WeedLife News Network

Hot off the press cannabis, marijuana, cbd and hemp news from around the world on the WeedLife News Network.
3 minutes reading time (516 words)

Revoltech closes seed round for LOVR Alt leather made of upcycled hemp waste materials

German men

German startup Revoltech announces it has closed a seven-figure seed round for leather substitute LOVR, made of hemp fibres from the leftover residues of CBD products. The funds will bring the 100% biodegradable, plastic-free and climate-neutral material to market.

LOVR stands for “leather-like-without plastic-vegan-residue-based” and was developed with the goal of transforming the leather industry by introducing a truly sustainable material made from agricultural waste. Its production is based on the principles of the circular economy and does not involve the use of chemicals.

Revoltech, founded in 2021 by Lucas Fuhrmann, Julian Mushövel and Montgomery Wagner, has signed a joint investment agreement with b.value AG, BMH Beteiligungs-Managementgesellschaft Hessen mbH and HEAG. The seven-figure seed investment will be used to develop operations and expand production of the sustainable textile.

lovr production

Revoltech says, “We make use of waste materials and turn them into something new. The journey of LOVR starts on a field, more specifically with a hemp plant. It is grown for CBD products. We use the crop waste as the base for LOVR. Our trusted agricultural partners supply us with their by-products. This is how LOVR promotes a transparent, regional, and sustainable circular economy. Free from global supply chains, and full of appreciation for people, materials and nature.”

Says Julian Mushövel, Co-Founder & CTO: “Our breakthrough technology ensures that we can produce LOVR with a minimal carbon footprint. Our material will play an important role in fighting climate change and preserving our ecosystems.”

Financing market entry

“The seed funding is a big step for LOVR. I am very happy that we have found partners who share and support our vision of a sustainable circular economy,” says Lucas Fuhrmann, Co-Founder and CEO.

Montgomery Wagner, Co-Founder & COO, states: “With this seed round, we are financing our market entry. The next two years will be about making the step from lab to industry. We are pleased that b.value, BMH and HEAG are supporting us in this endeavour.”

 

revoltech lovr

Peter Kallien, CEO of b.value AG, added: “We are pleased to support Revoltech GmbH in its mission to revolutionize the leather market with its sustainable leather alternative LOVR, which is based on a strong and scalable technology foundation and a highly competent and enthusiastic founding team.”

“LOVR has developed the first truly sustainable alternative to leather and is thus making a major contribution to a resource-saving leather and textile industry,” Helge Haase, responsible investment manager at BMH, comments.

“We see significant growth potential, as the trend towards sustainable business has reached all industries and is here to stay.”

e-mail icon Facebook icon Twitter icon LinkedIn icon Reddit icon
Rate this article: 
Select ratingGive Revoltech closes seed round for LOVR Alt leather made of upcycled hemp waste materials 1/5Give Revoltech closes seed round for LOVR Alt leather made of upcycled hemp waste materials 2/5Give Revoltech closes seed round for LOVR Alt leather made of upcycled hemp waste materials 3/5Give Revoltech closes seed round for LOVR Alt leather made of upcycled hemp waste materials 4/5Give Revoltech closes seed round for LOVR Alt leather made of upcycled hemp waste materials 5/5
Authored By: 
Article category: 
Regional Marijuana News: 

Copyright

© 420 Intel

×
Stay Informed

When you subscribe to the blog, we will send you an e-mail when there are new updates on the site so you wouldn't miss them.

Patients who use marijuana may need more sedation ...
Hemp for weight loss? “Diet weed” THCV takes fitne...

Related Posts


WeedLife.com