OCEANBALANCE ESTABLISHES SUSTAINABLE TECH INNOVATION HUB
OceanBalance the high-performance recycled fabric developer plans to complete in March 2021 the establishment of its European Sustainable Technology Innovation Center (ESTIC) in Riga, Latvia.
ESTIC is a research and development facility “tasked with developing new recycled fabric technologies for a more sustainable world”, the company said in a trade statement. The facility will act as an international research hub for the OceanBalance “environmental value solutions”.
It is also expected to undertake the challenge of developing new performance sportswear fabrics that “leverage the lifestyle capabilities of the core materials and develop new green materials to support the global circular economy.” This includes efforts to reduce CO2 emissions and stimulate the recycling economy, the Senior Fabric Technologist, Monta Lancmane said.
The move is closely tied to the OceanBalance work towards becoming a company that supports the “society of the future”, as well as the United Nations Sustainable Development Goals (SDGs) and the European Union Circular Economy Action Plan.