A Dayton startup leveraging an innovative recycling process to transform industry waste into high quality reusable resources received a multi-million-dollar investment from a private Midwest-based investor. The funding follows hundreds of thousands raised in pre-seed funding last year.
Hybridworks, a cutting-edge textile recycling technology company, announced a $3.2 million seed-series equity investment. The funding marks a significant milestone for the company, which seeks to revolutionize the textile industry with the most scalable and energy-efficient renewable textile technology in the industry.
"This investment marks a pivotal moment for Hybridworks. It not only validates the breakthrough status of our technology but also strengthens our resolve to drive positive change in the textile industry,” said Bob Fesmire Sr., Hybridworks CEO.
The new investment in Hybridworks follows the $300,000 pre-seed angel and founder team funding raised last year.
The new equity investment empowers Hybridworks to expand research and development capabilities and production infrastructure. It also will enable the startup to engage additional partners across a variety of industries including; textiles, uniforms, fashion, plastics, waste management and recycling to increase the adoption of sustainable textile recycling practices.
How does it work? What’s next?
Hybridworks developed an innovative two-phase patent-pending process and custom machinery to recycle blended textile fabrics designated as end of life. Their technology provides an eco-friendly alternative to discarding textiles in landfills where they take more than100 years to decompose or incinerating textiles where they pollute the air.
The Hybridworks systems separate the cotton, as a fiber, from the polyester. The resulting high-quality, high-integrity cotton can be re-spun into new fiber. The Hybridworks cotton product represents a significant advancement in sustainable textiles because historically cotton is destroyed or turned into cellulose.
The recovered polyester is then separated into terephthalic acid and ethylene glycol, the two primary chemicals needed to make polyester and most other plastics. These two recovered products can be spun into new fiber or mixed with virgin fiber to produce fiber with recycled content.
The Hybridworks process offers additional environment benefits as its design saves labor, lowers energy costs and conserves water.
Hybridworks currently is developing a pilot plant and signing partnerships with fiber companies, fabric manufacturers, waste management companies, industrial laundries and fashion houses who are all in dire need of textile recycling solutions.
Bud Honshell, Hybridworks founder and COO explained, “Textile recycling solutions have never been more in-demand than at this very moment. Hybridworks is well-positioned to establish our next-level technologies as a cornerstone of textile sustainability efforts worldwide.”
About Hybridworks and its leaders:
Hybridworks is an innovative textile recycling company committed to advancing sustainable practices in the textile industry. Leveraging their proprietary cutting-edge technology and eco-friendly systems, Hybridworks redefines textile waste management, reducing the environmental impact and creating a more circular, responsible ecosystem.
Honshell and Fesmire are textile industry veterans whose experience exceeds 30 years.
In addition to serving as the CEO of Hybridworks, Fesmire, is chairman of Ellis Corp. and Ludell Water Systems, now operating under fourth-generation leadership with Bob Fesmire Jr. at the helm of both legacy companies. Fesmire Sr. took over Ellis in 1970 and added Ludell Water Systems to become the first industrial laundry manufacturer to venture into water waste management services. 2023 marks 125 years in operation for the family.
Honshell founded Hybridworks having seen the need for textile recycling solutions across a prolific 50-year career in the textile industry including marketing and business development roles at VanDyne Crotty Inc., Mechanics Laundry, Signet Expressions/Wildman Business group, VF Imagewear and Millers Textile Services. Most recently he served as a consultant to the industrial laundry industry.
Hybridworks operates out of The Hub at 31 S. Main St. in the downtown Dayton Arcade.
