H&M: Stora Enso joins green textile joint venture

(CercleFinance.com) - Finnish forest company Stora Enso will join the joint venture between H&M and IKEA that develops new sustainable fibers at a lower cost, the companies said on Friday.


Stora Enso will add its industrial knowledge and expertise in the cellulose field to the company, called "TreeToTextile," they said in a statement.

Beyond H&M and IKEA, inventor and entrepreneur Lars Stigsson has also taken a stake in the venture. The four partners now have an equal stake in TreeToTextile, which was created in 2014.

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