Industry news

2 August 2018

Over half of UK businesses believe Brexit will trigger a drop in revenue in 2019 according to new research by MHR Analytics, the specialist provider of business intelligence and analytics solutions.

The findings are contained in a new report published today entitled ‘Business Insight: The Data Surge’ which contains detailed polling of 200 senior decision-makers in large and medium sized UK businesses about their investment plans.

When asked which factor was most likely to trigger a drop in revenue for 2019, the majority believed it would be Brexit at 57 per cent, followed by reduced customer spending at 22 per cent. Interestingly, 10 per cent of those polled thought the recently implemented General Data Protection Regulation (GDPR) would have an impact on revenue. Only seven per cent of respondents said no factor would trigger a drop in revenue.

The survey found that businesses were boosting investment in key areas to tackle the revenue drop, with IT coming top by a significant margin, suggesting tech spend is of huge importance to companies. 59 per cent of businesses will increase spend on IT in 2019, 48 per cent believe marketing will also see an increase and 46 per cent are planning to boost investment in sales.

When asked about the importance of data, 96 per cent of business chiefs said they understood the importance of data for their company’s future. However, one in 10 businesses are yet to implement big data strategies and less than a third regularly conduct big data projects.

Nick Felton, SVP at MHR Analytics comments: “It’s clear that businesses are braced for significant turbulence next year and are planning major investment in key areas to power through an anticipated drop in revenues. Despite these fears, companies are adopting a combative approach to this problem, with departments such as IT, marketing and sales all set for a cash injection.”

“With unpredictable market conditions, data management and analytics are critical for helping organisations deliver significant cost savings by enabling accurate decision-making. Despite a potential revenue dip, companies are still planning major investments, of which data management is a good choice in uncertain times.”

“Nearly three-quarters (72 per cent) of the decision makers we surveyed believe their company’s response to big data has been positive, yet only four per cent recognise that managing big data will lead to less administration. Early analysis of these results suggests that a sharper focus on data management and analytics could be advantageous to companies in this constantly changing economic climate.”

For more information contact MHRAnalytics@centropypr.com or call 0203 959 9121

Public sector outsourcing spend increased sharply in the first six months of 2018 despite a backdrop of Brexit uncertainty, according to the Arvato UK Outsourcing Index.

Overall, £2.61 billion of outsourcing deals were signed between January and June, of which £998 million were government contracts. The total value of public sector spending was up 39 per cent year-on-year, as central departments and councils focused on procuring agreements for IT and technology services.

The research, compiled by business outsourcing partner Arvato and industry analyst NelsonHall, found that IT outsourcing (ITO) contracts accounted for more than three quarters (79 per cent) of public sector spend between January and June, with cloud computing, application management and multi-scope infrastructure the most frequently procured services.

Central departments were the key drivers of government activity over the period, accounting for £921 million of overall public sector spend, up 27 per cent (from £724 million) year-on-year.

Local government buyers were less active in the period, however, with contracts worth £77 million signed between January and June, down from £136 million in H1 2017.

Overall, public sector deal volume increased by almost a fifth year-on-year (19 per cent), according to the research.

The findings show that despite the rise in government spending, the total value of UK contracts signed in H1 2018 (£2.61 billion) fell by a half on the same period last year. The market softening was triggered by a slowdown in the private sector, which saw deals worth £1.61 billion agreed between January and June, down from £4.53 billion in the first half of 2017.

Debra Maxwell, CEO, CRM Solutions UK & Ireland, Arvato, said:

“The public sector market is showing signs of recovery as government organisations take the brakes off the tendering process. More than two thirds (68 per cent) of contracts signed across the sector this year represent new relationships, showing outsourcing remains a key strategy for delivering new technologies, such as cyber security and automation, to drive efficiency and service improvements.

“A subdued private sector comes as no surprise given the lingering uncertainty surrounding the Brexit process and GDPR implementation, which is causing many businesses to pause and review their margins and contingency plans.”

Financial services firms largest spenders in outsourcing market

Businesses across financial services spent more on outsourcing contracts in the first half of 2018 than any other UK sector, with firms agreeing deals worth £933 million.

Despite the overall fall in private sector spending, financial services firms were responsible for the highest proportion of outsourcing procurement in the UK market, representing 36 per cent of total deal value between January and June.

The findings show the total value of Business Process Outsourcing (BPO) contracts signed across all sectors was up 66 per cent year-on-year to £1.48 billion, as organisations partnered with third parties to deliver customer services, HR and payment processing.

