E-Leather raises £70m to supply more Flyleather to Nike
14/02/2018
The material, made using tannery scraps reconstituted with synthetic materials, has been widely condemned by the leather industry.
E-leather says the manufacturing process uses 90% less water and has an 80% lower carbon footprint than traditional leather manufacturing.
The Global Leather Coordinating Committee said it remains unconvinced of these claims in a letter it sent to Nike in January.
The funding will be used to invest in a new facility to allow E-Leather’s production to be “significantly increased” from 2019, in part to enable “scaling the use of Nike Flyleather in footwear and apparel”.
Patrick Sheehan, managing partner at ETF Partners, which managed the funding round, said: “E-Leather’s recent move into consumer-driven markets through its partnership with Nike demonstrates the breadth of the opportunity for this sustainable, high performance material.”
Image: Artist’s impression of E-leather’s new facility
Share this story:
