Spanish multinational clothing company Inditex, owner of Zara and Massimo Dutti, has made a minority stake investment in GALY, a biotech company producing cultivated cotton from plant cells. GALY, founded in 2019, has raised over $33.5 million from notable investors and recently signed a $50 million purchase agreement with a Japanese company to produce medical products using their lab-grown cotton fibers.
The move aligns with Inditex's goal of using 25% new-generation materials by 2030. This investment comes at a critical time as the textile industry faces ethical and environmental challenges. By supporting cultivated cotton, a sustainable alternative to conventional cotton production, Inditex is reshaping the industry and driving it towards a more sustainable future.
*This summary was generated using AI.
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