Customer services was the most frequently procured BPO service line, with eight deals worth £203 million signed over the period. Three quarters of these contracts involved integrating traditional and digital channels, with half incorporating webchat support.

The Arvato UK Outsourcing Index is compiled by leading BPO and IT outsourcing research and analysis firm NelsonHall, in partnership with Arvato UK. The research is based on an analysis of outsourcing contracts procured in the UK market between January and June 2018.

Chris Sood-Nicholls, managing director and head of global services at Lloyds Bank Commercial Banking, said:

“While events of earlier this year will have made both public and private sector organisations draw breath and review the financial stability of counterparties, these figures show that that process hasn’t prevented central government in particular from committing to new contracts.

“In fact, despite the uncertainty, the economic backdrop is relatively robust and both central government and financial services businesses in particular are knuckling down and getting on with the job in hand.

“The good news is that organisations in a variety of sectors still see outsourcing both as a long-term strategic tool, and as a tactical means of delivering much-needed cost savings. Where that continues, these figures suggest there is little to fear during the second half of this year at least.”

About Arvato UK & Ireland

Arvato is a trusted global business outsourcing partner to the private and public sectors in the UK and Ireland. With more than 50 years of experience in outsourcing, Arvato combines expertise in business process outsourcing (BPO), financial solutions, customer relationship management, supply chain management, and public sector and citizen services to deliver innovative, individual solutions. Arvato has long-term partnerships with some of the most respected companies in the UK and globally, as well as innovative public sector clients. Internationally, Arvato is a leading global BPO provider with over 70,000 people employed across almost 40 countries worldwide. Arvato has annual revenues of €4.8bn contributing over a quarter of the Bertelsmann group annual revenues of over €17.1bn.

For more information, visit: www.arvato.co.uk.

Blockchain has the potential to have a huge impact on procurement and sourcing. Currently, it’s early days, a bit like the initial stages of the dotcom boom – lots of companies are launching and some are failing. Many still associate blockchain exclusively with cryptocurrency, and admittedly there are limited proven use-cases. At a time when so many emerging technologies and practices are vying for attention, it requires a leap of faith to give blockchain focus. How does blockchain compete with AI, RPA, Big Data, virtual assistants and all the other trends that are driving industry transformation?

Here are the three main reasons that I am backing blockchain as the next big disruptor for procurement:

1) It will unlock the next wave of efficiencies

It will unlock the next wave of efficiencies by getting rid of waste and duplication across customers and their supplier ecosystems. The status quo, where customers and suppliers maintain local records of every transaction, means that there is significant duplication where different players process, validate and store information about the same event.

A move to distributed ledger technology such as blockchain allows for a single, immutable, secure record of every transaction to be maintained, eliminating the need for all this local work within the four walls of each enterprise. Maersk and IBM are predicting that their new blockchain platform will save the global shipping industry billions of dollars a year.

2) It will enable greater trust

It will enable greater trust, despite confusingly being called a ‘trustless’ technology. What ‘trustless’ means is that records are maintained across an entire network as opposed to being verified by a single party such as the organisation that initiated the transaction, or a central authority that might be vulnerable to fraud, infiltration or attack.

In addition, once a transaction is added to the blockchain it can never be changed, so this allows for superior auditability and greater confidence. For certain types of product where provenance is important (food, luxury goods and similar) this allows companies to make a better consumer offer. For example, Everledger’s Diamond Time-Lapse product can validate the provenance of diamonds, ensuring that they are real, not stolen and do not come from mines with a poor human rights record.

3) It will automate fulfilment of contractual obligation

It will automate fulfilment of contractual obligation without the need for separate automation technology. ‘Smart contracts’ can be set up so that when conditions are met, payments or other value transfer can happen automatically. For example, discounting structures can be automatically applied without the need for extra administrative work or specialist billing systems.

Managing supply chains in today’s connected environment is extremely complex. Blockchain provides solutions to questions of efficiency, transparency, and security, and has the potential to transform the supply chain and logistics industry. Bring it on.

On Tuesday 24th July, the UK Committee of Public Accounts produced a report underlining the controversy surrounding contracting out to the private sector. The report criticises the emergence of a small group of large companies who are expert at winning contracts but lack the expertise to deliver value for the sector in which they are bidding. The report recommends the Cabinet Office take a more active approach to examining the market to better understand the intentions and motivations of bidding companies.

