HeiQ AeoniQ Receives Investment From MAS Holdings

Switzerland
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HeiQ AeoniQ
MAS Holdings and HeiQ administrators celebrate the deal that makes HeiQ AeoniQ™ stronger and scaled-up. (From left to right: Nipuna Gunaratne – Sustainable Product Lead, MAS Holdings; Rajiv Dharmendra – Chief Executive Officer, MAS Intimates; Nemanthie Kooragamage – Director – Group Sustainable Business, MAS Holdings; Mahesh Amalean – Co-Founder & Chairman, MAS Holdings; Carlo Cen-tonze – Co-Founder & CEO, HeiQ Group; Musa Raibin – VP South Asia Brand Force, HeiQ Group; Ran-il Vitarana – Chief Innovation Officer, MAS Holdings)

HeiQ AeoniQ, a Zürich, Switzerland-based company which specializes in materials innovation, received an investment from MAS Holdings.

The amount of the deal was undisclosed.

The company intends to use the funds to expand operations and its business reach.

HeiQ AeoniQ is HeiQ’s key initiative for the textile industry that aims to create a climate-positive continuous cellulosic filament yarn through a proprietary manufacturing process, reproducing the properties of polyester and nylon yarns for the first time in a cellulosic, durable, biodegradable, and endlessly recyclable fiber. HeiQ has established HeiQ AeoniQ as a stand-alone company, allowing its business partners to participate from the development stage and be part of the team pioneering this initiative to reverse the carbon footprint in the textile industry.

With this investment, MAS Holdings becomes the first manufacturer to partner with HeiQ AeoniQ™ in their efforts to provide a sustainable alternative to polyester and nylon.

FinSMEs

10/07/2023