MAS Holdings invests in HeiQ AeoniQ

MAS Holdings is investing in the HeiQ subsidiary HeiQ AeoniQ GmbH, further details of which can be found in a press release. The subsidiary is responsible for manufacturing the climate-friendly HeiQ AeoniQ cellulose-based yarn, which has been conceived with replacing synthetic yarns such as polyester and nylon in mind. Under the terms of the partnership, HeiQ and MAS have entered into a five-year offtake agreement for 3,000 tons of HeiQ AeoniQ yarn in 2025 and 5,000 tons per year between 2026 and 2029. The total value of the transaction is estimated by HeiQ at 100 million US dollars.

MAS Holdings, which is headquartered in Colombo, the capital of Sri Lanka, is one of the world’s largest textiles firms. It boasts an annual turnover of 2 billion US dollars and, according to its own information, employs around 110,000 staff across 16 countries. The MAS Plan for Change aims to generate half of the company’s turnover by way of sustainable products by 2025.

HeiQ AeoniQ GmbH is headquartered in Herzogenburg, Austria. It has been producing the cellulose-based filament yarn since the third quarter of 2022 at a capacity of up to 100 tons, which is set to be upped to 300 tons by the end of 2023. From the start of 2026, the expansion of the production facilities for HeiQ AeoniQ is based on the construction of a new gigafactory with a capacity of 30,000 tons per year, the press release states.

HeiQ has carried out pioneering work in the area of textiles innovation, revolutionized sustainable functionality and helped to improve the lives of billions of people around the world, as Carlo Centonze, CEO of the HeiQ Group, explains in the press release. The investment from MAS and the offtake agreements represent “resounding proof that leading textiles value chain players recognize HeiQ AeoniQ as the ultimate game-changer”, according to Centonze. ce/gba