Renewcell
(Source: Renewcell)
In October 2022, the "Commercial Operations Date" was achieved at the Renewcell 1 production plant of Renewcell AB, Stockholm/Sweden, a defined date in the company's loan agreements that relates to the point in time when the production line achieves functionality for commercial production. During the month of December 2022, Renewcell 1 produced approx. 650 tons of dissolving pulp.
During the period January-December 2022, net sales amounted to approx. SEK 12.6 million (approx. €1.13 million). Sales during 2022 consisted mainly of sales of Circulose pulp to fiber producers, which amounted to a total of approx. 801 tons. In December, the first delivery of Circulose dissolving pulp produced at Renewcell 1 in Sundsvall/Sweden took place to a customer.
Operating profit before depreciation and amortization (EBITDA) amounted to SEK -252 million (€-22.6 million). In 2021 EBITDA was SEK -120.6 million. The change is mainly explained by the fact that the company continues to build up its operations in connection with the establishment of Renewcell 1. Profit for the period was also affected by other income primarily relating to exchange rate gains but also to the sale of scrap metal arising from the demolition work of Renewcell 1 and other operating expenses for the period, which amounted to SEK -3.5 million and relate to exchange losses.
In November 2022, Renewcell and Eastman Chemical Co., Kingsport, TN/USA, signed a letter of intent for development of yarn from recycled textiles.
A large-scale and multi-year supply agreement was signed with Lenzing AG, Lenzing/Austria in December 2022 [LINK: https://www.textiletechnology.net/fibers/news/lenzingrenewcell-from-linear-to-circular-business-model-33253]:
Renewcell decided to reorganize operations at the demo plant in Kristinehamn/Sweden to solely focus on product and process development. Therefore, the company is reducing the number of employees in Kristinehamn by 20.
The ramp-up of Renewcell 1 towards 60,000 tons in capacity continues in the coming year. During January 2023 Renewcell 1 produced over 1,000 tons of dissolving pulp, of which about half was of prime quality (within specification for Circulose). About 190 tons were delivered to customers, the rest is in stock for later delivery.
During the period January-December 2022, net sales amounted to approx. SEK 12.6 million (approx. €1.13 million). Sales during 2022 consisted mainly of sales of Circulose pulp to fiber producers, which amounted to a total of approx. 801 tons. In December, the first delivery of Circulose dissolving pulp produced at Renewcell 1 in Sundsvall/Sweden took place to a customer.
Operating profit before depreciation and amortization (EBITDA) amounted to SEK -252 million (€-22.6 million). In 2021 EBITDA was SEK -120.6 million. The change is mainly explained by the fact that the company continues to build up its operations in connection with the establishment of Renewcell 1. Profit for the period was also affected by other income primarily relating to exchange rate gains but also to the sale of scrap metal arising from the demolition work of Renewcell 1 and other operating expenses for the period, which amounted to SEK -3.5 million and relate to exchange losses.
In November 2022, Renewcell and Eastman Chemical Co., Kingsport, TN/USA, signed a letter of intent for development of yarn from recycled textiles.
A large-scale and multi-year supply agreement was signed with Lenzing AG, Lenzing/Austria in December 2022 [LINK: https://www.textiletechnology.net/fibers/news/lenzingrenewcell-from-linear-to-circular-business-model-33253]:
Renewcell decided to reorganize operations at the demo plant in Kristinehamn/Sweden to solely focus on product and process development. Therefore, the company is reducing the number of employees in Kristinehamn by 20.
The ramp-up of Renewcell 1 towards 60,000 tons in capacity continues in the coming year. During January 2023 Renewcell 1 produced over 1,000 tons of dissolving pulp, of which about half was of prime quality (within specification for Circulose). About 190 tons were delivered to customers, the rest is in stock for later delivery.
Circulose = registered trademark
