ALT TEX
ALT TEX, based in Toronto, Canada, develops biodegradable and carbon neutral fabrics from food waste, aiming to replace polyester in the fashion industry with a more sustainable and cost-effective option.
Company Overview
ALT TEX is a Toronto-based company operating in the industrials and climate sub-industry. The company developed the world's first biodegradable and carbon-neutral fabric engineered from food waste. ALT TEX aims to provide a sustainable, high-performance, and cost-competitive polyester replacement to fashion brands. The team consists of 10 members, and the company was launched as part of the Y Combinator S22 batch.
Innovative Sustainable Fabric
ALT TEX has developed a groundbreaking fabric prototype that is not only biodegradable and carbon-neutral but also 70% stronger than cotton. This fabric allows fashion brands to meet their sustainability targets and differentiate in the market without altering their current supply chains. One shirt made from this material can divert 1 kg of food waste from landfills, reduce carbon emissions by 9 kg, and prevent 4 g of micro-plastics from entering waterways.
Funding and Financials
ALT TEX has successfully raised $2.3 million in funding to support its mission of creating sustainable and cost-effective materials. The company has also secured $1 million in letters of intent (LOIs), reflecting strong market interest in its innovative fabric solutions. This financial backing highlights the industry and investor confidence in ALT TEX's vision and technology.
Sustainability Goals
ALT TEX focuses on providing sustainable options to the fashion industry, addressing significant environmental issues such as landfill food waste, carbon emissions, and micro-plastic pollution. Their fabric, projected to be half the price of other specialized sustainable alternatives, supports fashion brands in meeting their sustainability targets while maintaining their existing supply chains.
Y Combinator S22 Participation
ALT TEX was part of the Y Combinator S22 batch, joining a well-respected accelerator known for supporting innovative and high-potential startups. This participation has provided ALT TEX with invaluable mentorship, networking opportunities, and access to early-stage investors, aiding the company's development and market entry.
