Limburg-based Qorium, a cell-cultured leather company, announced that it has raised fresh funding from Brightlands Venture Partners and Sofinnova Partners.
Additionally, Michael Newton, a former senior executive at Nike, is appointed as the Chief Executive Officer (CEO) to lead the company in its next phase of growth.
Newton says, “As soon as I met Mark, Rutger, Stef and the team at Qorium, I knew this was going to be the perfect fit. Qorium is founded on the conviction that when tradition and talent meet science, true category transformation can happen.”
“My years at Nike were all about innovating product to unleash human potential; I’m thrilled to be taking this next logical step, where incredible science can deliver a truly sustainable future through high quality, excellent products that consumers covet,” adds Newton.
Sustainable leather technology
Qorium was founded by Rutger Ploem, Stef Kranendijk, Mark Post, and Maastricht University and recently realised a proof of concept of cultivated real leather, a breakthrough. The company develops, manufactures, markets, sells and distributes high-quality cultivated leather.
Qorium will focus on premium leather using brands in the luxury leather goods industry, the automotive industry, and the premium footwear industry. This is because they expressed the need to be able to use real leather without the huge negative impact on the environment, that conventional leather has.
Qorium claims that, compared to traditional leather, its cultivated leather is made by using 99 per cent less water, 66 per cent less energy, and without polluting the first two phases of the tanning process – most importantly, without any methane gas emitted by the cows responsible for the global 2 billion square meters/year conventional leather market.
Olga Goor, Investment Manager at Brightlands Venture Partners says, “Qorium has made impressive progress over the last two years, and we are convinced that the addition of Michael alongside with both BVP’s and Sofinnova’s deep expertise, knowledge and relationships in this space will only further accelerate Qorium’s development.”
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