Further concerns addressed in the report are the ambiguity of responsibility between Government and Private sector as well as the impact of poor contracting to the end user. The report summary touches upon this issue:

“Government contracts involve vast sums of public money and have significant impacts on the lives of citizens. The Government cannot divest itself of responsibility when it contracts out the delivery of public services. Many of the companies that we have looked at rely on the public purse for a significant proportion of their revenue. Those companies need to be accountable to Parliament and taxpayers once they decide to take public money.”

You can read the full report, including the recommendations from the committee here

25 July 2018

- Permanent placements increase by 9%

- Vacancies for permanent professionals dip 4%

- Demand for finance interims up 21%

- Permanent placements within IT up 23%

Permanent hiring increases

Professional recruitment firms reported that the number of candidates securing permanent roles in June 2018 increased by 9% year-on-year, according to new survey data from the Association of Professional Staffing Companies (APSCo).

APSCo’s research, which focuses on professional recruitment, reveals notable variations between the trade association’s core sector groups in terms of hiring activity. While permanent placements within IT and financial services increased by 23% and 13% respectively over the 12 month period, the number of marketing professionals securing permanent roles during this time slipped by 11%.

Vacancies for permanent staff, meanwhile, remained largely stable across the board, dipping by just 4% in June 2018.

Financial services remains strong

The number of finance professionals securing permanent roles increased by 13% in the year to June 2018, while the number of contract professionals out on assignment in the sector rose 1% over the same period.

Vacancies for permanent finance professionals during this time grew by 4% while demand for contractors within financial services rose 21%, indicating ongoing strength across the market.

This confidence comes following the announcement that Barclay’s plans to create 2,500 jobs in Glasgow when it moves its technology, functions and operations teams to a new hub on the bank of the Clyde in 2021. This commitment is the latest sign of strength for Scotland’s financial services sector, which is now outstripping London in terms of growth.

IT market goes perm

While the number of IT contractors out on assignment plummeted by 34% year-on-year in June 2018, the number of professionals securing permanent roles in the sector increased by 23% during the same period.

Demand for permanent professionals also rose by 7% in the 12 months to June, while vacancies for IT contractors flat-lined – falling by 0.1% year-on-year.

This shift in focus can almost certainly be attributed to recent changes to off-payroll working in the public sector, and ongoing uncertainty around if and when IR35 reforms will be extended to the private sector. A recent survey conducted by IPSE and the CIPD found that 71 per cent of public sector hiring managers were struggling to hold on to their contractors as a result of the changes.

Contract market slow

Aside from ongoing demand for finance interims, overall contract vacancies dipped by 8% year-on-year in June 2018. The overall number of contractors out on assignment, meanwhile, dipped by 17% during the same period.

This decrease can largely be attributed to a significant 34% year-on-year fall in IT professionals working on a contract basis during this time. However, the number of marketing and engineering professionals on assignment also dipped in June 2018, falling by 17% and 9% respectively.

Average salaries stable

APSCo’s figures also reveal that median salaries across all professional sectors increased by 1% year-on-year. This figure is characterised by notable fluctuations in terms of sector, with insurance, for example, recording an uplift of 4.4% while banking salaries dipped by 5.2%.

Ann Swain, Chief Executive of APSCo comments:

“Considering the level of uncertainty that the UK continues to contend with, the current strength of the professional jobs market is a positive indicator of wider resilience. Economic growth is better than expected, overall employment levels are at a record high and the signs are now positive that the AI revolution is creating more jobs than it is destroying.

“However, there is no doubt that the present picture is far from stable. While financial services, for example, is strong for now, future growth will likely depend on whether the UK successfully negotiates advanced equivalence post-Brexit. Furthermore, with the current consultation on off-payroll working in the private sector still open, we are yet to see how the contractor market will react to any incoming changes.”

John Nurthen, Staffing Industry Analysts’ Executive Director of Global Research commented:

“The decline in professional vacancies has continued in June, though the drop in permanent vacancies is quite marginal compared to the decline in temporary / contractor roles indicating that the UK job market is actually in a reasonable condition. And confidence, however, will likely prove fragile if the government is unable to prevent Brexit negotiations becoming more fraught during the second half of the year.”

25 July 2018

Organisations must harness the power of talent analytics to build truly efficient workforces – or risk falling behind competitors which do. That is the advice from global talent acquisition and management specialist, Alexander Mann Solutions.

The call comes in response to a report from the Chartered Institute of Personnel and Development (CIPD), People analytics: driving business performance with people data, which highlights a strong and demonstrable link between ‘people analytics culture’ and overall business performance. The paper finds that 65% of HR leaders who report working in an organisation with a ‘strong people analytics culture’ believe that their business performance is strong when compared with competitors, but just 32% of those in ‘weak analytics cultures’ say the same.

