Detoxifying the colour industry
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A world of colour, naturally.
Building financial models for the data room to attract investors to join in solving the world’s synthetic dye problem
The Opportunity
The textiles industry has a problem. It uses 800,000 tons of synthetic dyes every year. Ninety percent of our clothes use these synthetic dyes, which are primarily derived from fossil fuels. Manufacturing of these dyes has a large negative impact on human health and the environment. This industry is actively seeking more sustainable, earth- and people-friendly solutions to overcome these issues and still bring brilliant colour to its products.
The Challenge
Lite-1 has developed the next generation of 100% sustainable colourants grown from microorganisms. With active trials with sustainable materials companies, and imminent testing with fashion brands, Lite-1 was at a prime moment in their commercialization journey. But that would require scaling, which would require capital.
Hiring a fractional CFO has been extremely valuable in helping us put the right financial modeling and documentation in place. Most importantly, it’s equipped us with the data that investors are looking for.
NPC’s Solution
Lite-1 knew that investors would need to see a solid business plan and robust financial modeling – expertise they didn’t have in-house. NPC provided funds through their Fast Track To Financing Program to help Lite-1 hire a fractional CFO to bring their strategy and documentation up to the level expected by the capital providers. With this refinement under their belts, Lite-1 has generated interest with additional funders and industry partners.
NPC is committed to the creation of natural products that are better for people, animals and the planet. We propel early-stage Canadian innovators with the advice, connections and capital they need to develop and de-risk their solutions quickly and efficiently.
Lite-1
Description:
Sector(s):
Packaging, Apparel, Biomaterials, Bioequivalents, Cleantech, GreentechFunding Type:
Fast Track to FinancingProvince:
British ColumbiaFunding Amount:
$2,400
Year of Funding:
2023Name:
Sarah Graham and Roya Aghighi