Patagonia Bets $1 Million on Biochemistry
Patagonia is investing more than $1 million in a biochemical company that makes textile treatments as part of the outdoor apparel companyâ€™s $20 Million & Change venture fund, created to invest in environmentally responsible startups focused on clothing, food, water, energy and waste.
While Patagonia did not disclose the amount of its investment in Beyond Surface Technologies, sources close to the company confirm the amount is â€śnorth of $1 million.â€ť
Patagonia and other companies need chemicals for high-performance materials, such as waterproof pants and wind-resistant jackets. But these chemicals can be toxic and persist in the environment.
Patagonia CEO Rose Marcario says the companyâ€™s investment in Beyond Surface Technologies can potentially help the industry â€śget to the next level of chemical safety without compromising performance.â€ť
Beyond Surface Technologies, a Swiss company founded in 2008 by former chemical company scientists and marketing executives, makes textile treatments based on natural raw material.
Matthias Foessel, CEO of Beyond Surface Technologies, says the investment will help his company accelerate testing and reduce time to market for its apparel treatments.
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