The report also highlights the areas where respondents believe people analytics can be used to address key business challenges. For example, two thirds (66%) trust that this type of data can be used to attract and retain high performing individuals, while three quarters (75%) see people analytics being useful in understanding workforce performance and productivity.

In response to the findings, Erica Titchener, Global Head of Technology and Operations Consulting at Alexander Mann Solutions, comments:

“We have long promoted the benefits of tapping into talent analytics during the talent acquisition process and beyond to inform both immediate and longer-term workforce planning strategies. As such, reports that HR’s visibility of data correlates directly with improved business outcomes is unsurprising.

“Workforce planning is absolutely integral to wider organisational strategy and now every HR team – in theory – has access to huge rafts of valuable data. The benefits of harnessing this information to implement total workforce planning strategies, in order to aid organisational efficiency, should not be underestimated. By digitally tracking the availability of skills, both within the business and externally in the market, leaders can map where permanent workforces can be deployed most effectively, the places where artificial intelligence can pick up process-driven tasks which zap productivity, identify the skills they are lacking, and determine if these can or should be acquired on a full-time, flexible or contingent basis.

“By working in this way, organisations can ensure that teams are performing to maximum efficiency, without skills gaps – or a skills surplus. Ultimately, however a workforce is structured, it should be built to maximise output, reduce costs and increase productivity – and also be adaptable to future needs. HR leaders who ignore the valuable data at their fingertips are side-lining the resource that makes this strategy possible.”

24 July 2018

LONDON, UK – July 24, 2018 – Liquidware, the leading third-party provider of platform-agnostic end-user computing solutions, today announced that its FlexApp application layering software has nosed out Citrix’s App Layering and VMware’s App Volumes products to take top billing in WhatMatrix’s community-curated independent analysis of application layering solutions.

“We compared these three products against some 140 key criteria in our rigorous evaluation of Application Layering software,” said Rory Monaghan, lead consultant at WhatMatrix. “Liquidware FlexApp emerged as community number one – with the richest feature set of all Application Layering products on the market.”

WhatMatrix is different from other product comparison endeavors in that its community evaluations are all based on in-depth technical analysis, reflected in comparisons of 100-plus evaluation points, and untainted by vendor submission or pay-to-play models. Comparisons are moreover managed by named, independent community experts and validated by open community curation.

Significantly, Liquidware remains the last independent platform-agnostic player in this market segment that is dominated by giants – a fact that is of particular importance to enterprises aiming to avoid vendor or platform lock-in when it comes to their business-critical software. The company’s FlexApp application layering software delivers applications instantly to any Windows desktop environment, regardless and independently of the operating system version in use. The solution is optimised for Citrix and VMware desktop platforms, for Microsoft RDS/RDmi and physical desktops, as well as Amazon WorkSpaces, and desktops running on Amazon, Google and Microsoft Azure cloud platforms.

Among the criteria measured by WhatMatrix, FlexApp was the sole solution to: offer per named user licensing; allow users to layer their own apps; offer click-to-layer; allow apps to upgrade while in use; provide data store support of MongoDB; offer both Azure and AWS native features; centrally manage file type associations; and hide layers from other users on shared machines.

“This accolade really means a great deal to us. With only three products to be measured in this comparison, it was David versus the Goliaths,” said Jason E. Smith, VP of Product Marketing of Liquidware. “What an honour to be measured against industry-leading companies, such as VMware and Citrix, and whose desktops FlexApp supports. To be number one in this category is not only gratifying but validates the tremendous functionality of FlexApp.”

Enterprises drove 15 percent growth of Supply Chain Management (SCM) Business Process Outsourcing (BPO) in 2017 as they sought to reduce high operating costs, address evolving customer demands, and manage risk and compliance. The solution to much of these problems, according to Everest Group, is digitalization.

“Enterprises can struggle with broken supply chains for many different reasons, not the least of which are siloed operations, inefficient processes and lack of visibility,” said Vikas Gujral, practice director at Everest Group. “Enterprises that adopt digital solutions to combat these challenges are achieving better supply chain efficiency at lower cost. We have identified analytics, cloud computing, control tower, Internet of Things (IoT) and master data management (MDM) solutions as the emerging drivers for success in the SCM BPO market.”

- Analytics: Analytics capabilities will help streamline supply chain operations through actionable insights to enhance visibility and control. However, despite the growing adoption, analytics penetration within supply chain remains low when compared to procurement.

