OceanSafe secures loan guarantee from technology fund

OceanSafe AG has been granted a loan by Zürcher Kantonalbank (ZKB), the cantonal bank of Zurich. This is guaranteed by the technology fund of the Federal Council, the Swiss federal government, further details of which can be found in a press release issued by the company headquartered in Bern. In a previous financing round, Rütters GmbH from the German city of Mönchengladbach and the Zurich-based investment firm exelixis capital invested in OceanSafe. The company has therefore banked investments totaling 5.1 million Swiss francs in fresh capital.

OceanSafe intends to use the funding to finance the development of the next generation of circular materials, as well as for market expansion and organizational growth plans.

Founded in 2019, the company launched naNea in 2021. This non-toxic, biodegradable material is a substitute for conventional polyester. At present, preparations for the series production of naNea are in progress.

“Our objective is to assist textile brands in achieving circularity and to reduce environmental impact”, comments Manuel Schweizer, founder and CEO of OceanSafe, in the press release. The textiles industry is increasingly conscious of the fact that it must produce materials that are genuinely circular with a low environmental impact. “The funding will play a crucial role in expanding our textile materials business and fostering organizational growth”, Schweizer adds. ce/stk