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Virginia Startup Circ Pioneers Circular Fashion With Breakthrough Recycling Technology

The Environmental Toll Of Fast Fashion

Fast fashion inflicts significant environmental damage, consuming vast amounts of water and generating high carbon emissions along with excessive pollution. The industry also contributes to a surge in microplastic contamination and textile waste, compelling brands and consumers alike to explore sustainable alternatives such as thrifting.

Innovative Technology Driving Textile Recycling

Despite fast fashion’s impact, less than 1% of clothing finds its way back into production, primarily because modern fabrics are complex blends that require complete fiber separation to be remade. Circ, a Virginia-based startup founded in 2011, is tackling this challenge head-on with its advanced hydrothermal technology. This process disassembles polycotton blends—accounting for 77% of the global textile market—by breaking them down into their original polyester and cotton components. As CEO Peter Majeranowski explains, “It’s a chemical process, very much like unbaking a cake, where we break down the polyester to its building blocks, separate it from the cotton, and put them back into the very beginning of the supply chain to be remade into new clothes.”

Strategic Partnerships And Industry Impact

Companies such as Allbirds, Zara, and H&M have already integrated Circ-recycled textiles into select product lines, despite a slight price premium. Esteemed brands known for their commitment to sustainability, including Patagonia—which is also an investor in Circ—recognize the importance of scaling innovative recycling processes to drive systemic change.

Scaling Sustainable Practices Globally

Matthew Dwyer, Vice President of Global Product Footprint at Patagonia, underscores that the higher cost of recycled materials is a necessary investment in breakthrough technology that can ultimately reduce environmental impact at scale. With $100 million raised from notable investors such as Patagonia, Temasek, Taranis, Marubeni, Inditex, and Breakthrough Energy Ventures, Circ is well-positioned to transform the textile recycling landscape. Headquartered in Danville, Virginia—once home to the largest textile mill in the U.S.—the company is expanding its reach with its first industrial-scale textile-to-textile recycling plant in France.

A New Era For Circular Fashion

Circ’s pioneering approach signals a significant step toward a circular economy in fashion, where sustainability, innovation, and profitability converge to reshape an industry in dire need of reform. As traditional recycling methods have fallen short, Circ’s model offers a promising pathway for transforming waste into a valuable resource, ensuring that the industry not only addresses its environmental footprint but also sets a precedent for future sustainability initiatives.

Eurobank Wins Two Euromoney Awards Following Cyprus Merger

Eurobank has been named Cyprus’ Best Bank for 2026 by Euromoney, while also receiving the award for Best Bank for Large Corporates at the publication’s latest Awards for Excellence.

Merger Marks A Milestone

The awards recognise the bank’s performance during 2025, a year marked by the completion of the legal merger between Hellenic Bank and Eurobank Cyprus. The transaction created Eurobank Limited, which the group says is now Cyprus’ largest banking and insurance organisation, with assets exceeding €28 billion.

Euromoney’s Awards for Excellence evaluate banks’ performance over the previous calendar year, with this edition covering January 1 to December 31, 2025.

Lending, Customers And Digital Growth

Eurobank said its business lending portfolio expanded by around 17 per cent during 2025, while its customer base grew to more than 710,000 retail clients and 11,500 business customers.

The bank also continued its digital expansion, saying more than 96 per cent of transactions are now completed through digital channels, and most financing applications are submitted via its mobile app.

Expanding International Presence

Eurobank also highlighted the opening of its first representative office in India, describing the move as a step toward strengthening business links between Cyprus and India while supporting Cyprus’ role as a gateway to the European Union for Indian businesses and investors.

According to the bank, Euromoney recognised not only the successful completion of the merger but also its lending growth, digital transformation and contribution to Cyprus’ position as an international business and investment hub.

CEO On The Awards

“The Euromoney awards confirm Eurobank’s strong momentum and the successful implementation of our group’s strategy in Cyprus,” Chief Executive Michalis Louis said.

He said the merger strengthened the bank’s ability to support households, businesses and the wider economy, while highlighting continued investment in digital services and the opening of the representative office in India as key milestones during the year.

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