- Cloud: Cloud is becoming a major disruptive force for seamless supply chain operations, because it enables agile operations, cost containment and increased collaboration. Cloud ties all underlying pieces and technologies together, forming the basis for the supply chain of the future.

- Control tower: Control tower—a central platform which tracks, monitors and directs activities across the supply chain—provides better visibility, cost benefits through accurate demand forecasting and inventory management, and reduced cycle time. Organizations have started realizing the benefits of control tower solutions, leading to cases of increased implementation.

- IoT: IoT, coupled with other technologies, forms another key building block of efficient supply chain operations. IoT is valuable in numerous applications for alleviating supply chain woes and preparing enterprises for the future.

- MDM: Demand for visibility, efficiency and smarter organization is increasingly creating the need for better data management. Consistent increase in MDM FTEs indicates greater focus on data management services

These results and other findings are explored in a recently published Everest Group report: “Supply Chain Management (SCM) BPO—Annual Report 2018: Moving Toward a Digital Supply Chain Ecosystem.” In the report, Everest Group analyzes the global SCM BPO market in 2017, focusing on the state of the market, market size and adoption trends, and the service provider landscape.

Key Adoption Trends:

Market size and growth: The SCM BPO market is now estimated at US $1.5 billion and is expected to grow at a similar pace in the future.

Geography distribution: North America is the key geography in terms of SCM market share, followed by Europe. Asia Pacific registered the highest revenue growth in the market.

Industry adoption: While manufacturing still leads the adoption in SCM outsourcing, newer industries such as travel & logistics have seen an uptick in adoption.

Buyer size: Although large buyers still form the majority, SMBs and midmarket buyers have awakened to the benefits of outsourcing.

Pricing: FTE-based pricing witnessed the maximum inclusion, very closely followed by hybrid pricing.

Sourcing dynamics: Although onshoring has seen an uptick from past years, offshore/nearshore delivery still forms the major chunk of the SCM BPO market.

About Everest Group

Everest Group is a consulting and research firm focused on strategic IT, business services, engineering services and sourcing. We are trusted advisors to senior executives of leading enterprises, providers, and investors. Our firm helps clients improve operational and financial performance through a hands-on process that supports them in making well-informed decisions that deliver high-impact results and achieve sustained value. Our insight and guidance empower clients to improve organizational efficiency, effectiveness, agility and responsiveness. What sets Everest Group apart is the integration of deep sourcing knowledge, problem-solving skills and original research. Details and in-depth content are available at http://www.everestgrp.com.

Worn Again Technologies is leading the charge to solve part of the world’s plastic crisis and the growing problem of textiles waste to landfill. After more than six years of intensive R&D, Worn Again Technologies is coming out of the lab and bringing its patented technology to market.

CEO, Cyndi Rhoades said, “There are enough textiles and plastic bottles ‘above ground’ and in circulation today to meet our annual demand for raw materials to make new clothing and textiles. With our dual polymer recycling technology, there will be no need to use virgin oil by-products to make new polyester and the industry will be able to radically decrease the amount of virgin cotton going into clothing by displacing it with new cellulose fibres recaptured from existing clothing.”

Worn Again Technologies’ patented process can separate, decontaminate and extract polyester polymers and cellulose (from cotton) from non-reusable textiles, as well as plastic bottles and packaging, to go back into new products as part of a repeatable process. The innovation cracks the code not only by being able to separate both polyester and cotton but also by being able to produce two end products that are both comparable in quality and have the aim of being competitive in price to virgin resources. The process saves energy and will accelerate us towards a waste-free, circular resource world.

Currently, less than 1% of non-wearable textiles are turned back into new textiles due to technical and economic limitations of current recycling methods. Worn Again Technologies can reprocess pure and blended cotton and polyester textiles (together representing 80% of all clothing and textiles) meaning its solution offers the potential to increase the recycling of raw materials in textiles exponentially from the current 1%, with no price premium to manufacturers, brands or the consumer.

Cambridge PhD and Worn Again Technologies Chief Scientific Officer, Dr. Adam Walker sums it up, “The solution to the world’s plastics problem is not to stop using plastic altogether. We have a solution to address the burgeoning need for recycling non-rewearable textiles and plastics and we’ve been clamouring to get on with it for many years. This investment, combined with the increasing geopolitical awareness of the need for this technology, is enabling us to push through the scale-up and validation work to reach the market on an accelerated timescale.”

