EANS-News: Lenzing AG / Two champions of post-consumer textile recycling joining forces CNE

6/2, 11:00 AM (Source: euro adhoc)
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Together, Lenzing and Södra take a giant leap further towards closing the loop
from fiber to fiber in fashion.

Joint Ventures/Cooperation/Collaboration

Lenzing/Växjö - Lenzing, a leading global supplier of wood-based specialty
fibers, and Södra, a world-class producer of pulp, signed a cooperation
agreement today, June 02, 2021, with the clear objective of making a decisive
contribution to addressing the enormous textile waste challenges of the industry
and the society. The cooperation involves the transfer of knowledge between the
two companies, which have been proactively driving the circular economy issue
for many years, and a joint process development followed by a capacity expansion
for pulp from post-consumer waste. The goal is to process 25,000 tons of textile
waste per year by 2025.

The fashion industry is one of the major polluting industries in the world.
Millions of tons of textile waste are created each and every year, most of it
ends up in landfills. In the spirit of the circular economy transition, both
Lenzing and Södra have independently addressed the issue and developed
appropriate solution options so far. Both companies are experts in their
respective fields with many years of large-scale industrial experience.

Together, they give textile recycling a huge boost by developing technologies
further towards a broader, industrial-scale use of post-consumer cellulosic
waste. The jointly developed pulp OnceMore® will subsequently also be used as a
raw material for the production of Lenzing's TENCEL(TM) x REFIBRA(TM) branded
specialty fibers.

"The cooperation with Södra is a major milestone towards achieving our ambitious
climate and sustainability goals. We are proud to be able to go this way with a
competent partner. One company alone cannot solve the pressing issue of textile
waste. It is proactive partnerships like this that enable us to move forward and
bring about real systemic change", says Christian Skilich, Member of the
Managing Board of Lenzing.

"With OnceMore® pulp, Södra has created a globally unique solution to base
textile on a recycled source. By joining forces with Lenzing, we now taking the
next step on our journey and will bring world-class recycling to the textile
value chain. Through a new investment, we will also ten-fold our production
capacity of OnceMore® pulp during 2022 and have a higher level of recycled
textile content. These are important steps towards our long-term target to
create a circular textile industry", says Lotta Lyrå, President and CEO of
Södra.

"In this turn around decade for our planet, making forest-based fabrics from
recycled textiles is critical to protect biodiversity, alleviate pressure on
forests and address the growing climate crisis. Canopy is excited to see these
two major producers join forces to bring vital Next Generation Solutions to the
fashion industry. We look forward to seeing greater commercial volumes come to
market", says Nicole Rycroft, Canopy's Founder and Executive Director.

Zwtl.: Two companies with bold visions and large-scale solutions for the reuse
of waste

In line with its circular economy vision, "We give waste a new life. Every day",
Lenzing drives the industry towards a fully-fledged circular economy by striving
to give waste a new life in all aspects of its core business and by co-
developing circular solutions with potential partners in and outside the current
value chain. Lenzing has extensive knowledge in developing cutting-edge
innovations in recycling such as its REFIBRA(TM) and Eco Cycle technologies.
Besides virgin dissolving wood pulp, these technologies allow the processing of
a substantial proportion of recycled materials based on pre-consumer cottons
scraps and post-consumer garments.

OnceMore® by Södra is the world's first process for industrial-scale recycling
of textile waste of blended fibers, and it's the forest who makes that possible.
The process combines wood cellulose with textile waste to create a pure, high-
quality dissolving pulp which can be used to produce new clothing and other
textile products. During 2022, a new investment will ten-fold the production
capacity of OnceMore® pulp and reach a higher level of recycled textile content.
The goal for 2025 is to process 25,000 tons of textile and offer a OnceMore®
pulp based on our wood material and 50 percent recycled textile material.

Photo download [https://mediadb.lenzing.com/pinaccess/
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Further inquiry note:
Dominic Köfner
Vice President Corporate Communications & Public Affairs
Lenzing AG
Phone: +43 7672 701 2743
E-mail: media@lenzing.com

end of announcement                         euro adhoc
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issuer:       Lenzing AG

A-4860 Lenzing
phone:        +43 7672-701-0
FAX:          +43 7672-96301
mail:         office@lenzing.com
WWW:          http://www.lenzing.com
ISIN:         AT0000644505
indexes:      WBI, ATX
stockmarkets: Wien
language:     English

EAX0001    2021-06-02/11:00

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