Tattarang has directed $26.8 million into Natural Fiber Welding, a plastic free fabric enterprise that has partnered with the likes of Alexander McQueen, Ralph Lauren, Pangaia and BMW.
The cornerstone investment in Natural Fiber Welding (NFW) is hoped to scale up the company’s low-carbon, plastic free textiles line across the fashion and automotive industry.
Based in Illinois and founded in 2015, NFW has found success in developing CLARUS, its all-natural textiles line and MIRUM, a zero plastic leather alternative.
Its pursuit for more sustainable materials has piqued the interests of several global brands along the way, including Alexander McQueen, Ralph Lauren, Pangaia, Bellroy, H&M, Allbirds and Camper.
Most recently, NFM entered a strategic partnership with BMW to develop a range of high-performance, petrochemical-free materials for the automotive industry.
The $26.8 million (US$20 million) investment revealed today was made via Tattarang, Andrew Forrest’s private investment business, which also owns R.M Williams.
Tattarang’s chief investment officer John Hartman said NFM’s plant-based leather alternative could lend itself to use in the well-known Australian footwear and clothing brand down the track.
“Leather is of course deeply entwined in the DNA of R.M.Williams, and we have no plan to change that, however we know consumers are increasingly seeking high-performance, plastic-free leather alternatives,” Mr Hartman said.
“NFW could provide an opportunity for us to explore that further with R.M.Williams.”
The move also ties in with broader efforts from the the Forrests philanthropic arm, Minderoo Foundation, to eliminate plastic waste.
“NFW will provide valuable insights on this journey,” Mr Hartman added.
NFW chief executive Luke Haverhals said the capital would help step up production.
“Made possible with our wonderful group of investors, such as Tattarang, brand partners and employees, together we are bringing truly circular solutions to the mainstream,” Mr Haverhals said.
