* The trading house acts both as a customer to the company and as an agent for the volumes sold directly to fiber producers.
Contact
Toby Lawton, CFO
[email protected]
About Renewcell
Re:NewCell AB (publ) (" Renewcell ") developed a patented process that enables the recycling of cellulosic textile waste, such as worn-out cotton clothes and production scraps, transforming it into a pristine new material called CIRCULOSE®. Founded by innovators from Stockholm's KTH Royal Institute of Technology in 2012, the award-winning, Sweden-based sustaintech company's vision is to make fashion circular.
Through its patented process, Renewcell is able to recycle cellulosic textile waste, such as worn-out cotton clothes and production scraps, transforming it into a pristine new material called CIRCULOSE®. Fast Company named Renewcell one of the World's Most Innovative Companies in 2021, as well as World Changing Idea in 2023. CIRCULOSE® was also included on TIME Magazine's list of the 100 Best Inventions 2020.
Renewcell is a publicly listed company with shares traded on Nasdaq First North Premier Growth Market with the ticker name RENEW and ISIN code SE0014960431. FNCA Sweden AB is Certified Adviser.
Attachments
Renewcell's production development in October 2023
SOURCE: Re:NewCell AB (publ)