The industry is starting to wake up to Dr. Walker and the Worn Again scientists. Last month, the company was awarded a grant to become the first chemical recycling technology to be Cradle to Cradle (C2C) certified.

“For the last few years, fighting against industry inertia and resistance to investing in our solution was incredibly difficult. Everyone in the industry was waiting for someone else to take the lead” said angel investor and Chairman Craig Cohon. “It’s been a challenge but we have now brought together an esteemed group of pioneers who share a likeminded vision for the future.”

The catalyst for the investment was fashion retailer H&M, now joined by new partners including Sulzer Chemtech, one of the world’s largest chemical engineering companies; Mexico based Himes Corporation, a garment manufacturer; Directex, a textiles producer and Miroslava Duma’s Future Tech Lab. The combined investment and support enables the optimisation phase of the technology in the lab as well as industrial trials, scaling and designing of the industrial process with Sulzer Chemtech. These crucial steps will finalise developments to the point at which the technology is complete and ready for commercialisation. Worn Again Technologies has also partnered with Qvartz, a management consultancy firm with Nordic roots and global reach, to support its direction setting, partnership development and commercialisation model.

Worn Again Technologies is currently enlisting local, national and global investors and strategic partners who want to be part of the rapid expansion plan as it prepares for the first industrial demonstration plant to be launched in 2021.

Worn Again Technologies is leading the charge to solve part of the world’s plastic crisis and the growing problem of textiles waste to landfill. After more than six years of intensive R&D, Worn Again Technologies is coming out of the lab and bringing its patented technology to market.

CEO, Cyndi Rhoades said, “There are enough textiles and plastic bottles ‘above ground’ and in circulation today to meet our annual demand for raw materials to make new clothing and textiles. With our dual polymer recycling technology, there will be no need to use virgin oil by-products to make new polyester and the industry will be able to radically decrease the amount of virgin cotton going into clothing by displacing it with new cellulose fibres recaptured from existing clothing.”

Worn Again Technologies’ patented process can separate, decontaminate and extract polyester polymers and cellulose (from cotton) from non-reusable textiles, as well as plastic bottles and packaging, to go back into new products as part of a repeatable process. The innovation cracks the code not only by being able to separate both polyester and cotton but also by being able to produce two end products that are both comparable in quality and have the aim of being competitive in price to virgin resources. The process saves energy and will accelerate us towards a waste-free, circular resource world.

Currently, less than 1% of non-wearable textiles are turned back into new textiles due to technical and economic limitations of current recycling methods. Worn Again Technologies can reprocess pure and blended cotton and polyester textiles (together representing 80% of all clothing and textiles) meaning its solution offers the potential to increase the recycling of raw materials in textiles exponentially from the current 1%, with no price premium to manufacturers, brands or the consumer.

Cambridge PhD and Worn Again Technologies Chief Scientific Officer, Dr. Adam Walker sums it up, “The solution to the world’s plastics problem is not to stop using plastic altogether. We have a solution to address the burgeoning need for recycling non-rewearable textiles and plastics and we’ve been clamouring to get on with it for many years. This investment, combined with the increasing geopolitical awareness of the need for this technology, is enabling us to push through the scale-up and validation work to reach the market on an accelerated timescale.”

The industry is starting to wake up to Dr. Walker and the Worn Again scientists. Last month, the company was awarded a grant to become the first chemical recycling technology to be Cradle to Cradle (C2C) certified.

“For the last few years, fighting against industry inertia and resistance to investing in our solution was incredibly difficult. Everyone in the industry was waiting for someone else to take the lead” said angel investor and Chairman Craig Cohon. “It’s been a challenge but we have now brought together an esteemed group of pioneers who share a likeminded vision for the future.”

The catalyst for the investment was fashion retailer H&M, now joined by new partners including Sulzer Chemtech, one of the world’s largest chemical engineering companies; Mexico based Himes Corporation, a garment manufacturer; Directex, a textiles producer and Miroslava Duma’s Future Tech Lab. The combined investment and support enables the optimisation phase of the technology in the lab as well as industrial trials, scaling and designing of the industrial process with Sulzer Chemtech. These crucial steps will finalise developments to the point at which the technology is complete and ready for commercialisation. Worn Again Technologies has also partnered with Qvartz, a management consultancy firm with Nordic roots and global reach, to support its direction setting, partnership development and commercialisation model.

Worn Again Technologies is currently enlisting local, national and global investors and strategic partners who want to be part of the rapid expansion plan as it prepares for the first industrial demonstration plant to be launched in 2021.