Varna,
Bulgaria
Why is this important?
The textile industry is one of the most polluting industries in the world, consuming a tremendous amount of resources and water, and producing massive amounts of waste. Today in Europe, only 46% of textile waste is collected for reuse and recycling. Out of this 46%, less than 15% is reused in Europe or recycled in a proper way.
Why does this project need financial support?
Textile circular economy projects are very limited because the cost and the complexity of the value chain are huge barriers. Thanks to carbon credits, the project is developing a new facility and aims to double its capacity. Significant investment is needed to enhance sorting operations, repair, alter, and clean garments for reuse. Automation and digital enhancements in sorting processes and investments in handling and transportation technologies are planned.
What is unique with this project?
TexCycle employs more than 65% women in their activities. TexCycle was also awarded "Company of the Year 2023" and "Investor in the Environment Award 2020" by the Bulgarian Business Leaders Forum (BBLF).