Modern Synthesis has developed a material that can substitute leather and plastic-coated fabrics while reducing plastic pollution, and it comes from nature.
Climate-leading Investors Backing Up A Sustainable Innovation
The biotechnology company Modern Synthesis has engineered a microbially-derived biomaterial that can represent a turning point in the fashion industry at the peak of the climate crisis awareness. The company has successfully secured a £4.1 million ($5.5 million) funding round to complete its journey towards commercialisation and it has been supported by investments from Extantia Capital, Artesian and Collaborative Fund, which will enable Modern Synthesis to expand production at its pilot facility and supply fashion brands on its growing waitlist.
Alexandra Clunies-Ross, Partner at Artesian Investments, commented: “We are delighted to partner with Modern Synthesis in their mission to mainstream biobased materials. Our investment decision was driven by the company’s potential to revolutionise traditional manufacturing processes and drive real impact at scale. At Artesian, we believe that early-stage investment in innovative technology companies like Modern Synthesis is crucial in addressing the climate crisis.”
How Can This Patent-Pending Biomaterial Change The Industry
Industry research shows that fashion brands trying to comply with decarbonisation and climate regulations will face a 133 million tonne shortfall of low-impact raw materials by 2030.
Despite the demand from the industry, commercially available sustainable textiles represent less than 5% of the £750.7 billion ($1 trillion) global apparel textile market [1]. With more than 35 new sustainability-linked regulations slated to reshape the industry in the next few years, fashion and apparel brands that fail to adapt their material portfolios could face significant financial risks, with up to 8% of EBIT potentially at stake, according to BCG analysis [2].
Modern Synthesis’ technology will enable brands – such as fashion, footwear and, later, automotive companies – to reduce this shortfall by proactively adjusting their preferred raw materials while delivering new looks, feels, and material functions to their products.
About Modern Synthesis' Bio-Alternative Material
To develop its biobased materials, Modern Synthesis transforms nanocellulose – a natural fermentation-derived fibre – into durable and high-quality alternatives to animal leather, ‘vegan’ leather and plastic-based coated textiles. The company’s proprietary process leverages advanced material science to build upon the innate strength and versatility of nanocellulose, a naturally derived polymer, which is 8 times stronger than steel at a nanofibre level. The final materials are free from petrochemicals and toxic ingredients and offer reduced environmental impact compared to incumbent textiles.
CEO and Co-Founder of Modern Synthesis, Jen Keane, said: “Having demonstrated unprecedented material performance without plastic, we’re primed to offer the fashion market a material solution that can both captivate consumers and unlock a path to circularity. This investment gives us the capacity to work with more brands as we continue to uncover new use cases for the technology.”
Modern Synthesis has already tested the potential of its biobased material for fashion purposes: in September 2023, the company unveiled a prototype handbag in collaboration with Danish fashion brand GANNI, and the companies are jointly working towards a commercial launch of GANNI’s Bou Bag in Modern Synthesis’ biomaterial.
Yair Reem, Partner at Extantia Capital, said: “The first thing that struck us was how this material rivals traditional leathers in look and feel, but can also offer something entirely new that excites designers. Jen’s deep expertise in fashion and design, combined with Ben’s tech-savvy brilliance, has created a game-changing solution that redefines what’s possible with sustainable, high-performance materials. Modern Synthesis represents the future of industry – delivering better, more cost-effective and resilient materials that also happen to be green.”
The support of leading climate-focused investors will enable Modern Synthesis to address the urgent need for lower-impact materials in the fashion industry while paving the way for future expansion into the footwear and automotive markets.
Sources:
[1] https://fibershed.org/wp-content/uploads/2020/01/Sustainable-Textiles-report-Nov-2019.pdf
[2] https://www.bcg.com/publications/2023/driving-profitability-with-raw-materials-in-fashion
