MAS Holdings invests in sustainable cellulosic yarn

MAS Holdings, a global apparel and textile manufacturing and tech conglomerate headquartered in Sri Lanka with a global footprint across 16 countries, has secured a stake in HeiQ AeoniQ to support the development of next-generation cellulosic filament fibres to replace polyester and nylon.

Swiss-based HeiQ produces a climate-positive cellulosic yarn that utilises a proprietary manufacturing method it states can be made from a wide range of non-valorised feedstock and can reproduce comparable performance features of polyester or nylon while being sustainable and endlessly circular.

Through the investment, MAS Holdings has entered into a five-year offtake agreement with HeiQ for 3,000 tons of HeiQ AeoniQ yarn in 2025 and 5,000 tons per year from 2026 to 2029.

Suren Fernando, group chief executive officer of MAS Holdings, said in a statement: “MAS was built on the foundational belief of doing the right thing. As a global organisation nurturing over 100,000 individuals, we are convinced of our responsibility to drive positive change within the apparel industry through sustainable product solutions.

“We believe that this investment is an important step in our efforts to reshape our industry by driving innovation, collaboration, and scale. With HeiQ AeoniQ as a key catalyst, we are poised to pave the way for a more sustainable future.”

The HeiQ AeoniQ pilot plant, located in Austria, has been producing this continuous cellulosic filament yarn since Q3 2022 and has a planned production scale-up by early 2026 with the construction of an entirely new gigafactory capable of a 30,000-ton output per year in a 250 million US dollar estimated investment.

Carlo Centonze, chief executive of HeiQ Group, added: “Since the beginning, HeiQ has pioneered textile innovation, revolutionising sustainable functionality and enhancing the lives of billions. Now, with the introduction of HeiQ AeoniQ, we solidify our unwavering commitment to disrupting the textile industry—a sector that has long held the dubious distinction of being the world's second-largest polluter.

“MAS' investment serves as resounding proof that leading textiles value chain players recognise HeiQ AeoniQ as the ultimate game-changer, placing their trust in its transformative power.”