STOCKHOLM, SWEDEN / ACCESSWIRE / February 12, 2024 / Re:NewCell AB (publ) (FRA:6QP)(STO:RENEW) ("Renewcell") today announced that its Board of Directors has decided to reschedule the publication of its year-end report 2023 to 23 February 2024 in order to continue the strategic review that was announced on 20 November 2023.
On 20 November 2023, Renewcell announced that its Board of Directors had decided to initiate a strategic review to explore and evaluate funding options due to lower than anticipated sales volumes. The strategic review remains ongoing with highest priority in order to secure the necessary funding for Renewcell's operations.
Contacts
Magnus Håkansson
acting CEO
[email protected]
+46 76 887 20 02
Peter Schulz
acting CFO
[email protected]
About Renewcell
Re:NewCell AB (publ) ("Renewcell") developed a patented process that enables the recycling of cellulosic textile waste, such as worn-out cotton clothes and production scraps, transforming it into a pristine new material called CIRCULOSE®. Founded by innovators from Stockholm's KTH Royal Institute of Technology in 2012, the award-winning, Sweden-based sustaintech company's vision is to make fashion circular.
Through its patented process, Renewcell is able to recycle cellulosic textile waste, such as worn-out cotton clothes and production scraps, transforming it into a pristine new material called CIRCULOSE®. Fast Company named Renewcell one of the World's Most Innovative Companies in 2021, as well as World Changing Idea in 2023. CIRCULOSE® was also included on TIME Magazine's list of the 100 Best Inventions 2020.
Renewcell is a publicly listed company with shares traded on Nasdaq First North Premier Growth Market with the ticker name RENEW and ISIN code SE0014960431. FNCA Sweden AB is Certified Adviser.
Attachments
Renewcell reschedules publication of its year-end report 2023 to 23 February 2024
SOURCE: Re:NewCell AB (publ)