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GTT announces $5.4 million in new financing

EcoNote | October 10, 2022 | By:

Green Theme Technologies Inc (GTT) based in Albuquerque, N.M., has announced that it has raised $5.4 million in its series B2 financing. The company, a producer of water-free and PFAS-free textile finishing, says that it will use the new capital to grow its water-free EMPEL™ performance technologies, which now include its durable water repellent (DWR) finish, stain protection, a new technology to keep footwear dry, and the ongoing joint development of water-free dye with its mill and brand partners. 

The company’s technology uniformly fuses PFAS-free chemistries to each fiber in a fabric, which the company says exceeds the performance of other competitive C0 and C6 products in the market. Martin Flora, vice president, business development, says, “Legislation like the recent California Bill (AB 1817) banning PFAS chemistries in textiles by 2025 are driving mills and brands to adopt the GTT EMPEL™ solution more rapidly.” 

The lead investor in the series B2 round, Cottonwood Technology Fund, focuses on disruptive science-based inventions. “Cottonwood invests in hard science and deep tech start-ups that are poised to disrupt large markets,” said David Blivin, managing partner with Cottonwood. “We see real opportunity with Green Theme to become the new global industry standard for high-performance, low-impact textile finishing, which is why we are proud to invest in them.”

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