RETEX mission is to bring disruptive technologies to the construction materials industry and engage people to reduce, reuse and recycle
RETEX vision is to recycle over 10% of the textile waste in Europe within 5 years and be a global innovator in the reprocessing of waste materials into construction products
The amount of clothing and household textiles bought each year in the EU has increased by 40 % in just the past few decades to an estimated 9.5 million tons of textile products, or 19 kg per person.
However, over 2 million tons of textile waste is disposed of every year (source Eurostat). The JRC quotes estimates by the Textile Recycling Association that only between 15-20% of textiles disposed of were collected for reuse or recycling. A full 80% of textile waste goes to landfills, but almost all of it, up to 95% could be recycled if the proper mechanisms and programs were in place.
RETEX products are the first solution that utilizes reprocessed textile, plastic and rubber waste in the construction industry on a large scale.
RETEX panel is designed to replace plywood, OSB, LVL and other types of construction paneling made from wood, PVC, aluminum and other materials. The panels are made of shredded textile waste that has been pressed and bonded together in a proprietary manufacturing process.
RETEX panel is stronger, longer-lasting and fully mold, water and fire resistant.
RETEX panel provides a number of advantages over wood and other types of panel products.
- Panels can be used in any environment (exterior and interior)
- Homogeneous material, no wood grain pattern, so equally strong in all directions
- 100% water and mold resistant
- 100% fire-resistant
- 100% recyclable
- 100% eco-friendly, no pollutants or toxic chemicals, low CO2
All product characteristics have been developed by RETEX.
The impact on the market and attainment of European CEP goals with RETEX will be significant.
RETEX target is to sell over 1 million cubic meters of panels within 5 years. This will require the reprocessing of over 300,000 tons of textile waste every year, equal to more than 10% of the total waste generated Europe-wide. RETEX will be the first product to have a major impact on the textile waste problem in Europe. This is waste that is recycled for a useful purpose and not dumped into landfills or burned.
RETEX represents a technology that has greater impact on disposed textile waste than any other solution currently available.
RETEX technology increases the EU’s level of competitiveness and innovation.
RETEX achieves the EU objectives of the circular economy
Production & Consumption
- Value of the product is extended in economy
- Consumption is optimized by better design and product performance
- Waste in production is minimized
Production & Consumption
- Boosting the market for use of secondary raw materials (textile waste)
- Maximum recycling of textiles, a major source of waste
- Promote better collection of textile waste
- Increase household recycling rates of textiles
- Reduced construction & demolition waste as old RETEX panels can also be recycled
Beyond Five Years, Beyond Europe
The level of textile waste in Europe is currently over 2 million tons annually. Yet the largest source of waste globally is not Europe but China at 26 million tons per year and the US at 15 million tons.
There is no reason why the RETEX technology can not be implemented outside of Europe on a global scale. In fact, the RETEX business model can be applied in almost any country where such waste exists and there is a demand for construction materials.
For these reasons RETEX has the longer term vision of expanding production outside of Europe toaddress the issue of textile waste on a global basis.
We strongly believe our product has the potential to significantly impact the level of textile waste going into landfills or being incinerated.
Our mission is to bring this technology to the world to improve the environment for everyone.
Meet the Team
Toomas is a serial entrepreneur with more than 15 years of experience in creating new and innovative companies that help improve people’s lives and solve important environmental issues in our world today.
Prior successes include establishing a credit company that helped over 70,000 people and generated € 26M of revenues, a waste recycling company that develops construction materials from textile, plastic and rubber waste, and manufacturer of innovative modular homes that are energy-efficient and eco-friendly.
Toomas’ unique competence lies in visioning market opportunities, conceptualizing how technology can be used to solve problems, and organizing the creative energies of his teams to build the businesses.
Michael is a professional with more than 25 years of experience in the financial services industry in the US and Europe with firms such as Morgan Stanley, Citibank and Merrill Lynch. Prior roles include as CFO, head of sales, COO and business development officer. His background includes a wide range of experience working with both large and small firms to achieve success.
He has participated in several startups by establishing financial, operations, client servicing, product development, and investor relations functions. Michael has a Wharton MBA, Advanced Certificate in Finance from NYU, two undergraduate degrees with Honors and Distinction and is a Chartered Financial Analyst (CFA).