RETEX Panels, a company specializing in recycled textile waste innovation, is launching its operations and building a factory in Hyvinkää, Finland. The company plans to disrupt the construction and building materials market with new technologies that convert textile waste into value-added products like panels. RETEX also intends to build a larger circular economy ecosystem around its new factory and to expand its operations to other European countries and beyond.
RETEX Panels is currently working on the plans and designs of its first factory in Hyvinkää. The company plans to base its Finnish operations there, including product development, production, sales, marketing, and customer service.
“Helsinki Business Hub introduced us to several cities in Finland, and Hyvinkää was the best fit for us. It’s a forward-thinking, hands-on, supportive community, and logistically great for collecting textile waste from all around Finland. The factory is planned to be operational in about 14 months,” says Toomas Allikas.